Thinking about trading might be the most obvious thing to do once you start, but it could be the worst thing you can do if you want to make a success of this new career. It's the trades that you think too much about that most often go wrong. The entire idea of trading is that you should trust your charts and leave well alone once you've put a trade on. Anything else could risk that; anything else could cost you money.
The firm's main research and development office is based in Tel Aviv Israel. It originally specialized in Forex and indices spreadbetting and CFDs but has recently expanded in stock trading also.
At the time of writing, eToro has 2.2 out of 5 star on Trust pilot. The comments suggest that the platform offers some impressive features but withdrawing money can be difficult. Having said that, some of the negative reviews appear to be rants rather than constructive criticism. This can be examples of traders losing money through their own recklessness rather than eToro's fault. You should therefore take this reviews with a pinch of salt.
“the platform offers some impressive features but withdrawing money can be difficult.”
76% of retail investor accounts lose money when trading CFDs with this provider.
OANDA is a global financial services company providing advanced currency solutions to both retail and corporate clients all over the world. In this article, we are going to review this broker’s trading options, tools, platforms, spreads, commissions, security measures, and educational resources to help traders make the right choice.
76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing
AvaTrade offers a wide variety of trading solutions (spread trading, CFDs, and social trading), and peace of mind with its comprehensive regulation, covering the EU, Australia, Canada and South Africa. Clients can use a variety of platforms for discretionary and automated trading.
76% of retail investor accounts lose money when trading CFDs with this provider.
Offers multiple asset classes, platforms, and regulated in a variety of regions. Caters for a global audience. Awarded with the Highest Overall Customer Satisfaction Award for 5 years running - Investment Trends CFD Report 2015.
A standalone copy-trading ecosystem, providing equities, foreign exchange, commodities and cryptocurrencies markets. Provides a global selection of brokerages.
Pepperstone is a global regulated broker that provides its clients with the latest technologies for trading multiple assets such as Forex, indices, cryptocurrencies, stocks, ETFs, and commodities. This article provides an overview of its trading platforms, tools, fees, protection measures, and other aspects to help traders make a more informed decision.
Leave Emotions Behind
Controlling your emotions during a trade is paramount. If you are emotionally involved, you can get too excited and overtrade. Or you can get too nervous and pull out of a trade before you get to the profit-making part. Either way, you've made a mistake because you are letting your emotions control the trade rather than the charts that you have meticulously plotted. If you are thinking about trading after you have put on a trade, you run the risk of making a loss. It's not a good idea.
The Market Doesn't Think
The market doesn't have a brain, and one win doesn't mean that lots more are coming. One loss doesn't mean you'll never get back into a winning position. This is why instead of thinking about trading you should be looking at your trading charts. Your brain might be telling you otherwise, your emotions might be pleading with you, but your chart isn't going to lie. That's what you need to focus on. No thinking required once you have worked out how to create your chart in the first place.
There really is no point in trying to guess what the market will do. You might believe that you are thinking cleverly, but you only have a fifty percent chance of getting it right - and those are not great odds. You stand a much better chance of finding the right level of profit if you stick to what your charts tell you, and don't try thinking about trading because thinking about trading will point you in entirely the wrong direction.
One Trade Does Not A Trader Make
Winning on a trade is a good thing, but it doesn't make you an expert trader. Losing on a trade may not be ideal, but it doesn't make you a poor trader. Sometimes these things happen. Thinking about trading is where things go wrong, and simply trading because you know the facts and know the figures is a much more secure and safe option.
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