General Trading Tips for all markets

[VargaDimwit]

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.

Technical analysis is really important for trading. But traders should also consider the fundamentals of trading in order to be sure about the trades.

 

[AayushiShah]

Below are few trading tips:

1: Always have a trading strategy in place.
2: Approach trading as a business
3: Make use of technology
4: Safeguard your trading capital
5: Research the Markets
7: Develop a Trading Methodology
6: Risk Only What You Can Afford
8: Always have a stop loss in place.
9: Know When to Stop Trading
10: Maintain a Balanced Approach to Trading

 

[mlawson71]

That is pretty excellent and very concrete advice. I would add - 11. Always have a trading plan.

 

[antwanmcdonough]

Some trading tips for beginners-

1) Keep a trading journal and regularly update it
2) Learn from your trades.
3) Backtest your trading strategies
4) Focus on developing a strong trading psychology and a strong risk management
5) Do not use shortcuts

 

[mlawson71]

I learned quite a while ago how important a trading journal was. It helped me keep track of both my successes and my mistakes.

 

[Ricter]

Some trading tips for beginners-

1) Keep a trading journal and regularly update it
2) Learn from your trades.
3) Backtest your trading strategies
4) Focus on developing a strong trading psychology and a strong risk management
5) Do not use shortcuts

These are really good points and maintaining trading journals is the best way of learning from our past trading mistakes. These trading journals not only protect us from repeating our past mistakes but also act as our guide for future trades.

 

[mlawson71]

I agree. If you're like and have a memory like a sieve you'd forget many past mistakes. A journal helps keep track of that.

 

[Patrizia Bruno]

Always protect your trading capital! Traders do not pay attention to minimise their risk, but focus more on making profits. However you can’t make profit if you can’t protect your trading capital. Thus, always trade with a risk management strategy.

 

[Xie Yuanjun]

While trading, never let other traders influence your decision-making. Believe in yourself. You might make losses but you will know what went wrong. If you see it from another perspective, it won’t look like a loss anymore.

 

[skrimon]

Here are some general trading tips for all markets
- CHOOSE LIQUID STOCKS.
- FREEZE THE ENTRY AND EXIT PRICE.
- ALWAYS SET A STOP-LOSS LEVEL.
- BOOK PROFIT WHEN THE TARGET IS REACHED.
- ALWAYS CLOSE ALL YOUR OPEN POSITIONS.
- DO NOT CHALLENGE THE MARKET.
- RESEARCH YOUR TARGET COMPANIES THOROUGHLY.
- TIMING IS CRUCIAL.

 

[oakum]

Study the markets and always use a trading plan. Also, make maximum use of the technology and trading tools available assuming that all your competitors are using them. Along with chasing profits, make sure that you are taking important steps to protect your trading capital.

 

[Yin Chen]

It’s obvious that you started to trade forex because you wanted to earn profits. But that shouldn’t be your ultimate goal. You should also find ways to protect your capital. Save enough money to fund your trading account by not taking unnecessary risks.

 

[TerenceDavi]

It is important to understand the nature of the market that you wish to trade before even starting to trade.

 

[Jamie999]

In my opninkon always test a strategy on a bot. Hire a guy to do it

 

[Leave Temple]

Candlestick patterns every trader should know.

 

[Leave Temple]

Best way to use atr.

 

[Leave Temple]

Just thought i would leave this here.

 

[Leave Temple]

All you need to know about the hammer.

 

[Leave Temple]

All you need to know about the dark cloud.

 

[Leave Temple]

Chart patterns you need to know.