For anyone looking to make their first trade as an investor, learn how to first make $1
The greatest pitfall I see new investor have is not properly scaling their investing strategy. If you do in fact see yourself learning how to successfully trade the market and use the tools available to anyone to increase your income dramatically for the rest of your life then start with being able to earn just $1. This will teach you’re the greatest skill of all that most individuals who trade struggle with and that is self-control.
I personally remember back at the start of 2017 investing in Litecoin at just about $20 USD a coin.
I had bought about 500 coins and held on to them all through the year and saw my account value grow at rates I could not even believe. I am sure you know where this is going next, because just as fast as it rose up it came crashing back down. The reason that I personally failed to lock in my profits was due to my lack of self-control. I felt that my coins were untouchable and that they would continue to rise making me one of the next individuals to create incredible financial success through my investment. I lack the discipline and structure to be able to consistently earn profits and in reality I was treating my investment like a lottery ticket.
Creating the discipline and structure to be able to earn just $1 and close the trade fell almost a bit silly and mundane at first. In the long run, being able to have this kind of control is going to lead to a future of succesful trading and consistent returns. Once you have the art of earning $1 in the market then you can increase your target to $5. Have patience and control when trading the market emotions can tend to affect decision-making.