Watch others trade but do not copy the trades unless you understand what they are doing and why.
With proliferation of social media and blogs on trading you will see several thousand trades being shared in real time.
If you are new to trading and get tempted to start copying others trade , you may find it difficult to shake that habit.
Always think if you rely on someone for your stock picks and do not develop your own method, what will happen if that person gets hit by a truck.
The other problem is you do not know what is the motivation of a person sharing a trade. On very thinly traded stock with low float, sharing a trade after the person has entered at favorable price , might just be a way to attract more buyers to the trade and sell into that strength.
Always think if you rely on someone for your stock picks and do not develop your own method, what will happen if that person gets hit by a truck.
The other problem is you do not know what is the motivation of a person sharing a trade. On very thinly traded stock with low float, sharing a trade after the person has entered at favorable price , might just be a way to attract more buyers to the trade and sell into that strength.
Besides that unless you know what method a person is using to find these trades and completely manage the trade , you can not replicate same trade on another stock.
One trade or even few dozen trades from a trader does not tell you how the person is making money. For that you need to know how much he or she is risking.
Look at others trade dissect what those traders do and say. Tear apart their trade in parts like vehicle selection, entry, exit, risk, stop, and understand the component , try to reverse engineer it to fit your own style. Try to think why are they doing that. Then place it together. That way you will have permanent learning.
It might take you months to get your own method together but once you do that you will have conviction.
In a world full of followers be a leader and not follower...
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