Trading for beginners can seem complicated even scary I mean it's high risk to make you lose thousands of dollars but if you know what you're doing you can also make thousands of dollars consistently to help you do this I'm going to show you a few things howTrading works and the one mistake you must avoid the technical side of trading how to mitigate risk and get out of a bad trade and how to trade an asset using all the above to make your first one thousand dollars this means you'll know exactly how to make a trade andThen you could even make your first one right alongside me ready trading is like investing but supercharged with investing you buy and hold an asset like a stock or a currency for a long time and you hope to make a large gain in trading you buy and sell assets overShorter intervals for smaller gains each and every time a Trader usually executes multiple trades per day hence the term day trading the goal of day trading is to take advantage of Market fluctuations and human psychology to make a quick profit you identify a small opportunityGet in grab it and leave before the door closes basically if you think the price is going to go up you buy an asset with two thousand dollars and then sell when your stock goes up to three thousand dollars and boom you just made a thousand dollars in profit in a fewMinutes in day trading you'll be spending a whole lot of time looking at this and if you're confused you should be because there's stuff going all over the place up and down but don't worry I'm gonna explain this to you later right now though I want you to take noteOf how Wild and frequent the fluctuations in price are this tells you one major thing day trading is high risk just as you can make money quickly you can also lose money your goal in trading is to make small profits where you can while minimizing losses that is the mostImportant part anyone can make a wild bet and just hope for the best I'm going to teach you how to consistently make calculated smart bets there are a ton of ways that you can do this many of which I'll dive into later one of the most common is looking for signs that suggestAn asset is going to move in price for example let's say Saudi Arabia just declared that it's run out of oil that's bad but this will likely affect the price of oil a skilled Trader would see that into a position quickly make a profit and then get out the less riskyThe opportunity the better it is for you as a Trader the biggest trading mistake you can possibly make which will lose you potentially hundreds thousands or even hundreds of thousands of dollars is this you let your emotions influence your trades it doesn't matter how muchYou feel a trade is right or how hyped your friend or the market is about a specific trait that doesn't matter it doesn't matter if your trade is driven by emotions on any level abort do not pass go get out of that trade you must have a clear rational trading plan thatMinimizes risk and makes logical sense that's it emotions have nothing to do with this if you're in an overly emotional person and you feel like maybe trading is not for me I don't know maybe it's not for you but if you're like I think I got a good grasp on this thenContinue watching the video now yeah there are other mistakes that you don't want to make like making too many trades trying to chase profit not managing your risk or not diversifying your trades across different assets and markets but for now the single biggest mistake to avoid one that will lose you money isGetting emotional save that for the movies brother Anakin there's no best time to trade people tell you all kinds of theories but really the only real best time to trade is when the market is most volatile and has the highest amount of liquidity this will allow you to enter and exit tradesWith the most ease which you want as a Trader and sure you know some assets will have the most liquidity when the U.S and European markets are open and in session but if that doesn't fit with your individual schedule then maybe that's not the best time for you individually that's important what areWhat are you up to you have a life you have a job you're a beginner at this this trading thing is probably going to be a side hustle at first it has to be sustainable and work for you so in short there's no secret and I'd recommend youExperiment with which time works the best for you and your trading schedule there are a bunch of key terms that you want to know so the day trading lingo doesn't sound like this and to save this video from being like a series of definitions I'm just going toPut them all on screen right now so you can pause this and return here whenever you want Now let's move on to the good stuff I know trading can look super confusing but the process of making a day trade is actually really simple and I want you to know this up front so even though I'm going to do a full walkthrough at theEnd take a look at me doing a quick trade go to your favorite trading app my favorite for trading stocks is Weeble they're actually offering 12 free stocks right now for signing up I'll leave them Linked In the description so check that out and don't worry we're also going toCover crypto trading as well later on this video but for stocks sign up fund your account click the markets tab on the bottom type in the ticker symbol that you're trying to trade I'm going to go with Tesla click trade now we're going to do a simple Market order for100 and done it's that easy now when you want to sell simply click trade again then the sell tab make sure everything looks good and boom you're done now I did that just to familiarize you with how simple the mechanics are of executing a trade I'll show you how toDo this in more detail in a bit foreign there are a whole lot of trading platforms so do your homework here but for me I like Weeble for stocks and I'm currently using buy bit for cryptos buy bit will also be linked down below with an awesome cash bonus of potentiallyThousands of dollars