Australian (ASX) Stock Market Forum

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New to trading


Hi guys :)


I'm new to this site, and I'm relatively new to trading as well. I was hoping that you guys could help to set me in the right direction.


I've only been looking into trading on the stock market for about a month now, so I only have a very basic knowledge of how the stock market works. I've watched videos and read a few things that a friend showed me, and I am interested in day trading options.


I was wondering where the best point to start with this would be? I have been reading about candle charts mostly, as well as identifying trends and patterns in stock market data.


My current understanding of day trading options, is that you are looking to identify an edge that puts the odds in your favour, and then act upon that edge, and through sticking to specific rules you have made for yourself (based on how much you are willing to risk), you will be able to make consistent winning trades. Is this basically the concept?


I am not looking for a 'get rich quick' scheme as I know the only way you can be successful on the stock market is if you educate yourself about it (as well as gain experience), just like all things in life. I'm more interested in learning about how I can become a consistently successful trader so that I can make a living out of it whilst taking risks I am comfortable with. Any helpful advice would be appreciated. :)


Lastly, I am also aware of the psychological effects trading can cause such as emotional pain, fear, greed, etc. and I was wondering if anyone has any advice on how to manage these? From my current understanding, I think the more you think like a robot and the less emotion you bring to your trading, the more consistent your results will be :)


Thanks for any help you guys can give me, I do really appreciate it.


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