8 Tips That Every Trader Must Know
1. You must have more than one broker
For a successful trading, INFORMATION is the number one recourse(like in any other business). When you trade with several brokers, each broker provides you his point of view and shares his knowledge.Your decision making process improves and you have a higher chance to make a profitable trade.
2. Money Management
This important tip provides a safe and intelligent way to trade.Money management relies on a 10 to 20 percent rule that states:You do NOT invest more than 10 to 20 percent of your initial funding on a trading session.
3. Know your assets
In our world of Globalization,the amount of events are endless and in order to keep pace with the events surrounding our global community we need to transform into a super computer. Choose the assets that you have the most available information about them coming your way and work only on those assets.
4. Signals / bots / robots
In the surroundings of the internet there is alot of different technology available for traders assistance.Although we live in a computerised world,signals that are provided by humans are more capable of a valuable return then automatical computerised signals.
5. Work with profits
Do not forget,you trade in order to get money, take out each week 10% of the Profit from your trading accounts, that way you have a weekly income.Even the best traders can forget to take money out, do not forget.
6. Natural disasters
It's not easy to talk about disasters, usually lifves are lost. Unfortunately,the cruelties of our world provides us opportunities to make better trades, the markets are spiking and the income can be very high.
7. Trading daily
The biggest issue is knowing when to trade, if the market is ranging or "quiet' and there aren’t many financial events that influence the assets of your choice,then no need to trade that day.
8. Know before the others
One of the ways to be among the first that receive the crucial information about your selected asset is to be tuned to main announcements that provided by the major trading sites.And the big news media channels
This article was provided by Experienced Binary Options veteran.
Mr. Guy Young