Most of your acquaintances may be considered as successful traders a long time ago. They try to buy any goods for cheaper price, and sell, when their cost increases. Even if you have bought a smartphone on sale, it is already a successful deal. For online trading everything is simple in the same way: buy cheaper, sell more expensive. Gain profit from the price difference.
Any financial instrument operates on thу same principle: you plan to purchase at a low rate and then sell at a high rate. If the difference bigger than operating expenses, you gain profit. The advantage of this market is complete absence of borders: gender, age (adults only),physical strength,lifestyle, current location are not barriers to trading, if you only have an Internet access.
It is impossible to guarantee success in trading as well as in any other practices. However, there are three principles, which are accompanied by success in trading.
First of all, future trader searches ways to apply his knowledge and abilities, so he refers to additional information. During getting acquainted with electronic currency market, he sees great perspectives and start to learn theory. About 80% of traders without any experience in this sphere start their trading activity with demo account. Here, they practice the technique of transactions' opening and closing, variety of stock exchange orders and principle of risk management. At the same time, they learn terminology, indicators, economic news and fundamental factors of trade. As soon as basic principles are behind, a trader can move on to real earnings and open market.
Once a novice trader finish basic training and feel that he is ready for trading, he opens his first account and makes the first deals. It is clear soon that real work on the market has its own advantages, which are not visible during work with demo account. On this stage, it is important to keep calm and continue attempts. To save funds, a novice trader is not recommended to play against the market - go with the trend.
The first noticeable profit is a willpower check. Once a trader has seen a positive balance, he may not cope with emotions and start make risky deals. In most cases it causes losses in initial deposit. Trading plan will help you: follow a scheduled scheme of opening trades and do not deviate from it. Futhermore, you constantly need to analyze all your transactions, especially unsuccessful, to understand on which stage main mistakes occur.
When trader has already learned how to gain profit, not loosing head, but still not being confident, it is time to do experiments. Having a developed business plan, he periodically deviates from it in favor of failed transactions. On this stage try to remain potential profit and possible loss in a ratio of 2:1. Mistakes can not be avoided, but it is possible for profit to cover losses.