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Five Commandments of a Successful Trader

Email sent: May 6, 2021 4:59am
With them you'll make sense of trading rules much better ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

What's the most important thing?

To begin with, learn the 5 basic rules of successful trading. They will help you to cope with excitement and to see what you need to focus on.

Don't rely on your hunch

Trading is first and foremost about analysis. Predictions and fortune-telling aren't of any use. Focus on learning trading strategies, reversal patterns and indicators, and trading will become steady and predictable. We'll be sending you instructions, assignments to test your knowledge and trade analysis. Follow our newsletters and learn trading step by step!

Use small amounts

Professional traders advise against investing more than 5% of your capital in trades. If you have $100 on your balance, the best amount for one trade is $3 to $5, so you can trade profitably and keep the risk minimised.

Do not yield to emotions

Anger, excitement, euphoria — all these are very strong emotions that can adversely affect your trading. If you feel you're not ready for a calm analysis of the market, you'd better put off trading. It's natural to have positive or negative feelings caused by success or failure. It's vital at such moments to stop trading in time and take rest.

Follow the news

When learning trading strategies carefully, you'll often see them fail when important news comes out. News have a strong impact on the market, which can turn against any signals after the release. So, keep global events in mind. These include economic news, important meetings, or speeches of major policymakers.

Communicate with other traders

Other traders will share a lot of new and interesting things about trading, while you can ask questions or share your experience with them. Go to trading websites, forums, and communities on social media. 

It isn't difficult, but worth remembering. In the meantime, try to learn a new strategy and apply it on your demo account.

Try it

Practice with success!

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Financial operations offered on this site may involve increased risk. By using the financial services and tools this site offers, you may suffer serious financial loss, or completely lose the funds in your guaranteed-trading account. Please evaluate all the financial risks and seek advice from an independent financial advisor before trading. The Binomo company is not responsible for any direct, indirect or consequential losses or any other damages resulting from the user's actions on this site.

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