Before you enter the world of trading, some people come from different backgrounds, which can be seen from and prepared for well before entering the world of trading, where you are a beginner.
Many influencers or successful traders showcase their results with the goal of financial freedom, allowing you to work anywhere and anytime if you have the skills in trading. Before looking too far ahead, you must first understand yourself and your situation as a beginner to start learning about trading.
Let’s say you’re starting something new for your economic growth. There are several things that need to be prepared, which are often overlooked by most people:
Of course, learning trading technically and academically is very important and must be done because it is essential as your capital to analyze the market, both technically and fundamentally. (I think this is a given.)
If you are an employee or a businessperson who is considering transitioning into trading, it is essential to ensure you have sufficient funds to cover your expenses for the next few months, whether you are married or single. The amount required depends on your living costs; for example, calculations for 6 to 12 months ahead. This is necessary so that if you encounter the worst-case scenario in your trading activities, you will have a more peaceful life because you already have a contingency fund to support your family for several months. This is often overlooked by beginners.
The purpose of this is to ensure your life remains secure, as trading is not easy. It is not something you can master in a month or two to quickly generate income like those who have already succeeded in this field. In this industry, there are numerous adjustments to make, such as processing information, managing emotions, and adapting to the fluctuating emotions within oneself—all of which are extremely challenging to discipline. Therefore, it is essential to create multiple plans to ensure you can sustain your learning and achieve success in this field over the long term.
Active income is essential, whether it comes from your job or from someone supporting you so you can continue learning continuously, because trading is necessary for learning materials, and sometimes you may get carried away by emotions and lose the trading funds you’ve prepared, so you’ll need more and more money as a reserve.
The process will undoubtedly take some time, depending on how you learn from each mistake and what you need to have in order to generate income through trading. You may need to spend one or two years learning the ropes until you feel confident and your trades result in fewer losses, meaning your profits from trading outweigh the losses incurred.
What needs to be considered is expectations in trading. If you have relatively little capital, don't expect to get rich quickly because that will be destructive, such as expecting 50% - 100% more from each of your trades so that you use high leverage to accelerate it. On the one hand, you have a large margin, but your liquidation funds cannot accommodate it when a reversal occurs. This is what often causes people to lose money, commonly referred to as a “margin call.” They fail to account for the possibility of a decline, which must also be considered. Therefore, I believe it is better to use small leverage, such as 10x or below, for someone who is just starting to learn about the risks of trading positions, develop the right mindset, and test strategies.
I skipped those parts when I first started learning, so my life wasn't going well. I relied solely on my determination as my initial capital without preparing for the worst-case scenario or how to anticipate it. The worst part was that I stopped and went back to working like before, forgetting about trading. Eventually, things improved, and I started learning again slowly. This is just a little story I can share. Thank you for reading.
July, getting a little sweetener
Many influencers or successful traders showcase their results with the goal of financial freedom, allowing you to work anywhere and anytime if you have the skills in trading. Before looking too far ahead, you must first understand yourself and your situation as a beginner to start learning about trading.
Let’s say you’re starting something new for your economic growth. There are several things that need to be prepared, which are often overlooked by most people:
Of course, learning trading technically and academically is very important and must be done because it is essential as your capital to analyze the market, both technically and fundamentally. (I think this is a given.)
If you are an employee or a businessperson who is considering transitioning into trading, it is essential to ensure you have sufficient funds to cover your expenses for the next few months, whether you are married or single. The amount required depends on your living costs; for example, calculations for 6 to 12 months ahead. This is necessary so that if you encounter the worst-case scenario in your trading activities, you will have a more peaceful life because you already have a contingency fund to support your family for several months. This is often overlooked by beginners.
The purpose of this is to ensure your life remains secure, as trading is not easy. It is not something you can master in a month or two to quickly generate income like those who have already succeeded in this field. In this industry, there are numerous adjustments to make, such as processing information, managing emotions, and adapting to the fluctuating emotions within oneself—all of which are extremely challenging to discipline. Therefore, it is essential to create multiple plans to ensure you can sustain your learning and achieve success in this field over the long term.
Active income is essential, whether it comes from your job or from someone supporting you so you can continue learning continuously, because trading is necessary for learning materials, and sometimes you may get carried away by emotions and lose the trading funds you’ve prepared, so you’ll need more and more money as a reserve.
The process will undoubtedly take some time, depending on how you learn from each mistake and what you need to have in order to generate income through trading. You may need to spend one or two years learning the ropes until you feel confident and your trades result in fewer losses, meaning your profits from trading outweigh the losses incurred.
What needs to be considered is expectations in trading. If you have relatively little capital, don't expect to get rich quickly because that will be destructive, such as expecting 50% - 100% more from each of your trades so that you use high leverage to accelerate it. On the one hand, you have a large margin, but your liquidation funds cannot accommodate it when a reversal occurs. This is what often causes people to lose money, commonly referred to as a “margin call.” They fail to account for the possibility of a decline, which must also be considered. Therefore, I believe it is better to use small leverage, such as 10x or below, for someone who is just starting to learn about the risks of trading positions, develop the right mindset, and test strategies.
I skipped those parts when I first started learning, so my life wasn't going well. I relied solely on my determination as my initial capital without preparing for the worst-case scenario or how to anticipate it. The worst part was that I stopped and went back to working like before, forgetting about trading. Eventually, things improved, and I started learning again slowly. This is just a little story I can share. Thank you for reading.
July, getting a little sweetener
 |  |  |  |