for signing up I'm actually currently using buy bit for a trading Challenge on our membership site for Nova and it's been great there I'm attempting to turn 100 into ten thousand dollars only through trading I started this challenge just a little while ago and I'm making small safe profits likeThis four percent gain and we have other coaches making profits all the time like this 27 gain and this 12 profit that turned into 25 in a single day if you were on phenova you would have had access to all those trades in real time plus we have live coaching calls toCover all this stuff in Greater detail and we just launched a year-long full-time Traders course that takes newbies and brings them trains them step by step on how to earn a living from Trading all for an extremely affordable price I am so extremely proud of this community so if you want even moreHands-On help definitely join funova below Trading is quick and volatile which means it can be high risk and when we all have different levels of risk tolerance I would recommend only risking one to two percent of your entire account balance on any one trade this will help protect you from large losses even for my tiny 100 trading challengeWhich is far smaller than my total account balance I started by trading just 10 of that 100 to limit risk so I didn't just get wiped out on a bad trade once that grows to around a thousand dollars I'll only use one to three percent of the balance for my trades youHave to be safe what I'm trying to say is if you have a ten thousand dollar account you shouldn't be risking more than 100 to 200 on any one trade that's important there are way more ways to manage risk beyond that such as trailing stop losses which we'll cover later butFor now just remember that one to two percent rule because it will protect you not if when disaster strikes foreign technical analysis is a tool that helps you become a more well-rounded Trader that said as with anything in trading it cannot predict the future nothing can noMatter what fortune tellers try to tell you and of course we have to do the obligatory this video is not Financial advice and now that the lawyers are satisfied technical analysis is doing your homework on a trade making sure it's not a scam seeing how Traders areEngaging with the asset and using tools to give you more information to make the best trade possible this all helps us estimate whether the trends that are happening right now also known as the price action will continue in the future to do this you look at Price movementsAnd use indicators to suggest when may be a good time to buy or sell your assets so how do you get started in technical analysis the first is the Candlestick chart the Candlestick chart is a snapshot of how prices are changing for some reason this looked like a Candlestick to me aRed daily candle tells that for the day the asset closed at a loss and you guessed it a green candle tells us that the price went up but even more important is to look at the opening and closing prices if the candle is red then the closing price is the bottom end ofThe candle with the opening price at the top the opposite is true for green candles the bottom is the open price and the top is the closing price for green candles this tells us a lot about what the market is actually doing especially considering you can set candles to showPrices per minute per hour per day really anything you wanted to set it to but the detail doesn't stop here there's also the wick slightly less cool Wick these ones they tell us what the highest and lowest prices were for the time interval in which your candles were set so if youHave a one minute candle then the top Wick that shows how high the price went within that minute change it to a five minute candle and the work will change to show the price action within that five minute time frame Wix can extend well beyond the closing price of aCandle meaning the longer the wick the more volatile the market actually is and there's also specific meanings for red and green Wicks long Wicks at the bottom of red candles show that prices fell fell to what many considered to be the cheapest price within that interval naturally people bought back in at thatLow price driving the price back up sounds great but remember long Wicks mean more volatility so things can easily go the other way short Wicks at the bottom of a red candle this means Traders may be continuing to sell so proceed with caution for a green candle a long Wick means the priceSignificantly exceeded the closing price during that candle interval meaning Traders may have thought that this was the top and decided to sell in order to take their profits again a long Wick indicates volatility and may suggest the price will fall a short Wick at the topOf a green candle is common when the price is at an all-time high some say that this is a good time to sell if you're looking to leave the position a good time to buy according to technical analysis is to buy when there's a red candle with a long bottom Wick and aShort top Wick but guess what before you think any of that is easy there are red candles that look like perfect buying opportunities only for the price to Tumble afterwards meaning you'd lose money and this is because there's no Tools in trading that can account for investor sentiment there's nothing thatCan predict that news event that just broke or investors freaking out about some Elon tweet so you always have to proceed with caution if anyone tries to tell you otherwise if they try to save that they're future tellers or they know exactly what's going to happen in theMarket they're probably trying to con you out of some amount of money candlesticks and Wicks aren't the end-all be-all of technical analysis there's also trend lines trend lines are the practice of finding the overall movement in price otherwise known as the trend now many exchanges will have automatically generated trend lines thatYou can look at but you can also create them yourself connecting