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What is trading?

Trading is the buying and selling of financial instruments in order to make a profit. These instruments range from a variety of assets that are assigned a financial value that can go up or down – and you can trade on the direction they’ll take.

You may have heard about stocks, shares and funds. But there are thousands of financial markets you can trade, and a variety of products you can use to trade them.

What assets and markets can you trade?

There are more than 17,000 financial assets and markets that you can trade.
These include:

Shares

Indices

Forex

ETFs

Bonds

Commodities

Interest rates

IPOs

Whatever instrument you trade, the ultimate intended outcome is always the same: to make a profit. If your speculation about the market’s movement is correct, you’ll make a profit. But, if the market moves against your position, you’ll make a loss.

💬 “100” below to receive my free guide showing you the steps to take to become a successful trader.

Day 1-5: Trading Preparation

  • Define your ‘why’
  • Identify your short, medium, and long-term goals
  • Identify your risk tolerance and capital allocation

Day 6-20: Trading Fundamentals

  • Study trading types (scalp, intraday, swing, position)
  • Research financial markets (stocks, forex, crypto, commodities)
  • Choose the style and market that suits you

Day 21-35: Building The Basics

  • Learn from YouTube, books, and podcasts
  • Book recommendation: “Market Wizards” by Jack D. Schwager
  • YouTube suggestion: The Trading Channel
  • Podcast suggestion: Words of Rizdom

Day 36-40: Trading Environment

  • Make sure your hardware and software are optimal for trading
  • Create a productive and organized trading station

Day 41-60: Technical & Fundamental Analysis

  • Learn price charts, time frames, candlestick patterns, price action, trends, market structure, and support and resistance
  • Study fundamentals such as economic indicators, global events, and more

Day 61-70: Study Risk Management

  • Stop-loss and take-profit orders
  • Risk planning
  • Risk-to-reward ratio (RR)
  • Position sizing and margin

Day 71-80: Navigate Trading Psychology

  • Study psychological factors that drive price action
  • Understand the Wall Street “Psychology of a Market Cycle” Cheat Sheet
  • Create stress management techniques in trading
  • Become familiar with emotions that influence trading decisions

Day 81-90: Develop a Trading Plan & Strategy

  • Establish a systematic method for identifying trade positions
  • Create a trading journal
  • Implement timeframe analysis

Day 91-100: Test Your Plan & Strategy

  • Test your plan and strategy on a demo account
  • Analyze your results and refine your plan

Day 100+: Execute Live Trades

  • Transition to trading a live account
  • Learn from your mistakes
  • Start low and go slow
  • Don’t give up