How to be a profitable trader

How to be a Profitable Trader

September 3, 2021
21 days ago

Being a profitable trader is the goal of every person in the investment world. And it's not just about making more money, it's about knowing that losing is part of the process and that with practice and training, you can increase the proportion of wins over losses. And to help you do that, we're going to share some tips** with you.

The beginning of a profitable trader starts with two factors: the psychology to make good decisions, and knowing the structure of the market.

The psychology is fundamental to start being a profitable trader. You have to build your mental approach from scratch, because since we are born, nobody teaches us how the stock market works. And we must learn, study and train continuously to be able to build a solid structure on which we will build our trading operations.

Many traders start trading with one single piece of knowledge:

"If you buy low and sell high, you come out ahead."

And it won't surprise you if we tell you that they end up failing or giving up after a few months. Why does this happen?

Mainly because of lack of knowledge. If you do not know how the market works, you cannot see all the risks that are present in each operation and if you are not prepared, it is as if you were throwing yourself into a pool, which could have too much water, too little or none at all. And then you have to pay the medical bill.

Once you have the necessary knowledge and you are ready to start operating... brake! There is still practice to be done. There are brokers that allow you to trade in DEMO mode, so you can test all your strategies in real time, without risking your hard-earned cash. These accounts are widely used by professional traders to help them learn from new markets.

From Canal Trader we recommend trading with NAGA, which allows you to have a DEMO account with 10.000$ to make all the tests you need. Not only that, Naga offers free classes and workshops for all its members, and all you have to do is open your account here:

Market Structure For a beginner trader, understanding market structure, patterns and behaviours can take years to consolidate. And every trade without a good strategy can turn into a failure. But it's not all negative! There are ways to improve by learning directly from the trades of professional traders and copying them.

This is called Social Trading and Copy Trading, which we explain in more detail here: https://canaltrader.com/blog/que-es-el-social-trading-online

At [NAGA](https://canaltrader.com/plataforma-de-social-trading, the broker we have recommended, you can see the trades that highly profitable traders have made, and choose which of their trades you would like to copy within the limits you set.

This is a way to learn while you trade and improve your profitability.

So it's time to join [NAGA](https://canaltrader.com/plataforma-de-social-trading, learn from their $10,000 DEMO account, learn from their free courses and from the professional traders who trade on the platform: https://canaltrader.com/plataforma-de-social-trading

Canal Trader.

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THE SOCIAL TRADING REVOLUTION

Learn about Social Trading

Social Trading is a new system that gives everyone access to the world's best traders. You can follow top traders and automatically copy their trades. You make money when they make money with no trading expertise required. This is the Social Trading revolution.