Important to Know For Beginner Traders

When deciding to trade futures products, it means that the trader is one step closer to financial freedom. But traders should not forget that investment profits do not come easily, and sometimes have to go through a process that is not easy. In an analogy, the trading principle is the same as the trading principle: you must make a profit greater than the capital you invest.

Unfortunately, as a novice trader, many investors are still confused about what to do when they want to start trading in the market. It could be because you don't know what to do or you are too afraid to lose money.

Get rid of the network of traders, instill confidence and follow these tips:

1. Determine The Product That The Merchant Will Trade

Although the trading procedures are the same, each product has its own characteristics. the choice of products that best suit the characteristics of the merchant. If the trader is new and wants to play 'safe', then choose a product whose price movement or volatility is relatively lower. Major currency pairs such as EUR/USD have smaller price swings than gold (XAU) in normal market conditions. However, traders should also remember that the pattern is not always like that because the volatility of each product depends on the fundamental news that affects it.

2. Learn The Trading Platform of Traders

After joining a brokerage company, you are provided with platform application facilities that are used for buying and selling online, for example Meta Trader. Don't just use it in the buy and sell column. Make sure you open each menu and option in the platform screen and understand each one. If there are parts that are not understood, please find out from the internet, books or love to financial consultants. To find out more clearly, don't hesitate to join the educational program held by your brokerage company.

3. Understand The Relationship Between Economic News and Price Movements

Fundamental factors in financial markets come from news, data, reports and issues circulating in the market. learn between a news release and the product you are trading. Assume you are trading AUD/USD products, then if the United States Central Bank raises interest rates, the currency pair you hold will weaken. This is possible because the increase in interest rates in the US resulted in the strengthening of the US Dollar exchange rate.

4. Learn Technical Analysis

After mastering fundamental factors, you need to learn technical analysis. Technical studies are a way of reading price movements using charts and indicators. Traders don't need to buy or install technical platforms anymore on a PC or tablet because the 'tools' needed for technical analysis are already on the trader's trading platform. It may seem complicated at first, but once you understand and find the right settings, trading traders will be much more fun.

5. Focus on One Product First

For example, you choose gold or gold (symbol:XAU) as the product to be traded for the first time. Make sure you find out everything about gold, from the history of gold and the market to price movements in recent years. Understand what factors can affect its movement and its application using technical charts. It is better to be 'proficient' in one product than to trade in many products without sufficient knowledge.

6. Don't be Shy to Ask Questions and Commit to Learning

"Shame on asking astray in the market." There are so many terms and strategies used in the trading world. This is certainly confusing for those of you who are not used to it. The best way to understand it is to study and ask. All information about futures trading can indeed be found on the internet and books, but there is no harm in asking directly to people who are more experienced such as colleagues, family or the education team at your brokerage firm. People may think you're fussy because you ask too many questions. But believe me, it's much better than you trading with minimal knowledge.

More info:

Free soft copy material by contacting 081 258 066 174 Whatsapp/call

Private info / paid premium class (guided forever until get consistent profit and independent). Whatsapp/call 081 258 066 174 / 081 233 593 672 or direct access to our Website www.wijayatrading.com

Be careful with group and parties on behalf of Wijaya Trading, we never accept investments or entrust funds to be managed from investors for any reason. Official contacts number of Wijaya Trading only use the 2 numbers above.