"NEVER TRADE WITH MONEY, YOU CAN'T AFFORD TO LOSE "
The first thing you need to take care of when it comes to trading is your war chest.
The money you use for trading should not have any emotional attachment to it.
What I mean by this is that the money should not be needed for your rent, insurance, or groceries at the end of the month.
If you trade with money that you also need for other expenses, then emotions will inevitably come into play during trading, and your decisions will become less sharp and more prone to losses.
This is a recipe for guaranteed losses.
In this situation, you are doubly screwed.
On the one hand, you are not maximizing your trading skills and on the other hand, you may end up eating cheap canned food and begging your landlord for more time with some lousy excuses.
Additionally, you should never offer to trade for others and take a percentage of the profits, even if the person is wealthy and can afford it.
Trading for someone else means losing your freedom and becoming a slave again.
You will have to report back to them periodically, which will affect your emotions when trading.
The money you use for trading is yours and yours alone, and you should be able to afford to lose it.
If you don't have a war chest yet, I recommend paper trading (trading without real money to practice) for now and continuing to follow me.
