If you want to learn how to trade stocks and forex from the comfort of your home, then you’ve come to the right place. This article is designed to give you the information you need to start a day trading career that’ll provide meaningful results within a short time period. It goes without saying that the first step is always the hardest, but it’s the only way to reach the second step, and from there to move on to the third, and the fourth, and eventually go on to become a successful trader.

Many novice traders and first-time investors charge into stocks, indexes, bonds, commodities, currencies, and futures with low initial capital investment and high profit expectations, only to quickly find out day trading isn’t as easy as it’s made out to be. The prospects of profitability often lure people into the world of trading, but the reality of losing money can be a powerful deterrent. That’s why getting educated and staying educated play a vital part in every trader’s daily routine

Understand – Improve – Apply

Naturally everybody wants to reach the best money making strategy. But how to develop one that works best for you? And is it possible to learn from others’ mistakes and successes? To save yourself some pain down the line, you can start by investing in your trading education: Follow financial news websites and blogs for the latest market influencers; sign up for online courses that walk you through the core fundamentals of most common trading concepts; and watch trading videos and webinars, created by industry experts.

Because when it comes to creating a blueprint trading system, the key to success lies in your ability to research, analyse and cherry-pick certain resources. This will help you understand and identify how trading rules and formulas affect your chances of earning money, improve the most valuable investment skills in your arsenal, and, ultimately, reduce your overall guessing odds.

Recommendation: Before entering a trade, ask yourself the “Five W’s”

What instrument(s) do you want to trade? For example, stocks or forex pairs?
Why specifically these? for what end (long-term/short-term, etc.)?
Where are you trading? Are you focusing on local markets, which are easier to follow, or do you prefer international markets that are generally more volatile?
Who are you trading with; is it a trusted, reliable broker that offers competitive trading conditions and safety?
when trading is more lucrative. And as timing is everything: learn about the most important time of day/week/month.

Learn How to Control Your Emotions

There’s another reason you should focus on education first. Whether you are a seasoned pro or completely new to the field, you will find direct knowledge or awareness of something without relying on intuition to be extremely valuable. According to professional traders, the reason many traders fail to consistently gain profits is because of their fear of losing money. Too many get emotions involved in their trades and when a trade moves against them, tend to freak out, instead of sticking to a predefined (and rational) trading strategy that proper education helped them formulate.

Remember:

Objectively analysing performance is the best way to improve your trading. Educating yourself through research gives you access to and understanding of routines that’ll help minimise the losses and emotional distress that come with losing invested capital. Over time, as your confidence rises and you become more successful, you will be able to step outside your personal and professional comfort zones towards a higher trading volume and potentially higher returns.

Mentoring and Trading Go Hand in Hand

Reading helps a lot, but one of the best things you can do to hone your trading skills and ensure success is find a reliable mentor. Mentors will advise you on specific stocks to trade, on currency trading techniques and strategies suitable for beginners, and, most importantly, on how to avoid the common mistakes made by forex and CFD traders, including excessive use of leverage, lack of patience and over-reliance on scalping or hedging.

All mentors place a high personal value on helping others, whether for the general good or for personal advantage. However, regardless of their motives, all mentors wish to grow their follower base. That’s why a great place to find the right mentor is through social media platforms such as LinkedIn, Facebook or Twitter. Plus, with the right broker, you can also get access to market researchers and expert traders (in the form of webinars, courses, and dedicated one-on-one support). These highly experienced mentors will happily share ideas and strategies that’ll enable you to reach trading independence.

Bottom Line

While it’s common to hear about the people that become rich by forex and stock trading, we rarely hear about the many individuals who have lost their fortunes due to too eager pursuit for riches. Aiming for easy gains will only take you so far. Just like when trying to learn how to ride a bike, one must be willing to occasionally fall, so also, educating yourself to carry out research, stick to mentors advise and practice trading with the right instruments, in the right environment, and at the right time — all this will get you closer to your goals and dreams.

Successful traders are constantly looking for ways to simply strategies, all the while improve at their decision-making capabilities in real time. Mistakes and failures are always part of the process. As such, try to analyse your losses and learn to reduce them. This will help you develop a more disciplined and consistent approach to beat the inconsistency out of online trading.

OPEN AN ACCOUNT WITH FORTRADE TO TRADE PENNY STOCKS OR FOREX!
*** GET AMAZING BENEFITS – FREE! CLICK TO START NOW! ***