how to progress in your trading?

The world of trading today interests many individuals who want to improvise as a trader. Still, trading for beginners is a risky business. It is therefore important to know where you are stepping so that this investment can become profitable. Some trading tips for dummies will definitely allow you to progress. By knowing these basics perfectly, you will be in a better position to develop your trading activity.

Treat trading as a hobby first and foremost

This is one of the main mistakes of those who want to learn about trading. It is impossible to make a living from trading, especially when you are just starting out. Indeed, trading is far from being an easy job. Moreover, it is not necessarily synonymous with easy money. To start in trading, you must first understand the rules relating thereto. Otherwise, all the capital invested risks melting away.

To have these solid foundations, it is interesting to follow a trading course for dummies. By following the appropriate training, you will be able to understand that it takes a lot of capital to live on it.

Also, trying to become a professional trader requires a great awareness of the risks. You have to adopt a flawless psychology, have a good method, rigor, but above all experience. It is also important to keep your own trade: even if it is possible to earn 500 euros in half an hour, there is no guarantee that these gains will be repeated. By studying its trading results over the year, it becomes much easier to evaluate its performance and establish an average. And if that average is reasonable, then it’s easier to set bolder goals.

Trading tip for dummies: Staying on a demo account is important at first

Nowadays, trading is an activity accessible to everyone: many online brokers offer offers as interesting as each other. You can consult opinions about brokers on the internet. However, having a good foundation and being accompanied by a good broker does not turn you into a professional trader.

Therefore, sticking to a demo account is good beginner trading advice. The vast majority of brokers offer this type of account, which is essential for any new trader: it is excellent for better understanding how the markets work.

Choosing this type of account is above all a safer and stress-free way of learning: the consequences of a real account in terms of financial stakes and tension can have considerable impacts on privacy.

Before embarking on the risk, it is therefore preferable to first develop your critical spirit. In other words, it would be a mistake to focus solely on the performance enabled by an account; focus on the learning curve instead!

Pay more attention to events and less to results

When you start trading, the main thing is not to analyze a winning or losing trade. The most important thing is to know what it takes to get better trading results. For this, the use of trading platforms such as MetaTrader 4 or MetaTrader 5 makes this analysis simpler. The use of such a tool is practical insofar as it is necessary to carry out a breakdown of the trade and this, by stage of position taking until the closing of this one. Choosing to proceed in this way also makes it possible to answer certain points such as:

– The justification of the position taken;
– The quality of the entry point;
– The placement of the stop loss;
– The exit of the trade;
– Etc.

The idea is therefore to visualize the events step by step in order to identify the shortcomings of the trading carried out. However, this mental simulation goes beyond a simple trading technique for beginners. In order to reach this level, you must above all perfectly master the basics of online stock market activities. One more reason, therefore, to follow a trading course to better understand the discipline.

Finally, the support of a good broker is also essential to gain experience. To do this, do not hesitate to make online comparisons to make the best choice. This will be of great help to better monitor your trading results.

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