Articles

15 Key things to know before entering the trading arena.

15 Key Questions to ask when choosing available online trading systems.

-----------------------------------------

15 Key things to know before entering the trading arena.

  • Trading is a business: Unless you see it as a business, and act like it is setting goals, practicing proper money management, setting trading hours, allocating funds for learning and growing, and controlling your account you will not succeed over the long run.

  • 95% of traders will lose : Over time most will lose all or a large portion of theirs and there families money, don't you be one of them.

  • 70% of all people that open an account with a trading brokerage: Will no longer be a client of there's with in the first 3 month, as most people get in to trading thinking they will earn and make their fortunes in a few months and when they start taking losses they ether pack it in or trade till they have no funds.

  • Traders are made not born : Luck will get you so far, then it will run out.

  • To trade well requires you to study and learn the market  : Feed your brain, never stop feeding it, it is cheaper to buy books on trading and learn from others mistakes and to study every aspect on how to read chart , than to lose all your money trading blind.

  • Never trade real with out a proven Trading System : What is the main benefits this online trading system will bring me.

  • Proving your Trading System: Take the time to test and prove the system you want to trade with, at lest trade it profitable for 2 months with the same lot size as you will with a real account, don't open a demo with 50000USD if you only have 500USD to trade with.

  • Trade Signal Providers: If you choose to earn while you learn, there are good and bad providers out there choose one that fits in with you . Article on how to research right provider coming soon.

  • Stop loss: No mater what other tell you never , never trade with out a stop loss (protection from loosing all you money).

  • Trading Capital: Never take money from friends, family, work colleges to trade with, even if they want you too. If you crash and burn like a lot of people do you will make painful situation for your self and for them.

  • Never say : The market must go  down or up, for it doesn't have to do what you say it must. The market is unpredictable, but people are more predictable.

  • Study your self: 98% of your success is based on mastering yourself and your emotions. When you have mastered yourself and have built up self control then 90% is money management.

  • Choosing the right Broker and Platform: is critical to your success, as different trading stiles mach with different brokers, and like banks brokers also go broke, so choose wisely.

  • Have realistic and measurable goals: Work to a time table, you will not get rich over night but if you can say around long enough you will have a good chance.

  • Never let 2 people trade 1 account: Even if is your best friends,  there can't be to head chefs in a kitchen, it is the easiest way to bring bitterness into your life.

  • In time I will go into each of these areas, as they are so important for your success.