You my be trading forex ,crypto ,stock or anyone you are into this tips will help you ,base on my experience trading is simple when you have the right knowledge , with my little experience in trading I will share this little tips with you

(Source:wetalktrade)

mentor

Why is mentor so important,why do I make it the first tips , a mentor is important because is a experience and trusted adviser , mentor have already go through what you about To go through,

he will give you the short cut in your trading journey ,a membership is so important because no matter how you read or watch YouTube videos it won't still give you the full details in trading, first thing you need to do is to look for a good mentor even if you have to pay for his service

money management

I would have said this should be the first tips but who is going to teach give you the knowledge.. money management knowledge will tell you the amount of money you need to risk in a single trade ,

money management will give you the knowledge on how to cut your cost when trading ,where you are going to place your stop loss and take profit

No matter how and good you are with your trading strategy if you lack the basic of knowledge of money management strategy you won't be successful in your trading journey

Money management is a topic on is own ,I will still make post on it ,the knowledge of money management should be the first we know in trading .it should have been mother of all strategy 😄

Try to cut your emotions or reduce emotions when trading

Majority of traders knows that trading is all about emotions but how can you crop this

• trading should not be your main source of income, trading should be your side hustle, trading already have is own emotions why create another emotions by depending too on trading,free your mind
• Never use your emergency funds to trade , using your emergency funds to trade will increase your emotions while trading

Greediness

Greediness bring overtrading and overtrading can makes you give back your profit,best way to stop this is to have a trading plan

you need to have profit target ,it can either be daily, weekly or monthly it depends on which kind of traders you are

conclusion

Majority of your problems In forex or crypto trading is caused by you ,poor money management or lack of right knowledge, remember trading is not a game of luck you need the rights tools in trading

There is this principle that broker believe (90:90:90) what does this means ,broker believe 90% of traders will loose 90% of their capital within 90days, did you know why because most traders lack the right knowledge, they just want to make money instead of going for the basic knowledge and money will follow

I hope you change your mindset now and go for the knowledge , trading is simple with the right knowledge, remember am talking about trading not investing

Thanks for reading

@ajanaku

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