Through this article, I am going to explain the most important ways to improve trading. If you are eager to learn Intraday trading but don’t know the right path or exact process for learning it, then welcome! This article is for you.
After reading this article, you will get the exact process of doing profitable trading.
So without any delay, let’s get to the topic.
1) Paper trading can help beginners in gaining some confidence in their strategy.
Often, due to excitement, or we can say due to the urge of making money, many people enter into the market without even knowing all the rules of trading or testing their trading strategy. I think this is not the best approach towards entering the market because if you enter into the market without practice, the chances of becoming a profitable trader over the long run are very less.
If you are a complete beginner and don’t know anything about the markets then, paper trading can help you in testing your strategy, and eventually, after successfully backtesting that strategy, you will be quite confident about deploying that strategy in live markets. I think paper trading is the best way to practice your strategy and get exposure to markets. Once you become profitable over a month or 2 then you can trade with your real money but with very little, and limited capital.
Often many traders ask me which is the best platform for paper trading. As there are not many options available online for paper trading. In my opinion, TradingView is the best platform for paper trading which offers you everything including charts.
I have made an entire video that explains to you how you can operate your paper trading account in TradingView. To check that video, you can click on this link- What is PAPER TRADING? | Paper Trading Using Trading View | BOOMING BULLS
If you are interested in opening a paper-trading account with TradingView then you can click here to open your account-https://bit.ly/tradingviewac
Once you are ready to trade in the live markets, you need a good broker through which you can trade. I personally use Zerodha as my broker, which is India’s Best Discount Broker. To open your account with Zerodha, you can click here- https://bit.ly/3gyhIWN
2) Learning From the right resources is very important.
When it comes to stock market trading, there is a lot of information available online or a lot of videos available on the YouTube Channel giving you the knowledge on the surface level, but through our Booming Bulls YouTube channel, I have given you so much valuable content that includes everything from basics to advance. By watching our videos, any beginner can also learn trading and earn consistent profit for completely free. To visit our YouTube Channel click the following link – https://www.youtube.com/c/BoomingBulls
Also, through our blogs which are available on our website, I have provided you with a lot of valuable content related to trading. Here are my top 3 favorite blogs –
In case, if you are a beginner in trading and want to start from the basics then you can check out our Beginner’s Guide to The Stock Market Series, where we have explained all the basic concepts related to the stock market.
You can also follow us on Instagram, where we keep on posting valuable key learning notes- https://www.instagram.com/boomingbulls/
3) Work on your setups and journalizing your trades.
Analyzing your trades and working on high probability setups is the most important thing in profitable trading. Often, traders don’t plan their trades, and they trade randomly as a result, they fail to maintain that consistency in trading.
Maintaining a proper trading journal is very much important because it helps you to improve your psychology. When you enter a trade, there will be numerous thoughts coming to your mind, you have to journalize every thought so that once the trade is over, you can analyze your thought process and improve your mistakes.
Through our Booming Bulls Elite Traders Live Mentorship Program, we give you the exact way to write a journal and also, tell you about the right way of analyzing your trading journal so that you can continuously improve your psychology and your trading.
4) Join the Trading Community.
Connecting with the people who are having the same passion as you, will always work for your benefit. As a trader, you should keep on learning from different sources.
Well, if you are a new trader then this is going to help you a lot. We have a premium Facebook group where we have formed a community of traders, and in that group, we daily share high probability chart patterns or setups. As a beginner, you can follow those setups, or you can learn from those setups, and also you can trade them as well with proper risk management principles.
Also, We don’t provide any tips or calls. We just share setups that can be helpful for you, and also, you can learn from them. One more advantage of joining the Booming Bulls Community is that we provide instant news updates on our WhatsApp groups so that you don’t need to surf different news websites.
A lot of new traders have benefited immensely from this. Also, in the future, we are planning to launch our discord server wherein we are going to add all our Booming Bulls Students to that group.
Through that discord server, we will be sharing intraday trading setups as well as swing trading setups regularly so that, you can easily track those setups, and just in case you don’t have enough time to do your own analysis, you can trade using our analysis that will be shared across our discord channel.
These are the key advantages of being a part of a trading community. So, if you are a beginner and eager to learn, you can definitely join our Booming Bulls Community.
5) Develop the habit of reading books.
As we say learning from our own experience is important but learning from others’ experiences is very much an important and smart thing to do. Trading is a continuous learning process, and you will keep on learning from your own experience.
But, In order to learn from others’ experiences, reading books is one of the best ways to learn. I feel that when an author writes a particular book he/she eventually tries to share his/her experience and through those experiences, we can learn a lot that is why developing the habit of reading is important, and it will help you a lot in your trading.
If you want some good trading books of great authors, then you can refer to Booming Bulls Resource Page, where we have shared every informative book related to trading and also, we have specifically mentioned below each book, whether it is for Beginner, intermediate or experienced trader.
So, these are the different ways through which you can learn trading. I hope that this blog adds value to your knowledge. If you have any suggestions, then please post them in the comment section. Happy Learning!
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