Ten Secret Trading Tips For Beginners

 

 

 
Switching professions to become a trader is indeed tempting, especially when market volatility is high as it is today. Trading itself is indeed one of the most popular types of trading.
However, of course the risks faced by traders are proportional to the potential of the funds. So, being a day trader must be accompanied by good readiness, one of which is finding out about good trading tips.

If you want to try your luck in the trading arena, don't fight without supplies, okay? What should you prepare? Read on until the end of this article, come on! 

 

 

Trading Preparation Tips For Beginners

 

       1. Keep Updating Your Knowledge

 
           When doing day trading, you must understand the current situation very well. For example, the movement of stocks, commodities, and all investment instruments are strongly influenced by macroeconomic factors.

Buddy Cuan must understand the latest inflation figures, reference interest rates, employment, to regulations that affect market conditions. Often, the market is also influenced by international dynamics such as the announcement of the Fed Rate, the heated relationship between the two countries, world oil prices and so on.

Buddy Cuan, it is obligatory to read the factors that shift asset price movements if you want to try your luck. Come on, start reading diligently!

 

    2. Determine the amount of risk you want to take.

        Buddy Cuan certainly knows that the potential profit is directly proportional to the magnitude of the risk. So, before imagining you will be flooded with money, make sure you are also prepared with the risks.

Day traders should be disciplined on cut loss limits. Some investment sites suggest that traders set a loss tolerance of 1-2% per trade.

If the funds prepared are smaller, it is better to reduce the loss tolerance. In essence, so that your capital is not eroded by cut loss.

But don't worry, you won't necessarily lose. It could be, trading actually makes you big profits! 

 

 

 

 

 

     3. Ready to Sacrifice Time.

         Trading is very time consuming. Because, you have to keep checking the market movements from time to time. Don't let your cash moment be missed, OK?

You may find it difficult to stream Korean dramas when the market is going on. Sometimes, you have to be willing to put off your schedule for lunch with your crush until the weekend. But remember, Friend Cuan, there is no gain without sacrifice!

 

    4. Traders should not be careless.

        This is one of the best trading tips. Namely, you have to be patient and don't rush!

As a novice investor, you are advised to spend the ammunition you have little by little until your skills improve. It is also not recommended that you do a lump sum when trading.

Apart from that, you should also focus on limited assets. It is highly recommended to monitor only one or two assets. The point is, so that you get used to reading the market dynamics of the asset you choose, that way you will learn faster. 

     5. Avoid Fried Broth.

         Well, these trading tips are useful if you are really addicted to stock trading.

Novice players are not advised to buy fried stocks, or issuers with small market capitalization. This is because stocks like these are hard to read and very risky.

It could be that the stock suddenly delisted, or did not move at all for a long time. So, if you haven't done any in-depth research, it's best to just buy safer stocks.

 

     6. Read Market Dynamics Before Opening a Bid.

        Like all things in the world, the market has movement patterns that you can read if you are familiar with them.

In essence, if you watch the market closely, then you will definitely notice that on certain days the market usually opens in red and then turns green. In addition, at certain hours, the market will be more volatile. Other times, some industries tend to break up so you can take advantage of them.

For that, make sure you pay attention to this pattern before opening a bid. Of course, you also have to pay attention to historical data from the issuer that you are going to buy. 

    7. Most Mandatory Trading Tips:
  
        Install Cut Loss Figures with Limit Order
The hajar hak (haka) team does not apply when it is about to cut loss. Don't forget to set a limit order to sell at a certain price.

The advantage, if the price falls too deep, your shares will still be sold at the risk tolerance limit that you set at the beginning. If you don't do this, you may even get tired of not wanting to trade anymore when the price drops wildly.

Remember, novice traders should not be careless!

     8. Be realistic about money.

         Even though the market is bullish, sometimes profit-taking momentum can be missed due to miscalculation or being too greedy. Greed is often detrimental, as well as when trading.

Therefore, you should not be lazy when trading. Set your cash expectations only at realistic numbers. So that you are not too late to take advantage because your expectations are too high.

     9. Keep Calm.

         While you are not alone every day, you are not alone. In fact, even the most reliable traders in the world usually only win 50-60% of their trades. However, they can still earn more than the cut loss.

Sometimes, the market does test your mentality and patience. As long as you can stay calm and logical, you can definitely recover your losses with another bigger win.

Don't be discouraged and keep learning!

    10. Plan Don't Be Careless.

          Trading is a place where strategies and plans compete. Don't be easily provoked by the market, especially influencers.

Make your plan carefully, update the data and information you have. Do not forget to always develop knowledge. You have to be responsive to the market, but make sure you make the right decisions.

Let's Start Running the Strategy by opening a trading account

 

 

 

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