HOW TO QUICKLY SOLVE 3 PROBLEMS OF A NOVICE TRADER THAT INTERFERE WITH EARNING
A novice trader, like in any other profession, has common mistakes that can be solved with a merged deposit or using the advice of professionals.
Most traders lose money. According to various sources, 70–80% of trade participants remain in the red. Without hesitation, we can list a dozen reasons why a trader’s account can decrease with each transaction. But we will highlight 3 important points. They can be solved relatively quickly and see the result.
1. LACK OF INFORMATION
Gathering information is important for a trading decision. Most beginners work with analytics in one of two ways:
- They ignore the importance of information and open transactions intuitively or based on the primitive analysis. We heard that breaking through the moving average gives a signal – they trade like that until they lose money.
- 1-2 sources are constantly being studied. A proven channel is great. But this is how a trader looks at the market one-sidedly and often misses important details.
- Regularly replenish the list of information sources. But do not try to keep track of everything. Do it gradually.
- You can’t become a professional trader in 3 days, and merging an entire deposit is easy. Do not hurry.
- Learn analytics for the right tools. Learned how to quickly work with one source – move on.
- Every day, open trusted sites with analytics and tips. Assess the situation from different angles.
You will begin to understand whether it is worth entering the market or better to wait. Each open contract will be based on market research, not intuition or primitive analysis.
2. EXCESS ANALYTICS
With the solution to the first problem, the second comes. A beginner begins to study everything that comes to hand. Analytics of traders and companies, technical analysis results, robots forecasts, news.
After a chaotic search for analytics, there will be nothing left in the head but “porridge”. And without the structure and independent analysis, the information found will not help to make a decision.
- Forget about useless sources that copy information from other portals or do not publish anything that works.
- Do not try to explore the entire Internet. It’s impossible. Better find 10-15 channels.
- Do not open short-term deals. At least until you gain experience. The first time to collect information will take a lot of time, which is not when trading for the short term.
- Do not trade all available instruments. To perfectly understand each asset, you need to constantly monitor, study, analyze it. If you are not a robot, keeping track of even 5 instruments will not be easy.
Market analytics takes less time. And in the head, a clear picture of the market is formed, without confusion and gaps. Trading decisions become reasonable, and in open transactions, all risks and opportunities are taken into account. Profit is growing.
3. WORK ALONE
Self-study takes longer because it takes a long time to look for answers to each question. Training books and useful articles – this is important, useful and necessary. But the market is constantly changing. The methods described in the books could work 5 years ago, and today are useless. The support of experienced colleagues here and now brings no fewer benefits.
- Sign up for trading forums, subscribe to communities and channels, join chats.
- Don’t be afraid to ask questions that seem silly. If anyone laughs, do not pay attention. There will always be an experienced and adequate trader who will help the beginner.
Questions arising during training or trading are resolved faster. New acquaintances appear that help in trading. And communication with like-minded people makes work easier and more interesting.
There are other problems that need to be addressed: lack of discipline, work without a strategy, violation of money management. But unlike them, the difficulties described above are solved without any special difficulties.