May 11, 2021

How to become a successful trader

How to become a successful trader


The development of new technologies applied to investment has democratized the access to the financial markets so that anyone can not only try to obtain profitability from their savings, but also look for professional opportunities far from the traditional ones.

Become trader It is available to everyone, however few are successful in this adventure because it is not, as years ago, a person who is limited to giving orders to buy and sell assets.

Currently, a trader It must be multitasking since it is not enough to know how the market works. Now he must have knowledge of mathematics and, above all, of technology. Among their skills must also include a great analytical capacity to understand graphs and statistical data.

Apart from these capabilities, it is vital that the investor is well informed and up to date on the events marked on the agenda that may affect the market. Not only should you be informed of market news in specialized media but also on the official websites of each actor involved in it. In this line, it is necessary to perform a double analysis: a fundamental one, which is the news that may affect the assets, and another technical one, which refers to the graphics.

The control of emotions is another of the main characteristics of the trader, who must always be aware of the risk he runs when investing his money or that of his clients. Patience is very much related to this virtue. The trader of success does not invest waiting for a return on investment immediately but assumes that it will have losses before achieving its objectives.

For all these reasons, it is advisable to record each movement in order to check the results of your strategies and change them if they are wrong.

In parallel, the path of trader Towards success must be followed by continuous training. There are numerous face-to-face and webinars that brokers provide, with traders professionals. These platforms also provide personalized advice to their customers.

Demo account to practice

Nowadays practically all the brokers of trading online they offer free to traders a Demo account with which you can practice investment strategies without investing real money. To take full advantage of these platforms, it is advisable to try all the possibilities offered and not just think about a specific trading strategy. In order to open an account, either real or demo, the first thing to do is download the MetaTrader Trading platform, the most used currently by professionals.

It is difficult to know when you have to change from a Demo account to a real one. Normally this process should be at least 1 month. You have to accumulate a good experience in the account and test your strategy trading, advise some professionals of the sector.

Trading plan

Once he trader has been informed, trained and practiced with a Demo account, the next step is to make a plan trading. First, this plan must specify how much money we are going to allocate to investment. The second step is to set goals and set a deadline to get each of them.

The next thing is to determine where we are going to direct our investments and in what way. Develop a strategy trading It is a process that takes time. It is not simply trial and error. You have to understand what you do, why you do it and operate as much as you can (in a Demo account).

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