5 Stock Trading Tips For Beginners – Ultimate Guide

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Wall Street can be unpredictable with market volatility, economic pressures and global uncertainty. Although stocks can bring growth to your portfolio, there is also a certain level of risk. Stocks, by definition, are risky assets. This is why it is so important for new traders and investors to consider the level of risk they are willing to take.

But what other business rules should they consider? Gareth Soloway, Chief Market Strategist at InTheMoneyStocks.com, reveals his 5 trading tips in the video above, which is excerpted from The Series of Winning Traders.

Chart: 5 trading lessons for beginners

Learn how to become a winning trader in stocks, crypto, commodities and forex in this 3-course series with Master Trader Gareth Soloway.

Soloway joins Kitco News’ David Lin to offer viewers insight into what you need to unlock your journey to becoming a master trader, including; Personal discipline, understanding psychology and reading charts with trading setups.

No emotion, no hype – just chart setups and pure probabilities. Register for The Series of Winning Traders.

Gareth Soloway_QUOTE 11
Gareth Soloway_QUOTE 12

Video Transcript | Gareth Soloway, Chairman, Chief Financial Officer, Chief Marketing Strategist, InTheMoneystocks.com

Gareth Soloway: I was at a point where I was almost a profitable trader anyway, so it was just a matter of learning. Can I learn from what I just did there? And I’ll tell you the easy way to learn, number one, and that’s what I still do today when I find a level I like in a stock, number one, using the techniques.

Second, I never enter a large position to begin with because the markets are unpredictable. Fear and greed dominate the market. So, I will say, OK, what is the total amount that I would commit? And by the way, this total amount was what I bought the first entry on this stock.

Instead, I say, what is the total amount I’m going to commit and I won’t go higher than that. And I’m going to do like a one-sixth position. So I take, say 100,000, divide it into 6 equal increments, and then that first entry, I only put in a sixth. Now what that does is it limits your advantage if you’re right. If you are dead, it limits your advantage. But that’s okay because, in trading, the most important thing you can do is limit your losses. Always play defensively, it earns you more money.

The Series of Winning Traders | A Complete Guide to Mastering Stock and Crypto Trading

In this new series of courses from Verified Investing Education, Kitco Media and The Better Traders, you will gain access to Gareth Soloway’s turnkey system for finding, evaluating and profiting from trades on a daily, weekly and monthly basis using techniques of masters level. analysis.

Register for The Series of Winning Traders.

David Lin: You always put a stop-loss (order)?

Gareth Soloway: Yeah, I still have a mental shutdown. Mental, I wouldn’t say I like a physical (stop-loss order). And listen to the people watching, if you can’t handle them and you can’t respect them then you have to use a physical stop. If you’re away from the computer, say you’re going on a trip or going to sleep, you should use a physical shutdown. But for me, keep in mind that I am a trader. I’m behind my computer pretty much all day.

Editor’s Note: Kitco Media, a global authority on precious metals, commodities and mining, which generates and distributes cutting-edge news, market insights and data to a global audience, is a long-term partner of TheStreet.

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