How to trade successfully?
So that trading succeeds – tips for success
Digitization has also dragged down the barricades to the stock exchange. With trading, it is possible for everyone to take part in the speculative business at home in front of their computer. You can even do this on the go with your smartphone. As a result, many traders are passionate about it. Sometimes the leap into the unknown is successful, in most cases a lot of learning money is learned before success finally sets in.
As you make your bed, so you lie. With the right preparation, the jump into the stock exchange shark tank works better. We provide tips for trading success. In addition, more and more service providers offer professional training like this Deltavalue.de trading training which we would like to recommend at this point.
Safely through the starting phase
In trading, there is the famous 90's rule, according to which 90% of all beginners have lost 90% of their wealth after 90 days. It is true that at the beginning of the long journey there are still many things that are difficult, which of course must have a negative impact on success on the stock exchange. Nevertheless, there are some methods to limit the expected failure. First of all, it is very important to use a demo account in order to combine theory with practice.
In this way, real money can only be traded when one feels ready for the "serious side of life". The preparation should be as thorough as possible and the start-up capital should be kept to a minimum. It is better to speculate with little capital at the beginning and gradually increase the stakes with increasing security and strength.
Study the news!
Business news has a strong influence on stock market events. Professional traders should make it a habit to pay close attention to economic activity and regularly study the economic calendar and financial news. Not only does this give them better insight into the business of the players involved, but the business news also has a direct impact on the way companies do business and traders' decisions.
The reaction of stockbrokers to spectacular successes or failures of their company follows certain laws that can only be recognized if you stay up to date in the world of finance.
The choice of broker
The broker has a noticeable impact on success on the stock exchange. This affects the quality of advice and customer service as well as availability helpful tools, for example to better identify trends. Last but not least, the costs that every broker charges are also depressing the business. They are the green zero in trading and mark the house edge.
Of course, the cheapest trader is not always the best solution. As everywhere in the free market economy, it comes down to the right price-performance ratio.
Speaking of tools: The most used platform for traders is Metatrader for the perfect overview when trading.
Trading by personality
Almost all experts suggest traders their own strategy. This should be adapted to the personality and make it easier to identify with your actions when trading. It is also easier to get into the flow with a trading strategy that is tailored to your character. For example, if you tend to be impatient and favor quick decisions, you should rather go to the daytrading or even resort to scalping. Those who prefer to let things mature are better off with long duration trading.
Protection against ruin: risk management
Risk management ensures that trading never becomes life-threatening. In order for this to succeed, the expenses per day should be adapted to your own financial possibilities. The betting limit is now based on your own budget and jeopardizes its own liquidity not even in the case of a maximally unfavorable course.
Another orientation is the one percent rule that no trade invests more than one percent of its capital. Emotions are left out and if you end the day with a loss, you accept that and don't keep playing until you end up losing everything out of frustration.