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:
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:
Use your knowledge and join our challenge
Tradimo has partnered with Tradeo to hold a friendly group investment challenge with a goal to earn EUR 100,000 in joint profit. This challenge is designed for traders with any level of experience, from complete beginners to experienced trader. Join now and boost your educational progress by using knowledge of hundreds of traders in every single trade. The top 100 participants will get valuable prizes, including 5 spots for a trip to Beijing and a trading seminar with our experts. The competition lasts until the 30th of April and new participants can join at any time.