Indeed, it can only be tempting to be able to earn money by investing only a minimum, more directly from home. Here are some important things before you start trading.
Things to keep in mind while trading:
The choice of the broker: The choice of broker is essential because there are honest and regulated companies, that are not and for which it may be difficult to recover its funds. Regulation is what? It is a set of laws overseeing the procedures for opening and managing accounts on financial markets, useful for protecting both the client and the investment company. It also requires the client to join an investor compensation fund in the event of bankruptcy.
Also, a broker too young may tend to train on you, so look closely at the seniority of the company that will give a sign of stability and seriousness of it. So do not hesitate to ask since when the company exists.
Never engage in trading without deciding in advance the amount available to invest. This money invested should not be money to live, but money and more. The reason is simple: the financial markets are speculative markets, therefore at risk. You do not have to waste money on rent or the fridge. Also, when you open your transactions, be reasonable: not too many positions at the same time put security on each operation: limits in terms of losses to limit damage and limits in terms of earnings to be sure to win something.
Trading with real money is different:
As much as opening a training account is a good thing, trading with real money on the line is different. Try to trade in the same way with real money as with fake money, the reality is that it’s just not the same when you have something in play. See your account go up or down with each pip can be caught when you play for fun, but can be excruciating when it comes to your money on the table. One of the ways that helped you overcome this problem was to consider each job as a cost to doing business.
Plan the trade, negotiate the plan:
Have a business plan before you press this buy or sell button. Know what price you would like to earn, how much you are willing to take risks and where you would like the price to go. Know why you are taking business and why your stop loss and your target price are where they are. If you do not know why you are taking a job, or if you are not planning a business, you will have more to learn. Follow a free course on a site. Just make sure you understand your trading strategy before you start.
It’s all about jobs you do not do:
Be a commercial snob. Once you understand the basics of a given trading strategy (there are many), be a tough trader. Trade only when all your acceptance criteria are met. You can follow any professional trader, self-taught and, unlike most professional traders who learn on the exchange floor or trading other people’s money, trading on his own money. A true entrepreneur, that experience taught him another valuable lesson: You’re going to make mistakes. So, learn from them.