Trading seems untouched by many people. I started trading back in 2015. The main purpose of starting it is just to test new way of making money because I am too familiar with the traditional brick and mortar business since I was born. After I had traded for a while with some losses and difficulties, I realized that though it was modern to trade, it was still as hard as the usual businesses to make money. So here I share the top three mistakes when I started, wishing I should have known them earlier.
First, many don’t understand how the market actually works before they start. They don’t understand the risk in the markets. The markets are based on free market model whose prices change according to the global supply and demand. The markets are 70–90% dominated by the big financial institutions around the world such as central banks, intermediary banks, investment funds, hedge funds, etc. The price movement at any single moment is the result of buying and selling volumes matched from traders around the world. Trading is purely speculative on the mass market sentiments.
Another mistake is they don’t take time to learn how to trade properly. Many think it easy to make return. Some decided to invest huge amount of money since the start without taking time to learn. They should seek the real experts to coach them on how to trade in a professional manner. Success in trading depends on the understanding of professional technical analysis such as price action, the right trading methodology and risk management techniques. All these can be learnt only from a genuine successful trader.
Finally, traders don’t manage their emotions in trading. Emotions are the enemies of your trading. If you ask many losers in trading, they will tell you that their failures are due to their inability to manage their harmful emotions. Trading needs you to follow the rules and trading plan strictly. No emotions should be used to attach to your trading. As a trader, you need to be patient until you reach the goals. Greed and fear are the greatest emotions which drive many traders lose their shirt. Again, let emotions run but don’t let them affect your trading.
In short, these three mistakes were the obstacles I experienced which made me unsuccessful back then. However, now I reached a level of a so-called professional trader, able to accept all the good and bad aspects of trading and finally making money consistently. I am sure you can do it as I can too. Also visit my Auto Binary Signals Review with this link: https://autobinarysignalsrealreview.com/abs-review/, the binary options signals software I have been using for years to trade binary options successfully.