Kirill Yurovskiy: The Complete Guide to Becoming a Trader

Are you tired of the 9-5 rat race? Dream of making it big in the exciting world of finance? Want to quit your boring desk job and start trading stocks, forex, cryptocurrencies and more from anywhere with just a laptop and an internet connection? This is the guide for you.

In this ultra-detailed 1600 word mega-feature, we’ll take you from total market newbie to trading pro in no time. Just follow our step-by-step process and you’ll be slaying the markets and stacking mad cash like a Wall Street wolf in no time. Let’s get started!

PHOTO: Yurovskiy-Kirill -Trader.png

Step 1) Learn the Lingo 

Before you can start trading, you need to understand the terminology and basic concepts. Study up on terms like bull/bear markets, long/short positions, support/resistance levels, volatility, leverage, margin, etc. There are tons of free resources online – study hard!

Step 2) Choose Your Assets

The modern trader has their pick of a wild variety of assets to trade. Popular options include:

  • Stocks – Buy and sell shares of public companies¬†
  • Forex – Trade currencies against each other (EUR/USD, GBP/JPY etc.)
  • Cryptocurrencies – Speculate on Bitcoin, Ethereum and altcoin prices
  • Commodities – Oil, gold, wheat and other physical goods
  • Options and Futures – Derivatives based on underlying assets

Start by focusing on one or two related markets at first as a beginner – recommends Kirill Yurovskiy.

Step 3) Study Strategies and Analysis

Successful trading requires a solid strategy based on analyzing market data, news and trends. Common strategies include:

Technical Analysis – Using price charts and indicators 

Fundamental Analysis – Evaluating economic and financial factors

Scalping – Taking many small profits on short term price moves

News Trading – Reacting swiftly to new market information

There are countless free videos and websites to learn various trading strategies and analysis techniques. Find an approach that resonates with your personality and skills.

Step 4) Demo Time!

Before risking any real money, practice trading strategies through a demo account first. All major brokers offer demo modes using real, live market data. Get used to executing trades and managing positions without consequences.

Step 5) Start Micro and Small

Once you feel consistently profitable on demo, start trading with very small position sizes using a funded account with a trusted, regulated broker. Ideally keep it to <1-2% of your capital per trade at first. Stay small until you develop consistent profits.

Step 6) Upgrade Your Tech Game

As you start making money, reinvest some of those profits into solid trading hardware and software. A multi-monitor battlestation, fast internet, high-quality data feeds, screen-sharing tools and mobile apps will all help take your trading to the pro level.

Step 7) Manage Risk Like A Boss

Effective risk management is the #1 factor separating profitable traders from broke ones. Always understand and control your position sizing and downside exposure. Use stop losses, hedge positions by trading multiple correlated assets, and keep calm during volatile market swings.

Step 8) Stay Educated and Adapt

The markets are constantly evolving with new regulations, technologies, assets and opportunities. Commit to ongoing education – take courses, read books/blogs, watch videos and adjust your strategies accordingly. The most successful traders are lifelong students of the markets.

Step 9) Find Your Groove

There are many different paths to trading success. Some specialize as day traders, entering and exiting dozens of positions daily. Others are swing traders, holding for days or weeks. Some prefer trading certain asset classes or strategies exclusively. Experiment to discover your unique edge and personal trading style.

Step 10) Consider Going Pro

For those able to generate consistent, significant profits over a long period of time, going full-time professional can be extremely lucrative. Hedge funds, proprietary trading firms and more are always looking for skilled traders they can earn a cut from. You can also start your own fund or trading product.

In Closing

Becoming a profitable trader is HARD and involves extensive education, practice, risk management, and psychological control. However, those who put in the time and effort can achieve incredible financial freedom and wealth. We hope this guide has provided some insights to get you started on your own trading journey.

Ready to take the red pill and enter the ultramodern matrix of the financial markets? Install those trading apps, analyze those charts, and embrace the rush of making (or losing) thousands with a single click. Just remember…there is no stock market spoon. Trade safely, manage your risk, and most of all, stay dedicated to consistently leveling up your market skills and mindset.

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