Trading tips are always helpful, because you can check yourself and the trading whether you do everything right, or if you can still improve in one or the other area!
In this post I’d like to give you 10 powerful trading hacks to make your trading better and give you an overview of whether you are doing everything right when trading cryptocurrencies, forex or CFDs. One good source for beginners is this guide which is a big ebook perfectly tailored for beginners to get the right knowledge and skills right from the start.
Sure you can find on the internet on countless pages trading tips, but this should not be construed as a lesson, but to check yourself again and again, because only so you can improve the trading constantly …
Yesterday, I participated in a online course on trading, where trading tips for more success have come up and I would like to share these tips with you!
Trading tips are always a welcome help to improve your trading, and you should not only keep up with trading tips to improve your trading, but also take part in free webinars.
That would actually be an important trading tip, because you can really learn a lot from webinars … unfortunately I got into the webinar very late and unprepared, so I could not record it anymore, otherwise I would have a video about it today shown.
Here Are The 10 Trading Tips:
- Create a trading plan – in a trading plan, you should note everything important, such as entry, exit, which underlyings were traded, how much was traded, etc.
- Risk management – you should not trade without proper risk management … You should always have enough capital in reserve, use stop loss and run profits – remember: markets can stay irrational longer than you can stay liquid. Bitcoin futures are very risky, make sure you read a lot about it, before you trade. Check this website for more info.
- Take responsibility for your trading … do not blame the broker … you are responsible for all trading decisions
- If you want to earn money with trading then you have to control your losses … if you see that there is a trend, then do not act against it
- Act aggressively with a good opportunity, but do not run after a missed opportunity … do not act fearfully … fear of too little knowledge = acquire knowledge … that means … keep learning about trading, which works very well with webinars
- “Follow the market and succeed comes = follow trend …, He writes very good books on trading!
- Be careful with trading tips, foreign exchange react more strongly to inflation data than to economic data … with trading tips here is a recommendation on trading positions meant by others
- Understanding the market … you can not influence the market, you can only control your behavior … try to control your trading, not the market
- Do not confuse analysis and trading … analyze analysts, trade traders … these are two very different people and positions … Analysts are not always active traders
- Be disciplined in trading … never too sure, never unsure … but always be skeptical