Short spoken advice for new traders: focus on one or two instruments when starting out to build market-read and self-awareness; develop and backtest a few strategies on those instruments before expanding to others. Warns that trying to follow many instruments early prevents effective reading of markets/instruments unless one is a seasoned professional.
I think a new trader shouldn't focus on a lot of different instruments. Starting out, I think you should focus on one or two instruments. You should develop a better read on the market, better read on yourself, develop strategies, back test those few strategies and then open yourself up to looking at new instruments. Now imagine you're looking at five instruments early on. What are you looking for? How are you able to read five different instruments? You can't. It's just you won't be able to unless you're obviously a professional and you know what you're looking for. You have a good read on the market and good read on the instruments. But starting out, keep it simple. Just build your base.
