Basics

Start with good principles

It doesn't matter what you start trading in, here are some principles to consider.

  • Never risk all or most of your money in a single trade
  • Start small until you are confident
  • Never risk more than you can afford to lose
  • Trade by a system, not emotion

Making your first million

Develop your highest and best skill

Work out what your best skills are that people are willing to pay for. If you lack skill then develop one before trading.

  • Earn money from a job or skill before trading.
  • You have to have a balanced budget, set aside money from your work to start trading with
  • Measure and record what you do.

Strategy

Work out what you plan to do

  • Build your own cash machine to pump tens thousands of dollars or more into account every month
  • Learn different trading styles, such as technical or fundamental trading
  • Learn to read graphs
  • Learn to read profit & loss statements and balance sheets