from the bottom of one Candlestick to another with enough points you can project your trend line into the future to help you determine where the price may be headed that said you're going to want toCompare multiple trend lines to get a better picture to help draw conclusions from thank you support and resistance lines are horizontal lines that you can draw onto your price chart as well support shows the lowest price at which investors are willing to buy that asset typically when there's the highestDemand if it's continually bouncing off of a specific price that's its support resistance is the highest price at which investors stop buying and start selling instead you can build your trading strategy around these points because there's a lot of action in between those points and they're pretty predictableWhen lots of Traders start doing this you enter a situation called trading sideways Trading sideways looks like this and it means the price isn't changing that much over a period of time for example take a look at this chart but the fun doesn't stop there formations show you the typical Direction an asset is headed here are some popular ones that you may seeReference this pattern could be referred to as a wedge pattern if the trend lines had connected it would be a pennant pattern flag patterns are two parallel trend lines that can head up down or sideways a cup and handle pattern is when the price increase has paused theBowl shape is Then followed by what looks like a pennant chart pattern this might indicate a further breakout in price a head and shoulders Trend following an increase in price May indicate the price will decrease a reverse Head and Shoulders Trend following a decrease in price May indicate the price will increase nowIt's important to note that humans love finding patterns and all kinds of things and there are a million different chart patterns that can mean a million different things but this doesn't mean that that expectation will always come true again this just helps paint a more clear picture but doesn't tell you theFuture using these to your advantage can be tricky if you're a beginner it's likely that you'll make a huge mistake and let me explain this image shows a price appearing to break through a formation this is when most new Traders will buy but this is a mistake theYellow circle is the moment this asset broke out of the formation and it looks like it's headed for a Trader's ideal price Target but this is the wrong time to buy because this is where you need to be patient and wait for what's called the confirmation bounce which is theGreen circle the price bounces off of our resistance line and indicates the best moment to enter the trade if it bounces to the upside you enter a long position if it bounces to the downside you enter a short position but not all trades are created equally and to seeWhy you need to look at trading volume trading volume is the total dollar amount of assets that are bought and sold within a specific time frame higher trading volume generally indicates higher interest in a particular asset lower trading the reverse lower interest when you combine this with Trends youGet more information about how strong that Trend actually is basically the more money AKA trading volume behind a trend eight thousand no this possible the more powerful it is for example two Trends might look the same on a Candlestick chart but if one had one million dollars in trading volumeAnd the other had 10 million in volume then the latter is a much much stronger Trend here's a tactic that you can use to help profit with this information monitor trading volume of an asset on days when the price went up and days when the price went down if the volumeIs higher on positive days this tells us that there's a potential for the asset to continue trending upwards in the future this kind of information can help you know when to actually enter a trade but when do you exit one this may be the most important piece ofTrading because if you're a beginner you'll be trading spot and not using leverage in essence this means you'll be using your own money in your trades rather than taking on debt to trade even more so when do you exit your trade well if you're just trading one to twoPercent of your own money you won't have enormous losses at stake which is great this gives you a bit more leeway on when you can exit and you'll be far less emotional about those decisions remember keeping those emotions as low as possible it's such a major key butHere's the exit strategy first you want to have a profit Target this will give you a clear price level that you want to hit it's super important to always go into a trade with a specific plan going back to that screenshot from the 27 profit trade you can see that it saysTarget three hit that's because this coach always has multiple layers of Target prices that he uses as stages where he can safely exit the trade this is so extremely important and you can even automate made it using a stop loss order this will sell for you once thePrice reaches a certain level helping you to limit losses and helping keep those emotions down and Away here's where you can set them up on buy bit however a stop loss can sometimes limit your profits let's say your stop loss sells but then the asset keeps on goingUp in price afterwards you could be missing out on some serious super profitable trades because of that you can also use a trailing stop loss this is a dynamic stop loss order that adjusts to the market price as it moves in the direction that you want so here'sAn example let's say you enter in a position at one thousand dollars and set a trailing stop loss of 10 percent that means the stop price will be set at nine hundred dollars but if the market keeps going up to let's say eleven hundred dollars the stop loss will then adjustTo one thousand dollars so it's always ten percent below the peak price meaning you can only ever lose 10 percent from the highest market price if you're