Powerful Tips For Beginner Traders, Guaranteed Profit

Powerful Tips For Beginner Traders, Guaranteed Profit. Beginner traders often make mistakes due to several factors, one of which is the lack of experience and knowledge in the world of trading

For beginners, in fact, there is no instant way to fix these mistakes, from frequent loss to profit. This error change, can be done as long as the prospective trader or beginner always learns and continues to learn to correct every mistake, then it is possible and easier to turn the situation around until it wins.

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Here are some Powerful Tips For Beginner Traders, Guaranteed Profits

Powerful Tips For Beginner Traders, Guaranteed Profit

1. Don't be lulled into getting rich quick

Generally, novice traders usually consider trading to be an easy means to get rich or get rich quick.

It is impossible to get rich quick without understanding and taking into account the risks of entering the market with large trading lot sizes

In fact, this method actually causes big losses in the long term because you never predict price movements correctly even if you understand technical and fundamental analysis.

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2. Random trading decisions.

You should have a simple entry and exit strategy, and not enter the market based on estimates.

Entry without basic calculations is like playing gambling.

Powerful Tips For Beginner Traders, Guaranteed Profit

3. Beware of high leverage.

Be careful of high Leverage, this is indeed the main attraction in the world of trading.

Brokers usually compete to offer the highest possible leverage. However you have to be careful and not use leverage by bidding too high.

This high leverage can allow you to open many positions at the same time a small minimum margin, but if the price movement is not as expected then you will lose a lot of money to withstand the loss.

4. Use stop losses.

Usually traders dare to hold a loss position for a long time in the hope that the price reverses direction.

But in fact, this kind of trading tends to destroy your account because it never limits the risk.

No matter how sophisticated the trading strategy you use, you must still determine the stop loss as anticipation or early protection.

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5. Keep Emotions When Trading.

Emotions when trading can encourage not having a logical mindset until it finally ends in loss, this might destroy the trading account. Do not force the will to trade.

6. Consistent and disciplined set of trading strategies.

Test your strategy first and don't switch strategies too quickly. If you have found the right one, be consistent with the strategy you have chosen and be disciplined in using it.

7. You must apply money management.

Money management is not only risk per trade (stop loss) but also risk/reward ratio which in the long run will determine the success of your trading.

8. Follow market developments.

Knowing the market developments globally will help in choosing the currency pair to trade. To maximize trading results, you should choose a currency pair between a currency that is strong versus a currency that is weak.

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9. Monitor trading positions

Even if you use a pending order complete with stop and exit levels, you should still monitor the trading position you expect. As a trader, you should often monitor market price movements.

10. Make a trading plan

Avoid making plans by targeting the minimum net profit you want to earn, but plan how you will deal with the market. A trading plan that is not clear makes you always hesitate in making decisions. Your trading plan should at a minimum include:

Trading frequency in a week, 2 weeks or a month (could also be per day if you are a day trader).

Great time to trade (especially if you are a part timer trader).

Strategies used for certain market conditions. Example: for a trending market, strategy A will be used, while for sideways conditions, strategy B will be used, or both will use the same strategy with different parameters.

Signals to buy and sell are clear.

How to determine stop loss and take profit (limit).

The criteria for the amount of risk/reward ratio for each trade.

In short, to achieve success in the long term, you should focus on the trading process, not on the amount of profit you will get.

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