Advices for an intermediate trader.

Kirstysingy

Recruit
Messages
60
Make sure you understand risk to reward ratio and have control of your emotions, these two together will make a massive impact
 

holycow

Master Sergeant
Messages
329
Also not to trade against the trend and follow the risk management rule i.e., taking less than 2% risk which is the industry standard i guess.
 

Doomsinger

Private
Messages
28
news doesn't always help. this is proven by personal experience.
I do think news matters. Of course it never gives you 100% chance of win, however it can help you to develop your strategy or to finalize already existed one. What I'm sure for real is that news is less effective in case of short-time trading, here trade has to rely on technical analysis and watch for the trend line (if his/her startegy consists of trading by trend). Figures such as wedge can help you to predict the movement of the price much more effective than news in this particular case. Otherwise, checking news is a must have imho mianly because it teaches a trader "hygiene of trading" you know.
 

Painskin

Private, 1st Class
Messages
72
I don't think you have to follow only one advice, I'd recommend you not to take losses too hard and try to understand that it's okay in trading activity. Moreover, you always have to learn, learn and once learn, because learning is an inevitable part of every trader. Look for some ducational content whether videos/podcasts or books/articles and try to apply described practices on demo account. But never stay too long on it it may harm you a lot. Real emotions you wiil feel only on a real account, thus don't stay more than couple of months on demo. Come back to it only if you have a need to imporve and edit your strategy, or maybe test a new one.
 

Felhamand

Private
Messages
17
Perhaps, the most common and still useful piece of advice is to keep on learning the markets.
There are no trading strategies which will work forever. THe markets are changing all the time and new trends take over the old ones. THat is why a trader should always learn more and catch up with the markets and ideas of other traders. It is very useful to learn the markets on trading forums like this one because there is no such a course which would encompass so much information as here. What I like the most is the fact that all the information presented here is always changing and refreshes which makes the traders stay tuned with the market. Some intermediate traders may be lulled in the false sense of security which makes them believe that they already know everything about the trading, so they don't need to refresh their knowledge. However, this is far from the truth and it is very important to bear it in mind all the time when you communicate with the market in this or that manner.
Be flexible and patient, that is the key to success, from my perspective.
 
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