Notable Mistakes That Newbies Make During Trading

If you’re reading this you’re at the first step of becoming a professional trader.

So, you’re here. There is a clear line about what happens below and above this moment. Because now you’ll have an instruction and what the every professional trader have – knowledge of the other side of success. That sounds horrible but you should be happy if you already miss some money and it’s not a reason to give up, because a couple of skeleton trades or accounts is the usual kit of every successful trader. But you should work with it to transfer you loss into a greater profit.

To become successful trader you should follow this simple steps and your experience (if you have it) because there is a big defer about demo and real money account, the one who trade knows:

First step. Good news it is a bottom, so the only way is up. Your first step is to remaster your vision of market. The way you act before was not so good, like an every first step. The thing you need to know is that every strategy is imperfect, there is no way to get 100/100. Sometimes you need to follow the strategy even if it gave you a 100 losses out of 100 because you know that there will be 901 out of 1000 wins after. It’s pure statistics, that every system or strategy or approach couldn’t give you an instant success, to get it you should follow it in a long run. That point divides the lucky one (which is not long term success factor) from strategy user (attribute of professional trader and a long term success factor).

But what if the strategy is not working in general? For this reason you should test it on history, to find out where this strategy works better or it works in general. The secret of successful strategy is your own vision of market. It means that you need to find instruments that fits you, it can work in general, but not for you. For this reason test every instrument how it fits you and your market vision. History test is one of the most powerful weapon of trader, because it gives you an opportunity to create and combine instruments, use full of armory and test all the hipotesis you have.

1) Build you strategy and follow it

Second step. There are a lot of things to know about the market: the interest rates, oil prices, policy regimes and rules. Do you really need them all? The ones who knows that everything and much more, Nobel Prize-winner economists and professional Wall Street traders nearly ruined global financial system in 1998. Doesn’t mean that everything is useless, but don’t fall into information trap, find something that works for you a couple of “big” news or indicators and work with them. Think about that every day there is so much information that you’ll never read because it impossible. To be successful is to filter what you read.

At first step it was said that you need to pick an every instrument, but you should know that you should filter alot to find some golden instruments. And anyway you’ll spend some time for it, but it doesn’t mean that you shouldn’t trade. Use strategies, signals and analysis which you can find on the platform, if fills a gap between your golden strategy and the moment of start. Also it will be some moment’s when market and signals are not certain, and it’s much more safety to rely on professionals opinion. But there are other advantages of using analytics and signals on the platform, except it’s free for you. It can give you a benchmark to find out where your strategy works better or worst and fix it.

Analytics also gives you some issues of other assets. It means that you can surf different assets such as Currencies, Cryptocurrencies, Stocks, Indices, Metals to build multimarket strategies or to find your wave in different markets to find those moments where strategy works better. And sometimes it much more useful to make +40% on one asset in the moment that your strategy or some signal gives you a high certainty opportunity than to spend trade in low certainty in 80% profit expectation.

2) Filter the information you use to find what fits you more.

Third step. Are you ready for reality? You can predict an every big trend, you knew that bitcoin will rise when it was only a cent per 1 BTC, you knew that Apple stocks will become a that expensive the same is about Google. So what was your move? Are you already did everything that was said. Why? Because like the other people we are afraid of future failure. So we can be a 90% sure that something will happen but didn’t do anything.

3) To be a successful one you have to do, not only thinking.

To sum up those steps lets together find a simple way to get a bit money.

I want you to know that everything is right so I got my account just to check some strategies and make some money.

First step: I have a simple strategy on EUR/USD for that I need just 13 period moving average indicator, which you can find on a platform.

Let’s build a simple strategy. I’ll get a 30 seconds time frame on candlesticks and I plan to buy or sell for 1 minute.

1) Let’s say that i’ll trade upper, everytime when the green candlestick cross the average line from down to up and .

2) Let’s say that i’ll trade lower, everytime when the red candlestick cross the average line from up to down.

In this case you’ll have 4 wins on 2 losses which means that wins twice more than losses.

That strategy is simple, but create your own and don’t forget to use different opportunities that gives you platform, here the only thing matter is your imagination!

Now you have everything you need, use this steps and make money. Good luck!