trading a short position this would be the same but in Reverse with your trailing stop loss above the market price rather than below it here's aTrailing stop on Weeble for trading stocks they make it super simple change the order type and then you choose a percentage or a dollar amount that you want to go with let's go with percent and five percent this means the app will automatically sell if the asset dropsFive percent from current levels meaning if it goes up will net new profit if it goes down we can only ever lose five percent so a trailing stop loss can protect your profits while allowing you to gain much more potential upside that's huge but you still need to mitigate riskThere are a bunch of ways to lower your risk in trading we've talked about a few of them already stop loss orders trailing stop loss orders we've also gone through the big one not getting emotional again no matter how much you feel the price is going to go up or downOr any any particular direction you must ignore that and stick to whatever your trading plan is please keep the emotions down if you learn one thing that's it but on top of that you can also look at two different things the first is market cap if you're trading a crypto or stockThis is where you multiply the current price by the number of shares or coins in the market the larger the number the less volatile the asset should be simply because it takes more money to move a larger asset the next tool you can look at is the RSI the relative strengthIndex this is a figure displayed as a number between zero and one hundred the RSI measures the strength of an asset it Compares recent gains to recent losses to see whether the asset is overbought or oversold more simply when the RSI is over about 70 that's typically considered overbought below 30 it'sConsidered oversold and you can view it on an oscillator graph okay but how can you use it the first is for trade signals if an asset is overbought you could take this as a sign to sell if the asset is oversold this could mean there's a price increase right aroundThe corner divergences between the RSI and the market price could also suggest that a trend is about to reverse likewise if the RSI is rising alongside the price it could suggest that a trend is quite strong in general the more tools that you master and utilize theMore you'll be able to mitigate risk on your trades so let's do some actual trades we're going to do a stock then a crypto trade the mechanics are very similar for each but for stocks you're going to want to make an account with Weeble Linked In the description get your free stocksThen find an asset to trade we're going to check out ticker symbol Aur but before we buy we're going to set up some trend lines we're going to do so on the top and the bottoms of the candles we have kind of a descending wedge going onHere with the support level at around one dollar and seven cents the price is currently at 1.25 cents we're going to use a limit order set at 1.25 cents a limited order means the trade will execute at that specific 125 price then after the order we'll set up a trailingStop order at around a dollar eight a dollar oh seven we're looking for a Target price of up around 1.40 after all looks good we hit place order after we place the order that trade would then go down into either the working or the filled tabs after we own the asset weThen go to the sell tab this is where we set up the protection and we change the order to a trailing stop order then we enter in the distance between our price action and the stop price that we're looking for in this case that would be 18 cents less because the current priceIs 1.25 and 18 cents less than that will land us right around 1.07 1.08 just below that support level this again protects our downside in case we break through that support level then we click place order to set that up just in case and of course as the price goes up thatTrailing stop will follow that price upwards protecting our downside and securing that profit now let's do a trade in crypto using some slightly different strategies here we are on buy bit again you'll want to make an account below fund your account and then go upTo the trade tab up top and then go to spot trading on the search bar you can type in any crypto ticker symbol but right now we're going to check out the biggest movers in the last day and see if there's any action this Apex coin hasBeen doing quite well so let's check it out we're on the five minute chart right now and remember that means each candle represents a five minute interval we're going to go up to the trading view tab which gives us even more options on this chart click and drag that sidebar toHelp adjust things if you need a slightly different View and then we're going to draw some trend lines in order to do that there's going to be a little icon in the bottom left click that to expand the menu give you way more options then click the line icon andPlace it across the tops of the candles then add a trend line on the bottom our Target price is around 37 cents near the previous highs within this specific Trend that'd be around a 10 percent gain in profit we're going to do a small Market order which means we're buying atThe current market rate even if that market rate changes a little bit we're still buying click buy and now we're going to set up a stop loss now this trade has a decent risk of dropping below that trend line so we're going to set up a really safe stop loss at 0.339Just below the bottom of that support level this will help again protect our downside risk here that way we don't get into a bad trade and lose like 20 30 percent the most we can lose here is just a couple percent then you can view that pending stop loss on the tab belowAnd you can see at what price it'll execute if the price does end up dropping and now we wait that's really it that's trading for beginners you've got more to learn but now you know the basics to go ahead and get started subscribe why is this so sad