I am an experienced trader as I have been trading from past 5 years. Now it is quite easy for me to trade and I would like to advise you to work on the demo account before starting live trading. It is the first and foremost step for heading towards a prosper career. Thanks!
Many new traders ask this question to me. I always tell them to spend as much time as they can on the demo account. Demo account will suggest how much you know about the market. It is the first step towards the success on the Forex market. Thank you so much!
First thing that i do inorder to start trading to do research for myself in order to learn whats the trading in the forex means, after that I try to get intact with some experieced traders inorder to learn from them about the basic strategy of the trading and then go to hire an experienced broker.
the first think I do everyday is catch up on the news, what's moving the market, and how that affects my outlook for the asset I want to trade. Also, a fresh look at the technical to see what I think may happen that day.
I am trying to be concentrated as much as possible. I like to work in complete peace that means that I even switch my phone off. I keep my focus only on charts and price development, looking for other signals that might pop up and thinking weather some planned trades can be adjusted
I prepare myself with cup of coffee, some needed or little above deposit or such and then start to read broker terms and conditions and privacy policy and any other legal info I could get in order to protect myself from the bad situations when I'll start investing honestly. And I recommend you to do the same
The first thing which I do before starting trading is to look at the chart for at least 30 minutes. It gives me an idea to checkout the behavior of the market. The volatility of the market is an important thing to notice before starting a new trading session. Thanks!
Every trader has a differenttrading tradition that he or she is comfortable with. What I think cuts accross, or rather should cut accross, include: Revieving your previous trade and your trading progress in your journal, monitoring the market for some time before decide where to enter and studying the trading calender
I agree that you need to have a certain attitude before you start trading. This allows you to focus on trading and not to be distracted by extraneous stimuli. What does it take? First of all, you need to get rid of anything that might interfere with your trading on your own. You can turn off your phone, sit in your room, open a window, make yourself a cup of coffee, in general, do everything that will help you work properly. Secondly, I'm previewing the basic guidelines that I set for myself at the beginning of the month. This immediately saves time, and I know exactly which graphics are worth looking at first to find a good entrance point. This is what has long allowed me to get positive results.
I did not even think about how to get ready for trading, I just opened the trading terminal and started. But over time I thought about why sometimes I have profitable days, and sometimes I literally do not have everything going according to plan. And I came to the conclusion that most of the time it is fatigue that impedes me incredibly. I realized that if I came after a long day at work, I shouldn't even start at all. It's better to read something on that day and try to do a long-term analysis. And then it's worth checking out. So overall, I literally have one rule. But I've never spontaneously traded before. I mean, here and now. I always prepare for trading in advance and think over my every step. Gambling is not my thing at all...
It seems to me that the first thing to do before you start trading is to tune in, because if you feel tired or annoyed, you obviously shouldn't start working in the market, because there is a high probability that you will be nervous and will make much more mistakes and inaccuracies than usual. Which is a direct risk to your capital. So you shouldn't do it in such a way that you don't feel disappointed later and you don't have to make a painful and difficult recovery of your capital. In addition, I am sure to look into the economic calendar and analytical sites to see the latest news and determine the most profitable positions for me today. In any case, consistency and consistency will always help you. So I advise you to think about it too!
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