Tradinr

[Don't demo trade for too long]

So, how long should you trade demo?

one month?

four months?

One year?

The truth is, it depends...

If you are a day trader, you may want to consider demo trading for one month

However, if you are a swing trader, you may want to consider the three-month demo trading

The concept is that the higher the frequency of your trades, the less time you should do demo trading, and if your frequency of trades less then

It's the opposite.

He remembers...

Your goal in demo trading is not just to test whether or not your strategy works.

But to see if your trading plan or trading routine works for you or not so you can make adjustments along the way.

Start trading now

[Exit demo trading and start small]

now…

It doesn't matter if you want to start with $100, $500 or $1000.

What matters is that you get out of the demo trading.

Start trading immediately.

Start trading small.

And start practicing good trading habits.

I know the feeling of nervousness when trading live for the first time, and that's okay.

But if you start small first to build trust, rather than dabbling in your family's wealth (I hope not)...

You will find yourself in an excellent place to start trading and position yourself in an environment to continue improving as a trader.

Reasons for loss in trading

[The stop loss order will save your trading account, here's why...]

A stop loss order is a type of order that automatically takes you out of a trade.

This means that you don't need to stare at your charts all day and try to scare your pants off as the price approaches your stop loss order.

now…

I'm not gonna lie to you ...

It hurts to lose...

Even if it was just a bad deal.

But how do you feel when your stop loss order is hit, and the price turns against you even more?

excludes…

You are not there to take a hit.

You feel good, right?

Don't just free up space in your portfolio early on to look for better trading opportunities.

But you also prevented a huge potential loss.

Can you see why this is important?

This is why you can think of a stop loss order as a “risk police” that prevents you from losing more money or experiencing unexpected losses.

Indicator detection in trading

[Do you really need both Stochastic and RSI?]

Well, they are the same but they are different.

I'll explain...

Stochastic and RSI are similar because they are both momentum oscillators.

In other words, they measure the momentum in the market and their values range from 0 to 100.

But how are they different?

Well, the calculations that go into Stochastic and RSI are different.

However, they use the same concept of measuring momentum.

Thus, you should not be surprised to see both the Stochastic and the RSI pointing in the same direction (albeit with different values).

So, the bottom line is...

If you want to use a momentum indicator (such as RSI or Stochastic), just pick one that will do the trick as it pretty much tells you the same thing.