#BinanceAlphaAlert #PowellRemarks #
Here is a set of important tips for new traders in the financial markets:
1. Learn the basics first
Understand concepts such as: supply and demand, support and resistance, technical and fundamental analysis, and risk management.
Do not start trading until you have a good knowledge base.
2. Start with a demo account
Use a demo account to test your strategies and get accustomed to the trading platform without risking real money.
3. Set a clear trading plan.
Do not trade without a plan. Your plan should include:
When to enter the trade.
When to exit.
How much you risk from your capital.
4. Capital management
Do not risk more than 1-2% of your capital on a single trade.
Maintain a balance between returns and risks.
5. Accept losses
Loss is part of trading. Do not try to "get revenge" on the market or recover losses in a reckless manner.
6. Avoid greed and fear
Do not let emotions control your decisions. Always stick to your plan.
7. Follow the news but with caution
Economic news affects the markets. Follow the economic calendar, but do not trade based solely on news.
8. Document your trades
Record every trade you make: reason for entry, exit, result. This will help you evolve and improve your strategy.
9. Do not blindly follow others
Recommendations can be helpful, but it is always better to understand and analyze for yourself before making a decision.
10. Continuously develop yourself
