10 tips for successful trading

What are the secrets of successful trading? There is not a quick fix, no fool-proof plan, no single strategy that allows making a profit every time, any time. That said, there are a few tips that could make trading easier.

  1. Use a trading plan
    It’s always a good idea to have a clear plan whatever you do. Trading is no exception. Thinking ahead about criteria for entry or exit, a time frame for trading, what is your risk tolerance, what are the acceptable risk/reward ratios and profit targets, and other parameters will make for a smoother experience and results that are more consistent.
    To find out more about trading plans visit our Education section, or consult with our experts.
  2. Persistence is the key
    Treating trading as a hobby or something silly you use to spend your time on or set aside when you’re bored or something goes wrong is not a winner-making attitude. For one, if you want your trading plan to give you results, you have to follow through, every time. Take things seriously; make an effort. Poor work ethic, in this case, could be very harmful.
  3. Technology is your friend
    Trading is a very promising and accessible field. You won’t be in a want of competition. This is why you should at least consider using everything that gives you an edge on other traders. The CapitalXP mobile app allows you to receive real-time market news, charts, market analyses, and other trading tools wherever you go. It’s useful to have ability open and close traders on the move – no chance of losing your perfect opportunity!
  4. Manage risks
    Bigger the risk, bigger the reward is not always true. In fact, with trading, it almost never is so. That’s why there are so many existent risk management techniques. That’s why stop-losses and take-profit are a thing. Protect your capital. Even if things look good enough for now, it could take only one unfortunate incident to make you re-do all the progress you made on your trading capital.
  5. Communicate with more experienced traders
    Trading is a solitary affair. You need little more than your computer or your smartphone with an Internet connection to do it. It’s not an office job. Because of that, you won’t have a mentor or a colleague to exchange opinions and experiences. And no one can learn everything by himself. Seek out people to obtain the benefits of shared knowledge. CapitalXP makes it easier to communicate with more knowledgeable traders thanks to webinars and live trading with experts.
  6. Specialise
    There are so many attractive markets it is not possible to keep track of them all. So don’t try everything at once. Choose something you are interested in the most and invest time and energy in that field. Don’t scatter your attention. It would be hard to make the right choice in trading when there’s too much to choose from. If you truly believe you can’t get anything useful out of the market anymore look elsewhere. Just not everywhere at once.
  7. Stay focused
    Traders are under a great deal of stress usually. It is in the business’s nature. Circumstances change too quickly. Risks could be hard to deal with. Most of all, there are and will be still losses. You must accept it so when it happens, you’re not out of your game. Acknowledge loss and move on.
  8. Never risk more than you can afford to lose.
    Things were said about proper risk management and acceptance of losses, but the most important thing is you should never use the money you can’t afford to lose (such as a mortgage or college tuition) to fund your trading account. You can’t be prepared to lose if you can’t afford to fail. The anxiety of a possible loss will make you a worse trader.
  9. Keep the big picture in mind
    We talked about losses at length. Now, it’s time to mention winnings. The same principle applies here. Have realistic expectations about your winnings and don’t let them distract you from your trading plan.
  10. Schedule is important
    Developing a routine for your everyday trading activities is useful. You should choose your trading hours. When it would be most efficient for you to participate in a trade? Put it down in your trading plan. Set aside time to check news and market reviews and industry reports. And no overtime. The trick for trading is not ‘work harder’ but ‘work smarter’. You need to be in top shape if you make decisions that might cost you money.

No rule in trading is set in stone. However, those 10 tips, if followed, would make it easier to achieve your set goals successfully.

10 Reasons Why You Should Choose CapitalXP

CapitalXP is a worldwide trading platform with a broad scope of offered services. Doesn’t matter if you only tipping your toes in online trading for the first time or a seasoned trader proficient in all things Forex, you should rely at least on those 10 main points of your market experience.

  1. Security
    Security of our customers’ data and the safety of their market experience is taken seriously in our company. That’s why the website is secured via the latest SSL technology.
  2. Support and trading 24/7
    Do you want to make money around the clock? We are able to provide you that. Open and close positions 24/7, and do not worry about having any trouble of getting quality support outside of usual business hours.
    We value our clients and consider it an honor to have an opportunity to accompany them on their trading journeys!
  3. Educational resources
    There is a full length of educational tools available for all levels of Forex knowledge.
    Glossary will provide a basic understanding of terms that are used in trading on a regular basis.
    Live-streamed webinars with leading experts and analysts will offer adept guidance and insights on inner workings of trading to make you more knowledgeable about the market.
    E-books on Forex, CFD, stocks, and cryptocurrencies make self-paced and well-rounded education a reality.
    Market news will provide relevant data to make informant decisions in trading.
    Trading signals from the external provider will help make quick and clever trading decisions.
  4. User-friendly
    The website and the mobile application both are designed with clients in mind. User-friendliness of the interface is a point of pride for developers, and it is reflected in many CapitalXP reviews.
  5. Flexible trading to all investor types
    The platform is useful for traders for all levels of expertise and involvement in the process. You don’t have to be already a specialist to use MT4 with our help, there are educational resources and the help of experts available. Moreover, if you have more than a basic understanding of how to behave on the market and how to use tools existing to make the process smoother, you will be glad to see that a variety of them is here at your disposal.
  6. Transparency
    Transparency, in our opinion, is a must for a company providing services on the financial market. That’s why we have strict adherence to international AML (anti-money laundering) and CTF (counter-terrorism financing) policies. To find out more, visit our AML/KYC page: https://capital-xpreview.com/
  7. Personal manager and personal analytic
    Even Basic accounts have a dedicated account manager that will be glad to help make first steps into the market trading.
  8. Cryptocurrency trading
    Trade and withdrawal in cryptocurrency! We offer Bitcoin, Ethereum and other high-in-demand and secure cryptocurrency.
  9. Mobile App
    Trade on the go with a pioneer mobile app that helps invest, keep track of the market news, open and close positions, deposit and withdraw money. Full access to charts, indicators, and educational tools is included, as well as a variety of financial instruments.
  10. Customized trading experience. There are several types of accounts that offer different features based on the customer’s needs. From Basic (introduction to the platform and financial market, personal account manager, access to educational tools) to Platinum (sentimental, fundamental and technical analysis; one-on-one tutoring in the MT4; strategies, both short-term and long-term; trading signals; risk management; personal skype service; senior account manager; daily market brief; VIP webinars and private webinars with experts; live trading with an expert) and even more!
    To find out details, message your personal manager or our support team (support@capitalxp.com) will be glad to assist you in choosing your customized plan.