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How To Start Trading Cheat Sheet

Forex Trading

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bhusham508
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290 views2 pages

How To Start Trading Cheat Sheet

Forex Trading

Uploaded by

bhusham508
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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@trenkovatrades

How to Start Trading Cheat Sheet


1. Educate Yourself:
- Learn the basic trading, including terms, strategies, and market dynamics.
- Explore reliable educational resources, tutorials, and beginner books.
- Consider a mentor to help and advise you through this journey.

2. Start Small:
- Start small amount of money
- Or start with a Demo account where you wouldn’t be losing real money

3. Understand Risk:
- Risk 1-2% of your capital per trade. This will help you stay longer in the game.
- Set stop loss order after each trade to limit potential losses.

4. Stick to a Plan:
- Develop a simple trading plan with entry and exit points.
- Resit the urge to deviate from your plan due to emotions or short-term market fluctuations.

5. Focus on a Few Markets:


- Avoid overwhelming yourself by concentrating on a few markets or assets.
- Get to know these markets well and understand their trends.

6. Use Limit Orders :


- Consider using limit orders to specify the price you are willing to buy or sell.
- This helps avoid unexpected price changes during market orders.

7. Stay Informed:
- Keep an eye on financial new and major economic indicators.
- Be aware of events that may impact your chosen markets.

8. Patience is Key:
- Wait for favorable setups and don’t rush into trades.
- Understand that not every market movement requires action.

@trenkovatrades
@trenkovatrades

9. Track your Progress:


- Keep a record or journal of your trades, including successes and losses.
- Analyse your performance regularly to identify areas for improvement.

10. Continuous Learning:


- Stay curious and continue learning about different trading strategies.
- Seek advice from experienced traders and learn from their experience.

If you want to learn how to trade and become a profitable trader this year or make passive
income with 5 minutes of work each day, DM me and we can schedule a Zoom meeting
where I will explain to you HOW to do it.

@trenkovatrades

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