Hi everyone,
I'm an 18-year-old beginner trader looking for honest advice and constructive criticism.
My goal isn't to get rich quickly—I just want to become consistently profitable and make a small monthly profit over time. I'm a student, so my trading budget is only around €100–200.
So far, I've practiced on a paper trading account, and I recently opened my first real funded account. On my first trade, I accidentally bought at a higher price than I intended because I made a mistake with my broker's order settings. It was a good lesson, and I'm trying to learn from it.
My current strategy ("First 5 Minutes Method")
I wait for the first 5-minute candle after the market opens.
I mark the high and low of that candle.
Then I wait for a breakout.
If the price breaks above the high, I look for a bullish trade.
If it breaks below the low, I look for a bearish trade.
I also:
Research the company before trading by reading news and articles.
Try to understand how recent events might affect the stock price.
Always use stop-losses to manage risk.
I know the basics of derivatives, including knock-out certificates, although I'm still learning.
I understand that no strategy wins all the time, and I know I will make mistakes as a beginner. I'm here to improve, so I'd really appreciate any advice on:
What I'm doing right or wrong.
How I can improve my strategy.
Risk management tips.
Common beginner mistakes I should avoid.
Any books, courses, or resources you would recommend.
Thanks in advance for taking the time to help—I appreciate any constructive feedback!