Trading is the best way to start MAKING MONEY! That’s why in this article we’ll give you the best tips if you are starting. These tips have worked for us, and trust us, they will work for you too!
Do trading with money you DON’T NEED!
The first piece of advice that we are going to give you is to trade with money that you don’t need. Trading is a world where you will put a lot at risk. And, if you do it right, it will also be a great benefit for you. But since you are starting out and you don’t know if you will do well, deposit money that you don’t need. But why? Because if you lose that money, it will not affect your day.
This is a very important advice that sometimes people forget. They invest important amounts of money in trading and that is why then they end up losing everything.
Demo accounts are important!
When trading, using a simulator or demo account will allow you to test strategies. And to enter this world without having to risk real money. Many of us believe that the demo account is fine to use for a couple of days and that’s it, we’ve mastered it! But no, the demo account has to be used for a long time. This, until we have a lot of security. Until we have a lot of knowledge so then we can correctly execute operations with real money.
Always check the news when trading!
If you are a beginner, do not trade with the news. The news is nothing more than the excuse that professionals must move the price where they want. So, if there is news then don’t trade. You must always check the market conditions before. If there are news in a certain pair, you must wait 1 hour before and 1 hour after the news. Then you’ll be ready to operate with that pair again.
There is a limit when you trade!
If you have losses when you have reached the maximum daily limit, turn off the computer and leave. Why? Because if not, you will have more losses.
The human mind works like this when we have lost money in trading operations. We want to get it back and we only have that in our heads. This makes us over trade or at other times be afraid when the pressure is right. So, the only way not to lose more money is closing the computer. Wait, you will have more days to generate profits!
A lot of indicators don’t work!
This is our last advice. Not because you have more indicators, you are going to operate better. Many times, we think that if we use a lot of indicators, our operations will be safer, and we will make profits. An indicator can help you decide, but 12 indicators in the end will give you contradictory information. And you will end up stressed.
With this you are not going to trade, you are going to overtrade, therefore, choosing which indicators can work for you or none is also an option!
Conclusion
In short, trade with money, you don’t need and use the demo account. And always remember to not trade the most complex movements and open news once you have reached the loss limit. For you to be a good trader you must study a lot and you must be patient! With the right tools and training, anyone can dominate the markets. We’ll leave you a video at the end of this article so you can know MORE ADVICES that will help you! Remember to share and leave us your comment!