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Is It Your First Year Trading? Where Can You Succeed?

So it's your first year as a trader. You've taken the plunge and now you want to know how to get decent returns and not lose your shirt in the markets with your first year.

Well..In general a good rule of thumb is to attempt to break even your first year, but many ignore this goal and go for much larger returns.

Stick to dividend stocks and low volatility stocks. It'd be better to start swing trading rather than jumping into day trading risking 4+ trades a day. That's a good way to lose your shirt.

Set out untraditional rules for your account money management you wouldn't see in other portfolios. Such as: 'Once I buy a stock I will let it sit at least 2 hours before touching it again.' Or 'Once I've lost 5% account equity in a month I'm done trading for that month'.

With obscure rules for your account like this you might learn patience and holding back greed the hard way but it will save your account in the long run.