Not just Technics, but there are more important points to note for better investment.
Having trouble making profits? If your emotions disturbing your investment strategies?
Here are the 6 tips for you, investors!
1. Use stops
Decide in advance which currency pair you wish to trade, along with how much profit or loss you wish to close the trade at.
2. Keep your emotions in check
In trading, emotions are our enemies. In order to make sure that our trading decisions arent affected by our emotions, we need to be disciplined and stick to our trading plans.
3. Manage your money
Ensure that you have enough capital to withstand any drawdowns. Proper money management will ensure you have the staying power to remain in the market.
4. Be realistic
If you aren’t confident trading, start off with a demo account until you familiarise yourself with your trading style and strategy.
5. Be patient
Successful traders need patience to wait for the right time to enter or exit a trade. It takes discipline to establish guidelines about when that trade is.
6. Don’t get greedy
Stay focused on your trading strategy and don’t be tempted to take extra risks without proper consideration.