I had a great conversation with someone new to trading last night.
Like many I speak to who are just walking in to this wild arena of stock picking, trading and investing, all the questions being asked were the wrong questions.
First of all, stop talking, thinking, adding up and counting THE MONEY.
The money is the spoon. There is no spoon. Forget the money.
Learn how stocks move. Watch them move, that is it. Try to understand just what is actually going on here. It has nothing to do with money, and everything to do with how human beings are wired and how we act, react, think, feel etc. and so on.
Once a trader is able to tap into the raw emotions and flow of the market and see the entire matrix for what it is, it then becomes much easier to identify where and when to take action in order to gain ground.
It really is that simple but unfortunately you will not be able to understand anything that I just said until you have spent many many hours watching in real-time what I described above. This is why I often recommend paper trading and realizing that it really does not matter whether it is real or not. If you can disconnect from your emotions and be surgical like a machine, the only thing different will be the technical execution prices etc. which are obviously different in reality.
I hope this analogy helps you in your trading.
Have a great day!