What a new trader should know about trading? KeyTrending.com Forex experts give advice for successful trading

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In this article, KeyTrending Forex experts will introduce you to the basic concepts of investing/trading in the financial markets.

But what knowledge should a trader KeyTrending.com have before starting trading and how to understand his readiness to trade?

About the profession of a trader

You can make money in the financial markets in a variety of ways:

• Self-trading;
• Automated trading;
• Affiliate programs from brokerage companies like KeyTrending broker ;
• Investment;
• Freelance.

All traders are engaged in speculative operations and make money on the difference between buying and selling trading assets. A wide variety of tools are used in trading:

• Automated programs, robots, experts;
• Technical indicators;
• Graphic tools;
• Trading assets;
• Signals for opening positions;
• Copying deals and other options.
• Particular attention in independent work should be paid to basic training.

KeyTrending forex broker: Trader training

To trade profitably and make money in the financial markets, you need to undergo preliminary training. Preparatory courses include compulsory "disciplines":

Terminology. Future traders learn the concepts necessary to make money. For example, what is margin, protective order, leverage, position hedging, pip, margin Call, flat, impulse.

Financial market patterns. Every beginner should learn how the exchanges work, and how trading takes place.

Fundamentals of money management. This section allows you to minimize financial risks and losses, correctly calculate lot volumes, future profit, and correctly distribute trading capital.

The psychology of trading allows you to understand what is happening on the market, in what state it is at the moment and to assume what may happen in the future, the goals of large players and the general mood of the market.

Forecasting market quotes. This parameter is one of the most basic in trading. It will depend on an accurate and correct forecast whether a person will be able to make money on the stock exchange or whether he will receive losses.

Self-discipline and psycho-emotional state of a trader. Every beginner must learn to control his emotions and accurately follow the checklist of the chosen trading strategy, which will avoid many mistakes.

Trading tools. In this section, a beginner with KeyTrending forex broker learns what and when technical indicators, trading signals, automated programs, graphical constructions are used in trading on the exchange. He will need not only to learn to understand on the basis of what algorithms they work, but also to use them correctly in trading.

Trading assets. Sooner or later, beginners are faced with a choice of trading instruments with which they will earn profits. All trading assets have differences and features that must be taken into account when choosing them.

Also, beginners learn trading techniques.

Trading strategies

The financial market is constantly in motion, but most of the time, and this is about 70%, it is defined in the consolidation zone. In a calm state, when there are no strong impulses and trends in the market, it is quite easy to predict quotes. The most difficult thing in trading with KeyTrending broker is to understand when the market will exit the flat and the movement will begin. It is during impulses that traders get the maximum profit, so it is very important to understand the state of the market and use an appropriate trading strategy.

Types of trading methods:

• For a calm market - flat strategies.
• For strong movements - trend techniques.
• It is also necessary to consider the time range of the transaction. You can trade with KeyTrending broker on different time frames, for example, lower time frames, such as M1, M5, M15, are suitable for short-term transactions and scalping. For medium-term positions - H1, H4. For long-term orders - D1, weekly and monthly charts.

In addition, it is necessary to consider financial risks and Money Management:

• Classic trading option - 2%;
• Moderately aggressive - 5% to 10%;
• Aggressive trading - up to 50%, in some trading strategies it can be higher.

The KeyTrending Forex experts remind: professionals do not advise beginners to use aggressive strategies, as they overload the deposit funds. Also, if they are incorrectly calculated and predicted the movement of market quotes, they can lead to both large losses and a margin call, that is, to a complete loss of the deposit.

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Damian

Author

I have been trading Forex for more than 5 years, mostly with manual and automatic trading. I set up advisors for round-the-clock automated trading. I'm sure I can help to establish your trading skills....