Online Trading

Trading is not an easy job it includes a high risk perceiving skills and patience. As we all know trading is a dynamic thing where if the market is at a position now and it fluctuate high or low in the mistake. While trading in this market you need to be a strategic and quick decision maker. 

Trading includes long term planning. You should not be afraid of the fluctuations on the screen. One should be afraid of losses but if we follow safety measures they can be avoided.

Here 70trades share some of the strategies which can help you to avoid losses. 

1. Predetermine your profit margins:-

Determine your profit right from the beginning day of trading. As we all know trading is a volatile market. We need to determine our profit margins at the beginning of trading. 

In this market you need to be extra predictive and careful about the market conditions. Keep your mind alert and ready to handle every circumstance.

2. Analyse your mistakes:-

It Very important for you to check your trading strategies. Maybe you are the best trader but it is an uncertain market you are never sure of what would happen next minute. It is advised to make trials with demo accounts. You can identify your mistake in your strategies via these demo accounts. You should always be prepared for unexpected incidents.

3. Always plan an exit route:-

Trading in this market is  inevitable and you can’t predict losses and this may happen repeatedly. So, it is always advised to have an exit plan when the market is at its deadliest point. 

It is very important to place stops to recover from drastics losses. While some say it is even necessary so bear to learn losses in trading.

4. Create your own path:-

Trading is a completely individual market. You can’t replicate the ideas of others here you have to draw your own plans. Don’t ever try to go over with a crowd. List down your rules and restrictions and always try to stick to it. Sticking to your sets of rules would help you to be confident and disciplined. It would help you in determining when to start and stop your trading in the market.

5. Control over your emotions:-

It is very expected  that when you are running into losses your mind stops working and you become unreactive to the condition so it is very important for you to control your emotions and stay calm to the market and react sincerely to it. Once you understand the phenomena of loss and profit you win over your emotion and lead into the market. We must celebrate our profits but we should nit forget that we are just one step far to loss.

6. Analysis of market is must:-

It is very important for you to analyse the market trends and what is the current need of the market to know the demands and respectively react to it. 

For example, if it is the rainy season the demand for umbrellas would increase and gradually create its own space in the market. While in winter the price of sweaters would increase.

It depicts that we should understand the demand of the current time and react accordingly.

7. Setup a capital limit:-

We should never involve our personal funds in trade. Never keep in your mind that you would get back your money after a particular trade. As previously said it is an unpredicted market and you should never think that you make profit out of a trade.

Never mix up your personal funds with the trading funds. One should prepare their mind to lose the whole money invested.

8. Always try to be a student in trade:-

Trading is new every day you can never be master of it. So it is very necessary for you to be a student in this market. Try to read as much as possible regarding the market.

Read all investment and business magazines to gain knowledge about recent market trends. 

You can’t ever be 100% assured of the market and so try to keep new things and constantly work on your marketing strategies. Try to read the experience of pro and expert traders. Prepare yourself with proper trading psychology.

Little of your efforts in analysis and research would pay you with great profits and help you improve your trading skills.

9. Use technology to its maximum extent:-

It is very important for us to have a keen eye on the market which is possible after you have good knowledge of technology as the trade is performed by apps or websites. You should be aware of how to use it. Any negligence may lead to high risk.

10. Be confident of what you do:-

While trading it is very important for you to be confident as when you shiver in your decision you make mistakes which may lead you to major losses. 

You should be very responsive to the situation and make the right decision which can make you large profits and take your career to the next level. 70trades would help in setting your demo accounts and and help in improving your skills. There are lessons which can guide you to your profits.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.