AssetShot Forex broker: 3 mistakes beginner traders make
05 / June / 21 Visitors: 17
Most of the novice traders who have come to the AssetShot Forex broker have practically no experience, knowledge and a clear trading strategy that can be used consistently. They are faced with a huge volume of information, from offers of different trading systems to necessary rules of self-discipline and the choice of a broker.
There are also some signal providers promising 100% profits and mountains of gold to those who pay and subscribe to their signals. How can a trader "survive" in the market in such a situation? To do this, you need to understand what mistakes are inherent in most cases, which can be avoided, and which you must risk to gain experience. Thus, the saying "those who are forewarned are truly armed" becomes relevant. AssetShot broker experts made the list of the most common mistakes that will help you not to lose too much money, nerves and energy due to inexperience.
AssetShot broker tips:
1)Lack of a well-defined trading system. There are cases when a newbie started trading, he was lucky and he could quickly spin up a deposit, then he quickly lost everything and began to complain that brokers are scammers and it is impossible to make money in this area. Some at the very beginning of the trading path "managed" to trade using one stochastic, MACD or other classic indicators, but still lost the deposit, due to the lack of a clear action plan, money management and a more stable trading strategy. Therefore, before starting trading on a real account on AssetShot Forex broker, you need to create or find a trading strategy that has shown good results over long periods and which is simple and comfortable for the trader himself. It should have a clear action plan and risk management so that inputs are reasonable and losses are minimal. At the moment, on the Internet, many AssetShot.com Forex traders share their developments, talk about the possibilities of creating their strategy, or about reworking from existing ones. It is extremely important to first trade on a demo account to "fill your hand" and identify weaknesses, thanks to which, later, trading on a real account will be more profitable and psychologically calm.
AssetShot broker tips:
2) Lack of regular analysis of their trades and keeping a trader's diary. An important factor in successful trading is the constant analysis of conducted transactions and keeping records. Such analysis helps to compose a complete picture and understand which entries according to the strategy are the most profitable and which ones should be avoided. In addition, it is possible to determine at what time of day and days of the week the trade is less successful and, possibly, not to trade for too long during this period. The diary helps to see the growth or decline of the deposit, and with profitable trading, it can even cheer up and give more incentive to "conquer" the market further. It is an indispensable tool for professional traders at AssetShot broker, underestimated among beginners.
AssetShot broker tips:
3) Lack of restraint and self-discipline. In most cases, this error results in the loss of the deposit. The fact is that it is difficult for beginners at AssetShot broker to restrain themselves and not get excited - they are trying to "spin up the deposit" to fabulous sizes in the shortest possible time, which is practically impossible. Therefore, upon reaching a certain trading plan, for example - plus 5-10% to the daily deposit on binary options, and approximately + 10-50% to the monthly deposit on Forex, the work should be stopped. These numbers are relative and depend on the aggressiveness of the trading strategy and the professionalism of the trader. Nevertheless, a clear trading plan is essential to maintain discipline and stable capital gains.
AssetShot Forex broker experts hope that the above list of errors will help you to trade more competently. The main thing to remember is that an experienced trader has three factors: a stable and understandable strategy, introspection and a clear trading plan - in combination, these three things will greatly increase your chances of a stable income.
Forex income has virtually no boundaries. The daily trading volume is 4 trillion. dollars (as of 2010). At the same time, by 2020, the trade volume is projected to grow to 10 trillion dollars a day. The largest foreign exchange market in the world allows you to earn almost unlimited amounts
In addition, market conditions, whatever they may be, you can use to your advantage. You need to buy a currency when it moves up, and in any currency pair, there will be just such a leading currency. Great opportunities for unlimited earnings - that's why you need to trade on Forex with AssetShot broker.
The market is a transparent structure, which cannot but be appreciated in the trading environment. Risks are manageable, and orders for transactions are executed in the shortest possible time. The system works efficiently and smoothly, including thanks to the excellent hardware and software for trading procedures.