Trading Tips for Beginners: It's a business, baby.

Trading isn't a hobby, it's a serious and difficult job that requires a lot of attention. You'll probably become frustrated and even lose money in the beginning.

Tips:

1.) Understand that trading is a business. Some people treat it as gambling, and, of course, some gamblers even make some money gambling. Some traders have similar results - most don't. It takes about 6 months or even longer to understand what you're doing and begin making consistent profits.

2.) You must let your profits run. Good entry points are a bit easier to find than good exit points. Exiting a trade is one of the most difficult parts of any trade - where you can make money or leave it on the table. You must "let your profits run", or seek to gain more, and exit at the right point. Your exits must be based on technical reasons and your trading algorithms. Exit only at a visible turnaround.

3.) When not to trade. This is about your emotions. Do you get agitated easily or are you more calm, cool, and collected? Once your "glass becomes full" - or your tolerance for negativity is full, and the slightest shake happens, all of a sudden your emotions are spilling over into your trades. This will lead to losses, so only trade with a clear head and when you're emotionally at your best.

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Видео Trading Tips for Beginners: It's a business, baby. канала Thomas Kralow