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Five Important Forex Share Trading Tips

Always respect yourself & have trust in yourself & follow a strict routine to control your trade deal as per your ability.

USEFUL SHARE TRADING TIPS FOR BEGINNER

five-forex-share-trading-tips

PREPARATION OF SHARE TRADING

These are all simple Tricks I have applied during the share trading business before starting. Suppose that You want to swim, before going, you must be well acquainted with swimming costumes, timings, place, etc. Preparedness & that’s for all before you step into the Share market. Just get well prepared & be careful & happy.

KNOWLEDGE ABOUT SHARE TRADING

No problem at all if you are well prepared in advance. Before starting in FOREX trading study about all countries currency & its pairs & relation with other countries currency. The situation of worlds relation & current affairs. Basically gather idea & details about US $ Dollars Euro, Pound. I think us $ dollar is the main currency of World Trading. So far as my knowledge goes Dollars have the power to motivate the world’s economy. Always American policy has a great impact on the World's Economy. Always read the news about trading & note all impacts carefully. Only think before you join not after any action is done.

CHOOSE TIMINGS OF TRADING

There is a huge no of Brokers available in the Market Choose carefully & start. Don’t get convinced in their traps. Discuss in detail before deposit & start trading. Have your time managed & don’t be panic Share Trading is a psychological game. Be psychologically strong & to do so grow the regular practice of YOGA & deep BREATHING exercises. Build your strong mentality & physical fitness. Choose a particular time to start & do it strictly.

FIX YOUR TRADING CAPACITY

Before starting trading analyze your capacity of investment which is the KEY of share trading. In share trading, there is huge uncertainty & panic situation you have to face. FIX your financial GOAL. Decide you are interested in part-time or full-time. To me, the concept is very much boring actually there is nothing Part Time or Full Time. If you start Trading it will follow you continuously. So, prepare for long-time & Full-time Share Trading if you are really interested. Don’t be over-excited during market movement or be panic it’s just like a ping-pong ball as you throw hardly in the ground more it will jump. Don’t forget your investment capacity & financial Goal. Remember another one thing Market has its own limit & it will move in its limited space.

EFFECTIVE TRADING NEEDS PERSONALITY DEVELOPMENT

The essence of the problem is that most traders like and need security in all its forms, but share trading is the most insecure business you can be in. Never in other professions creates so many intense emotions and reflects so much of our personalities. The stock market really influences personal & family life too. Keep your relation cool & friendly.

To trade effectively, the right mindset is essential. Yet, nothing is harder than divorcing ourselves from the multitude of factors that have created our mindsets in the first place, and that reflects how our brains function. We are influenced by parents, family, friends, the environment, society, the media, books, and many more. By the time we start trading, all of these influences tend to fix trading patterns that are often dysfunctional or suboptimal. Trying to change these patterns is somewhere between difficult and frightening.

BUILD YOUR OWN SUPPORT SYSTEM

Choose a comfortable and peaceful place in your house. Make your daily routine as per your personal timings. Share your extra responsibility with family members, friends, colleagues well in advance. Try to be positive in the workplace & be honest in your timings. Keep ready extra funds for any unforeseen sudden market movement. Plan your weekend Tour program. Eat plenty of water & sleep at least 6 hours every day. Check the charge of your mobile phones, Laptops, Power bank, etc. set alarm also. Be prepared for any volatile market situation don’t be excited. Follow only yourself.


CONCLUSION WORDS

The reason many forex traders fail is that they are less worried about the size of the trades they make. It is either greed or the possibility of controlling huge amounts of money with just a small amount of capital that forces Forex traders to take such huge and fragile financial risks.

I used to hear a very common saying in my childhood, "if you want to grow up, grow up first. " can understand the inner meaning of these lines after losing huge money.

Always respect yourself & have trust in yourself & follow a strict routine to control your trade deal as per your ability.

© 2021 Piklu Chanda

Comments

Piklu Chanda (author) from Agartala on August 25, 2021:

Really amazing experience I shared just try once..

Piklu Chanda (author) from Agartala on August 24, 2021:

Be the least to reproduce your opportunity in your life.

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