Hello! Welcome to the world of spot market. It is an exciting place. Knowledge is Power! This is also true for trading. So reading as much as you can on spot market trading and existing strategies and techniques is ideal before you plunge yourself into it. The internet is a great source, just do a quick web search and a ton of stuff will pop up. I am currently in the process of putting some materials together so check out FredSmilek.com’s …
Introduction to spot market and other resources.
Also I would recommend to practice using demo accounts first and not just one, try a few at the same time. This way you are not only testing your strategies and practicing your trading technique and adjusting them, you’re also testing out the different account platforms available. That way you will choose what suits your style better when you make the transition to a live account.
You need to be aware that there are going to be times when you lose even as a beginner or an expert trader and there will be times when you win. You can’t expect to win all the time. Trading does not exist in a perfect environment so you need to be aware of this. But if you test out your techniques and adjust them while using a demo account you should really be on the way to profiting when you switch to live account.
Here are some quick tips for trading:
· Go into a trade with a plan and stick to it
· Try not to let subjectivity influence your decisions
· Don’t add more money to losing trades.
· Let your profiting trades run
· Do not go against the trend
· Exercise Money Management and Risk Management
Good Luck!
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