How could anyone make money trading currency? What do would qualify me to trade? Is this a job for an elitist few? Hey, back up a moment. If you could identify you granny from your neighbor, you are good enough to trade. You don't have to be bright, you only need to the smart. That's all you need to identify your chart patterns
i. Educate yourself
There is no better way to prepare you into beating the barriers than educating itself. Once you have familiarized yourself with the ins and outs of day trading, then you can be confident that you will win, if not half the battle – all of it. You need to understand the day trading market. You need to comprehend why a trend goes up or down, why charts seem to vary from one tick of the clock to the other.
ii. Plan ahead
Since most people view day trading close to gambling, it is suggested that you come up with a trading plan to be fully equipped with your battle. A trading plan will be your guide to help you progress from the starting point to the end point of your day trading goals. It will serve as your map to demonstrate which paths are good to walk into and which paths to avoid. By doing so, you will avoid getting too much losses.
iii. Manage monetary resources
Most day traders fail due to their inability to properly manage their finances. It is a common practice for day traders to allocate a specific amount of money and then have a loan on the entire margin. By doing so, some day traders lose a good sum of money instead of gaining them. It is not all about giving out money; it is about winning by thinking. If you observe that the market fall short of meeting your chances of gaining profit, then it is time to think fast of strategies to prevent losses.
𝗠𝗮𝗸𝗲 𝟲- 𝗳𝗶𝗴𝘂𝗿𝗲𝘀 𝗶𝗻 𝗷𝘂𝘀𝘁 𝟳 𝗱𝗮𝘆𝘀 :-- tinyurl dot com/mr26z5p7 (COPY & PASTE IN A NEW TAB AND REMOVE 'dot' REPLACE WITH '.')
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