11 Trading Tips For Succes
 
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TREAT YOUR TRADING LIKE A BUSINESS

Like any other income-producing endeavour:
Trading should be viewed as a business.
As a result, you should develop a business
plan that includes the following:

  • UNDERSTAND THE RISKS
  • PICK UP YOUR TOOLS
  • TAKE COURSES
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DON’T LEAVE THINGS
TO CHANCE

There are many trading philosophies and strategies
for making a few quick bucksin the markets. You need
to decide which strategy works best for you and stick
with it once you start day trading

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YOU WILL LOSE MONEY
AT SOME POINT

Everyone loses money in the markets,
at some point. You must be prepared for that fact.

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THE MARKETS WILL MOVE WHENEVER THEY WANT

When it comes to trading, we all have in common: Whether you're
the President of the United States or a day trader on their smartphone
- no one can say for sure what the markets will do next. 

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OPEN A DEMO ACCOUNT
BUT DON’T EXPECT IT TO
FEEL THE SAME

You can set up a demo trading account and trade
stocks,currencies, indices and commodities with
absolutely no financial risk. Just beware that when
you get to trading for real it will feel very different
as you will be using your own money.

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STICK TO YOUR
TRADING STRATEGY

When it appears that a stock isn’t moving in your direction, 
emotions and fear of loss can result in impulse selling. 
Recall the great deal of effort injected into crafting a trading
strategy that has demostrated a history of success. 

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READ THE NEWS-KEEP YOURSELF
UP TO DATE

Regularly consume financial news reports, this will help
you understand what could move the markets on
a daily basis.

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ANALYSE WHERE
YOU WENT WRONG

After the trading day is over, look back on your trades and determine what happened with each of them.

  • Did you follow your strategy properly?
  • Why were the successful trades profitable?
  • Did you press the wrong button on your trading platform?
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MARKETS CHANGE
SO YOU CAN

The market is constantly evolving. Although you shouldn't change
your strategy because you're losing money, it is important that you
continue to adapt your trading style as the market changes. 

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DON’T HOPE FOR THE BEST

Hope is not a sound strategy. If a trade isn't going your way, 
apply your trading philosophy to the losing position, and make 
appropriate call.

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ALWAYS PLACE A
STOP AND LIMIT

A stop-loss order takes you out of a losing position
once it gets to the position once it reaches the
barrier you set. Stops and limits allow you to open
a position and protect it on both sides.

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11 TRADING TIPS
FOR SUCCESS

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