TRADING TIPS for BEGINNERS | TRADING TIPS
If you are just starting out in the world of trading, pay attention to these 6 tips from Jordi Martí. From trading with money you don't need to get by, to knowing when it's the best time to close your computer and stop trading 👉 GO WITH THE MARKET!
I would like to give you some tips that have worked for me, especially when I started in this world. If you are starting in the world of trading, the first advice I give you is, above all, that you trade with money that you do not need. It seems obvious, but I assure you it is not. Trading is risk, ...Read more
I would like to give you some tips that have worked for me, especially when I started in this world. If you are starting in the world of trading, the first advice I give you is, above all, that you trade with money that you do not need. It seems obvious, but I assure you it is not. Trading is risk, if you do it well it is also profit, but if you do it wrong, you can lose the account. Therefore, how you are starting and you do not know if you are going to do it well, deposit money in your trading account that you do not need, so that if you lose that money it will not affect your day to day.
Second tip, the simulator. The simulator will allow you to test strategies, enter this world without risking money, use the simulator. When we all start we believe that the simulator is good for a few days and that's it, we have mastered it. No, the simulator must be used for a long time until we are sure until we are aware and correctly execute the operations with virtual money. That is the moment when we can consider and go to real, never before. The US opening is very complicated to operate. I usually do not trade it, I wait 10 minutes, a quarter of an hour, 20 minutes, 40 minutes, until the movement of the indices stabilizes. That US opening, at three thirty or two thirty, if they have not made the change from daylight saving time, has a lot of volatility. The big investors are positioning themselves and the movements are so fast and powerful that they make you jump the stops many times. I advise you not to try to operate that first half hour.
If you are a beginner, do not trade news. The news is nothing more than the excuse that professionals have to move the price where they want. That is, if a news item about oil inventories comes out that would theoretically make the price of oil go up, don't get long, because maybe they are waiting for this news to lower the price. Later they will tell you the excuse is that it is good that the news was not entirely real because well the inventories that I do not know what I do not know how many. The point is that the price has dropped. Therefore, the news is just an excuse to move the price. If there is news, do not trade.
The fifth advice that I give you is very complicated. And is that if you have losses when you have reached the maximum daily limit turn off the computer and leave. Because if not, what you are going to get is to have more losses. The human mind works like this; When we have lost money in trading operations, we want to get it back. We only have that in mind. And that makes us over-operate or sometimes, be afraid when the operation is correct. The only way not to lose more money is to shut down the computer. Maybe once it will work for you, twice as well, but the third time, you will start losing more money for sure. Close the computer.
Sixth and last tip, not because you have more indicators you will operate better. Many times when we start in this world, we start to put, that if MACD, that if RSI, that if Bollinger Bands, that if a thousand indicators. And every month we find a new indicator on the internet, and this is the final one, this one is going to work. It's useless. The indicator is not going to make you trade better. In fact, I work without indicators, I only use volume. The indicator can help you make some decisions, but 1,2 indicators, not 7, not 10 indicators. In the end they will give you contradictory information and you will not operate, or you will over-operate. Therefore, choose which indicators can work for you or none, it is an option, and only trade with those.
In short, trade with money you don't need, use the simulator, don't trade the most complex movements; openings, news, once you have reached the stop loss limit, because if you don't you will lose more. And finally, not because you have more indicators you will operate better.
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