General Trading Tips for all markets

[mattybratley]

Hi does anybody have any general trading tips for all markets, specifically forex and/or equity markets.

 

[mlawson71]

Always have a trading plan in mind before you start trading, don't open positions on a whim.

 

[fukzoid]

I second that, and also please for the love of the forex gods, keep a journal, track your trades, without past data, you are driving the car blind. Trust me.

 

[Daantje Pieters]

To make a profit in the Forex market, I have to trade risk-free. If you can do risk-free trading, you can make a lot of profit and if you can't trade emotionally, the amount of loss will be more. It is possible to gain a lot of knowledge by trading on the Eurotrader platform.

 

[Sherverty]

Markets should be respected! They are like the plains of Africa. Meat runs onto the plains every day, fearlessly! To be shredded by professionals. They are hiding and waiting for the right moment to pounce on their high probability prey. At the first sign of danger, they flee.

It's a survival game. When you gain enough experience, you will see the light. However, you will have some scars.

 

[Caroline Forbes]

The most common tips given by many traders for beginners entering into forex are to trade with lower capital and avoid trading with greed.

 

[Zxc45fg76]

"Good things come to those who wait". One can profit once they hold their trade....

 

[Schmooze]

The best tips I can share are:

· Build a trading plan and stick to it.

· Control your emotions when trading.

· Avoid high leverage.

· Open trades only if your analysis gives you a green signal.

· Start small so that you don’t regret big things.

The more you trade, the more you learn. So, don’t be afraid of trading in the live market. Just take small steps when not sure.

 

[Supercilious]

If you could somehow learn to control your emotions, it can help you a lot while trading. Emotions like greed and anger affect your decision making ability which may result in losing your money. Most of the new traders and some experienced traders as well struggle to control their emotions.

 

[Allegator]

Never follow anyone.
If you decide to take responsibility for your career, you can do anything you want. But by following someone, you won’t be doing anything more than limiting your options. Explore the market in the beginning as much as you can. Keep your risks small so that they are manageable and you can get an idea of as many things as are necessary for your forex trading career.

 

[Svengali]

Create your own trading roadmap. For this, you might need to learn and obtain some experience. You may even have to make some losses. But that’s a very low price you will pay for long-term profits.

 

[Kalology]

1. Learn from your trades and always backtest.
2. Have a trading journey to keep track of your records.
3. Do not risk more than 5% of your trading capital
4. Always have a trading plan and stick to it.
5. Learn about trading psychology and control your fear, greed, and anxiety.
6. Develop a strong risk and money management strategy.

 

[Zygosis]

Never enter the market without a trading plan. Even before you enter the market, you must know when you will exit the market.

 

[ShihTzu]

I would add a tip for technical analysis. If you are able to detect a pattern on a forex chart, you can double check it in a different time frame for confirmation. You may also be able to determine the direction of the trend after pattern easily.

 

[monssur]

The risk/benefit ratio is one of the most important things to keep in mind

 

[pippin]

I would add a tip for technical analysis. If you are able to detect a pattern on a forex chart, you can double check it in a different time frame for confirmation. You may also be able to determine the direction of the trend after pattern easily.

Some patterns work only on certain timeframes for example short-term price breakouts which depend on some news events. Over time their effect dissipates.

 

[LuckyMac]

Always have a trading plan in mind before you start trading, don't open positions on a whim.

Completely agree, you should have a plan then stick to it. The OP said for 'all' markets thats not a correct way of thinking. You're strategy or any strategy wont work in all so you have to know when to trade and when to stay out.

 

[Serimeter]

Whether it’s about trading forex or any other financial market, always have a trading plan. Not only lay down the rules for identifying the potential trade setups and entry points but also have the idea about the points at which you’ll exit for profit or even a loss. Most oftenly profits entice traders to hold position in the hope for more gains and losses compel a trader to hold the position until the market turns in their favour so that the losses can be recovered. Both of which is not a sensible decision.

 

[Leonardo_2]

Observe the risks when trading in the forex market. Since the leverage is high, it can easily lead to the loss of a lot of money or the entire deposit in a short period of time. It is better that the way will often trigger stops than to sit out the position in a deep drawdown.

 

[sarahgoutvaks]

Trade only the amount that you can afford to lose.