Remember to always focus on quality rather than quantity!
What does that mean? In most jobs, the more time you work the more you earn. It doesn’t work like that in trading. You don’t have to trade all the time: focus on quality trading.
Even just one quality trade per month is enough to make a great profit.
Here are some practical tips that we give you to improve your trading activity:
Remember that trading is an entrepreneurial activity: you are buying and selling currencies or stocks instead of physical goods. So it’s a real business, but most beginners approach trading with a gambler mentality.
Your trades must always end in one of these ways: big win, small win, small loss.
Never allow a loss to go out of control.
In the market you can’t be always right: learn to accept the loss and cut the loss when it’s still small.
Manage your risk: never expose yourself too much.
The market always offers new trading opportunities: wait patiently.
Don’t close your winning trades too early. Let the money work for you.
Learn how to handle your emotions. As human beings, we have a very emotional relationship with money. Do not panic, it will lead you to act impulsively.
Do you know who is George Soros? He’s one of the most successful investors in the world. Soros says:
“It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong”.
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