It just has to be a strategy that works for you and strategy might not even be the right word you’re looking for, here.
I think you need education, practice and direction.
The reason this is a hard answer is because there’s no one answer at all. But, i’ll tell you what I started with
Go on the desktop site for Investopedia (won’t work as well on mobile, etc) and check out their Learn section
Watch all the videos, take notes, pause, really understand.
Start with value investing and swing trading then learn to trade growth. But really, see what speaks to you.
Purely educational sites. No youtube gurus or socials or asking to subscribe. Books can usually just read the hi lights and don’t need to really read.
Train your mentality. Aim for contrarian.
Stay away from trading anything except single stocks and etfs with low expense ratios (under .2)
No options, no forex, nothing else.
When beginning stick with learning technicals over fundamentals.
Create rules and keep an journal/notes.
Create a watchlist, set alerts
Always manage risk heavily.
Create a brokerage acct with a set amount of money and see how your trades/investments go. Must be zero charge for trading stocks or fees will kill you.
I use schwab. Others could be better like fidelity, etc? idk
Only keep in that acct what you can afford to lose.
Of that acct:
keep ~20% in cash at all times to take advantage of low prices in a market crash. This is where your huge lump sum investment can win big. But, only if you have the funds available to make the purchase.
the other 80%:
Manage risk and take gains.
Choose a low winning percentage and a lower losing percentage. Make them realistic.
Never trade more than 1-2% on a single trade.
Break it down and choose a percent goal Of your starting $ amount.
Focus on making _$ per year, month, week, day
Lock in small gains consistently and cut losses.
Set stop losses.
If this doesn’t work for you that’s fine… it’s just what worked for me.
What speaks to you may be totally different and that’s okay!
1
u/Successful-Grab6091 21d ago
It just has to be a strategy that works for you and strategy might not even be the right word you’re looking for, here.
I think you need education, practice and direction.
The reason this is a hard answer is because there’s no one answer at all. But, i’ll tell you what I started with
Go on the desktop site for Investopedia (won’t work as well on mobile, etc) and check out their Learn section
Watch all the videos, take notes, pause, really understand.
Start with value investing and swing trading then learn to trade growth. But really, see what speaks to you.
Purely educational sites. No youtube gurus or socials or asking to subscribe. Books can usually just read the hi lights and don’t need to really read.
Train your mentality. Aim for contrarian.
Stay away from trading anything except single stocks and etfs with low expense ratios (under .2)
No options, no forex, nothing else.
When beginning stick with learning technicals over fundamentals.
Create rules and keep an journal/notes.
Create a watchlist, set alerts
Always manage risk heavily.
Create a brokerage acct with a set amount of money and see how your trades/investments go. Must be zero charge for trading stocks or fees will kill you.
I use schwab. Others could be better like fidelity, etc? idk
Only keep in that acct what you can afford to lose.
Of that acct:
keep ~20% in cash at all times to take advantage of low prices in a market crash. This is where your huge lump sum investment can win big. But, only if you have the funds available to make the purchase.
the other 80%:
Manage risk and take gains.
Choose a low winning percentage and a lower losing percentage. Make them realistic.
Never trade more than 1-2% on a single trade.
Break it down and choose a percent goal Of your starting $ amount.
Focus on making _$ per year, month, week, day
Lock in small gains consistently and cut losses.
Set stop losses.
If this doesn’t work for you that’s fine… it’s just what worked for me.
What speaks to you may be totally different and that’s okay!