Theis just the start of a whole world of trading. From to , there are many opportunities to learn and improve your trading.
However, there will always be a core group of principles that you need to comprehend. Grasping these three basic forex trading concepts allows you to make smarter decisions while you are trading:
Technical analysis is a method of analysingon a to determine possible future price action by using things like indicators, , divergence, and much more. At tradimo, we teach you how to using many different methods. The strategy you use will depend on your personal trading style.
For example, one trader may prefer to usewhile another may choose to use the .
If you would like to learn more about technical analysis and develop basic skills then you can go to our module:
Looking for a mentor?
Matthias from our Tradimo Premium team will design a learning plan tailored to you that gives you access to new courses and live webinars every month as well as priority private email support.Order our Tradimo Premium Service now
Money management skills
Money management, also called risk management, is a core concept that protects yourfrom losing trades. It should be part of your trading strategy immediately when you begin your trading career.
Money management encompasses concepts like, of trades, and . Understanding these methods can help you maximise your profits and avoid losing your .
For example, most professional traders do not advocate risking any more than 1% to 2% of an account on a single trade. This protects your account from performance downturns and allows you to trade safely with.
If you would like to learn more about money management then you can go to our module:
It is not analysis of the markets alone that allows a forex trader to become successful, it is the psychology of a trader. By overcoming psychological influences, such as fear and greed, a trader has a better chance of being successful.
A trader must stick to the rules of their system and not let psychological influences distract them. The path to becoming a good trader is not necessarily an easy one, however, working through your psychological issues will allow you to trade with a disciplined approach.
If you would like to learn more about the psychology of trading then you can go to our module:
If you would like to learn how you can benefit from the experience and skills of other forex traders, then go to our lesson:
Looking for a Top Broker? Sign up through Tradimo & get extra benefits!