Thousands of new users are joining the world of the Online market. If you are already part of this great world or are looking to formalise your first successful trades, consider yourself an investor now!
Most potential investors want to make money quickly, but few understand that there is some preparation before doing so in order to ensure profits. The first thing you need to know is how the Online market works, what capital is needed to get started and what online tools can help you make good decisions.
This requires basic notions of the market and while everything is now much easier than ever because you can trade online, there are some rookie mistakes that can be crucial.
Here at TradingKings.io, we know that even the smallest mistake can cost you money. That’s why we bring you this basic guide on how to start trading Online. In addition, you can access our Telegram channels and count on the advice of specialized brokers.
Basic principles to start trading in Online
Online trading does not require you to mobilize a huge capital. However, the larger the investment or the better position and leverage you get, you will get better results. This does not mean that investing the minimum is a bad idea.
Our advice and basic principle to start trading is to seek private advice or make the most of guides such as those offered here at TradingKings.io. Apart from this, there are a number of key principles and basics when investing Online, these are:
Establish the capital limit as an investor
If you plan to take up trading as a new lifestyle, you need to set limits on what you are willing to trade. The golden rule for all investors is this, never invest more capital than you have.
Regulates expectations
Being a beginner in Trading online can plunge you into a wave of emotions and expectations. Therefore, being anxious about possible profits can be extremely frustrating and overwhelming if these expectations are not met.
Use the didactic material
On the internet you can find EVERYTHING about the Online market online. However, this information may not be 100% real if you go to unknown sites. Try official sites like Online or blogs like ours.
Advisors and brokers will be your best allies
Trading is not that complicated, but doing it with the conviction that it will pay off is even better! That said, being assisted by experienced brokers will give you a pass to good decisions. One thing to note, if you plan to go it alone with it, learn everything from them!
Manage stress and emotions
When it concerns money, emotions cannot be an active part of your trading. Always try to keep a calm mind and see the entire scenario.
Take advantage of Online tools
Protect your trades when you feel the market is volatile by employing the “Stop-loss”. This is a limit that you can set in case the market declines. And on the other hand, you will have “Take Profit”, which allows you to continue capitalising profits whenever the market increases.
Keep up to date with statistics
If you have a knowledgeable broker like the ones at TradingKings, you can breathe easy as you will have daily reports. Otherwise, it is best to keep an eye on the fluctuations in the daily Online statistics.
Do not make risky trades
We know that the beginner’s impulse may catch you off guard and believe that this trade will be the best you ever make. But you need to take advantage of the trades you are absolutely sure are safe.
It is always possible to lose
You may not want to read this, but as responsible brokers and experts in the field, we must say it. There is not a single trader in the Online market world who has not had at least one loss.
Planning
Developing a business plan is essential for large and small investors. It must be rigorous as it avoids bad habits.
What do you need to know before you start trading Online?
It is normal, especially when you are new to the Online market, to have many questions and to recognize that there are several variables to consider when trading. Is it possible to enter the Trading market without help? Which are the best-performing currencies? How to study the Online market? Are short-term investments better or is it preferable to be long-term?
These may be some of the questions that cross your mind along with many others. However, what is essential is to know what approach to take, what are the possible outcomes of trading and how to go about it. All this brings us to a single question: How to start trading Online? To do this, first, get to know the key points of the Online market:
Manage risks
One of the pendular points in Trading worldwide is regarding risk management. What is it responsible for? It is the strategy that is formulated to visualize each negotiation of the Online market and to know how feasible it will be for you as a Trader. What is achieved? To reduce losses by a considerable margin.
How do you manage the risks of a trade effectively? This is done by studying and analysing statistics and metrics that indicate the fluctuation of the market every day. Of course, there are other simpler ways such as seeking the advice of an experienced TradingKings trader.
Online trading: Online Demo Mode
If you already know what Online Trading is, the second step you should take is to start your first trades. However, there is an effective way not to expose yourself to a real loss if you are a beginner, it is to use an Online demo trading account.
This account allows beginner traders to get a closer look at the Online market with real data and real live market numbers. The only difference is that you will be using a fictitious assets that will not affect your capital at all.
Study, practice and consult!
Entering the Online market and trading online is not complicated at all, we assure you! But you need to keep in mind that you need to know the terms involved and try different types of Online trading by practicing and gaining the necessary experience.
While you can start on your own, use our guides, free Signals and all the other content out there on the internet. The best option you will always have is to join our VIP Signals channel where advisors and brokers will put you on the right path to perfect trading.
Start your Online trading using market strategies
Trading Assets involves acting in a broad market that has been in operation for a long time, therefore, it is not a secret that at this point there are effective market strategies. Some of these strategies may be better than others, this will depend on each investor, his capital, his way of trading and working, and even if he has a specialized broker.
