Quick Start Guide: Mastering the Basics of Trading
Welcome to the world of trading! In this guide, you’ll find everything you need to get started,
including the essential resources, software, principles, mindset, and tips to avoid common mistakes.
This guide is designed to put you on the fast track to profitable trading by focusing on simplicity,
discipline, and execution.
1. Getting Started: Watch These First
Start Here
Before diving into any trades, take a moment to watch this introduction to trading, which provides a
step-by-step overview of what you need to know as a beginner:
Watch the Video: Introduction to Trading
How to Start Trading on Tradovate
If you’re planning to trade futures, this guide will walk you through using Tradovate, an essential
platform for futures traders.
Watch the Video: Tradovate Walkthrough
2. Essential Resources & Software
Here are the tools and platforms you’ll need to start trading:
• Charting Software: TradingView
Use this for charting, technical analysis, and marking key price levels. TradingView is user-friendly
and offers excellent charting tools for analyzing price action across various markets.
• Forex Broker: OspreyFX
OspreyFX is the broker you’ll use for trading Forex. Once you sign up, OspreyFX will guide you
through connecting to the TradeLocker platform, which is the trading platform where you’ll execute
your trades. TradeLocker integrates with OspreyFX and provides you with all the tools you need to
enter the Forex market.
• Futures Broker: Tradovate
Tradovate is the ideal platform for trading futures. It offers low fees and a user-friendly interface,
making it perfect for beginners.
• Forex Funded Accounts: FunderPro
If you don’t have a lot of capital, this platform lets you trade with funded accounts. Simply pass
their evaluation, and you can trade with a substantial account size.
• Futures Funded Accounts: TakeProfitTrader
Similar to FunderPro, Take Profit Trader allows you to trade futures with a funded account after
passing their evaluation phase.
3. Core Trading Principles
To succeed as a trader, you need to develop a strong foundation. Below are core principles you’ll
want to live by:
A. Focus on Quality Over Quantity
Most new traders make the mistake of thinking they need to take every trade they see. Joovier’s
philosophy teaches the opposite: trade only high-quality setups. Fewer trades with higher
confidence will lead to better long-term results.
B. Master a Simple Strategy
Don’t overwhelm yourself with too many indicators or strategies. Start with price action, basic
support and resistance, and candlestick patterns (Heikin-Ashi candlesticks are highly
recommended). Master these, and you’ll be ahead of most traders.
C. Risk Management Is Everything
The key to surviving and thriving in trading is proper risk management. Never risk more than 1-2% of
your account on a single trade. Protect your capital at all costs—this is your lifeline in the market.
D. Be Patient
Success in trading isn’t about making fast money; it’s about consistent profits over time. Many
traders fail because they are impatient. Stick to your strategy, wait for the right setups, and don’t
chase the market.
4. Mindset of a Successful Trader
Trading is 80% psychology and 20% skill. Here are the key mindset shifts you need to make:
A. Accept Losses
No trader wins 100% of the time. Accepting losses as part of the process is crucial. Every loss is a
lesson if you reflect on what went wrong and how you can improve.
B. Stay Detached from Money
If you’re emotionally attached to your trades, you’ll find it hard to make rational decisions. View
money as points in the game of trading. Stay emotionally neutral, and your decision-making process
will improve.
C. Stick to the Plan
One of the most common mistakes is deviating from your trading plan. Trust the process and follow
your rules strictly. Avoid emotional trades and only act based on your pre-determined strategy.
D. Develop Discipline
Discipline is everything in trading. Following your strategy, managing risk, and executing your trades
according to your plan is the path to long-term success. Without discipline, you’ll end up gambling
rather than trading.
5. Common Mistakes to Avoid
Starting out in trading can be challenging, but here are some common mistakes you can avoid from
day one:
A. Overtrading
Trading too often is one of the biggest mistakes. Focus on high-probability setups and A+ trades
only. Less is more in trading.
B. Using Too Much Leverage
Leverage can multiply your profits, but it also multiplies your losses. Many beginners misuse
leverage, which leads to blowing up accounts. Use leverage sparingly, especially in the early stages.
C. Neglecting Stop Losses
Never trade without a stop loss. It’s your safeguard against large losses. Always have a pre-set
stop loss based on your risk tolerance and trading plan.
D. Chasing the Market
Don’t jump into trades out of fear of missing out (FOMO). Wait for your setup to develop properly
before entering. Chasing moves usually results in losses.
E. Emotional Trading
Avoid revenge trading or trading out of frustration. Always approach the market with a clear and calm
mind. If you’ve had a string of losses, take a break and reassess.
6. Your Next Steps
Now that you have the resources and the mindset required to begin your trading journey, it’s time to
take action. Follow these next steps to kick-start your path to trading success:
1. Set Up Your Accounts
• Sign up for TradingView, OspreyFX (with TradeLocker), and Tradovate to get your
charting and trading platforms ready.
2. Start with a Demo Account
• Begin with a demo account on both Forex and Futures platforms to practice without
risking real money. This will give you confidence in your strategy and execution.
3. Complete a Trading Plan
• Write out your trading plan: your strategy, risk management rules, and daily
routines. Follow this plan religiously to avoid emotional trades.
4. Stay Consistent
• Trading success doesn’t come overnight. Be patient, follow your checklist, and stay
consistent with your process.
Final Thoughts
Trading is a journey that requires discipline, the right tools, and a mindset built for success. By
following the principles in this guide, you’ll set a strong foundation for profitable trading. Remember,
the key is patience, practice, and consistency. With the right mindset and tools, you’ll be well on
your way to achieving your trading goals.
Good luck, and welcome to the world of trading!