If you are determined to enter the Online market as a new investor, then you need to know the different and most popular strategies that are being applied by those with more experience. Some of them are:
Scalping
The main objective of this strategy is to make a considerable number of trades involving small trades. This will result in many small profits that at the end of the day will make a good sum of effective investments. In addition, being “small money trading”, the margin of possible losses is reduced.
Many advanced traders rate this strategy as one of the fastest scaling and profit-making strategies. However, there is a small drawback, when using Scalping you will have to become an active investor.
An example when employing Scalping will be those small trades of only a few pips in between. These trades are minute trades, i.e, you open trades of a few pips, hold them and then release them.
Daily Trades
It consists of making Online trades without letting them last longer than one day. The advantage of this strategy is that it reduces the chances of being negatively affected in case of drastic changes in the market.
This strategy is usually the most recommended by experts for beginner traders, which is why they do not have to be 24 hours a day watching for changes in the market. They can easily trade in the morning and in the evening see the complete movement that was generated.
Swing Trading
It is the counterpart of daily trades shorter than 24 hours. In this Online trading strategy, trades can be kept open for a couple of days. But it is recommended that those investments should be of a good number of pips. In conjunction with leverage, you will be able to obtain fruitful trades.
Positional trading
For this strategy the use of Online market statistics, metrics, and charts is necessary. The reason? This strategy will involve following trends and making long-term trades to ensure the maximum possible profits.
But what if a Online incurs a negative change? That’s why the use of current statistics will play a key role in determining when the pieces should be moved.
Online Analysis: Start your trading on the right foot!
Online strategies and analysis are like inseparable brothers. The help of analysis will make the strategies work well. In the Online market there are several types of analysis, but our experts at TradingKings bring the two most efficient types.
Online market technical analysis
Technical analysis focuses on a specific Online asset and is used to determine its behavior. This means that by knowing how they have behaved in the past, one can deduce how they will behave in the near future.
To do this, statistics, charts, and patterns are used. By determining what their pattern or trend is, you will be able to make your moves based on it.
Fundamental analysis of the Online market
This analysis is a little more complex than the previous one. In it, it is necessary to analyze the financial markets and their fluctuations in order to forecast the future price they will have. However, here we take into account factors such as politics, inflation, interest rates, employment rates, and GDP, and how it is reflected in international trade.
Remember that Trading Online is managed according to the volatility of its country of origin. Therefore, it is necessary to analyze how stable they are before trading them.
The importance of the Brokers when initiating Online trades
For almost no respectable investor it is a secret that Brokers are those people who are steeped in knowledge about the Online market. They are the ones who receive direct orders from investors and execute them to the letter in order to make effective trades.
Nevertheless, not all brokers are reliable, especially those who are not regulated by any reliable company. By choosing wisely you avoid headaches, loss of funds, and bad decisions.
Is there a way to choose a broker wisely and trade safely? There is! The majority of reliable advisors and brokers have direct support almost 24 hours a day. Along with this, the educational material and consistent signals.
This is one of the reasons why we invite you to our Telegram Channel Free Signals. There you can request personalized attention from advisors and see all the guides available for you to make the right decisions.
How much money do I need to make my first Online trade?
This is perhaps the question that many of you are asking yourselves right now. To start as a Online trader the first thing you need to have been a trading account. Depending on the type of account you open, you will have a variety of services available, these usually require a deposit. Although, having a standard Online trading account requires a relatively low deposit.
The good news for many beginning traders who don’t want to risk all of their capital is that as little as $100 can get you started! In fact, it is possible that two or more investors may decide to have a joint Online trading account, making the initial deposit for their first trade even lower.
With a small investment is it possible to make a profit? It is possible! In Online, with the help of advisors or free signals, it is possible to make good decisions and make that first deposit pay off.
Types of Online trading accounts - What you should know
Brokers have several types of trading accounts. They have different services according to the type chosen by the new investor. Usually, there are four specific ones specified and these are:
Retail trading account: This is the standard account, it works excellent for making trades with Spreads, lots, and a good selection of available assets.
Professional trading account: This account has additional services more complete than the previous one. High leverage, lower spreads, hedging, and scalping are available.
Islamic Trading Account: Meets all the requirements for Islamic Traders according to Sharia Law.
MAM trading account: Offer full services for managing multiple investor accounts simultaneously and for money managers.
Do I need to be a great investor to trade Online?
Everyone wants to have a slice of the pie, while some are already tasting it, others have already been served twice and the rest are thinking about whether to take a slice or not. The Online market is one of the biggest on the planet. In Online, there is room for everyone!
No matter if you are a small investor taking your first steps or someone with large capital looking to make profitable trades. This is the market where everyone can take action, the reason? Transactions to enter have a very low barrier to entry.
This means that, as long as you make good decisions, you will have excellent results depending on how much you invest. However, to start trading Online you need to know the basic principles that govern the players involved.