Trading is about three questions: Why do I want to trade? How do I want to trade? And what do I do if...? On August 30, 2018 at 6:00 p.m. Stefan Sillmann's webinar "The GKFX Trading Sessions: TRADING AS A BUSINESS? ".
The question of why you want to start trading is also about setting your personal time frame for trading, This in turn depends on how you want to trade. In this step, traders determine, among other things, with which setup and strategy they want to start trading. In addition, traders should know how to deal with failures and losses. The webinar provides traders with insights, insights and information on how successful professional traders trade.
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Motivation and time for trading
Many people want to start trading. However, commitment and time are important prerequisites for this. Before you actually start trading, you should acquire a lot of knowledge about trading. This includes knowing the most important terms around trading. Knowledge of markets and trading instruments is also very important.
In addition, traders must find the right broker in order to start trading. In addition to a free demo account for the first steps in trading, brokers like GKFX offer newcomers numerous training materials and webinars in which they can deepen their knowledge. In addition, the broker must match his own ideas and requirements with his offers and, for example, also offer the desired trading instruments.
Decision for trading instruments
When answering the question of how you want to trade, comes also the question of the best trading instrument. Shares, commodities or bonds are also referred to as underlyings. Traders who want to enter CFD trading do not have to buy these underlyings directly, but only speculate on their price changes. Here, for example, shares or indices come into question. Forex trading, on the other hand, is about the performance of one currency compared to another. Here traders can choose from many currency pairs, for example dollar-euro.
Select trading strategy and trading style
On the question of "how?" also includes choosing the right trading strategy and your own trading style. There are a number of trading strategies. Over time, every trader will find the method that best suits them. Here, too, traders should first acquire extensive knowledge. The choice of the best trading style and your own strategy also depends on the investment horizon.
Daytrader usually open and close positions within just one trading day. In day trading, a trade often only runs for a few minutes. Those who are more long-term oriented and who might even want to keep a position open for several days or weeks could opt for swing trading. Here traders try to use trend movements for themselves. Some traders also base their trading on current news and include this in their valuation of prices. These messages include, for example, reports from central banks or meetings of important politicians.
Ashraf Laidi - Multi-Time Frame Technical Analysis
Knowledge of analytical methods
In new trading, the fundamental analysis that traders try to use comes into play to predict course development. Current news and economic data, on the other hand, play no role in technical analysis. This is primarily about the evaluation of price trends, which are shown as a chart. Traders should deal with both analysis methods and also recognize over time which way suits their personality, trading style and strategy better.
Clarify personal framework conditions
An important factor in the Deciding on a trading style and a strategy are also the personal framework. Traders should be aware from the start of how much money and time they want to invest in trading. For example, day trading takes a lot of time, which many professionals may not be able to guarantee.
In addition, traders should be aware of how much risk they are taking and with what aim they are aimed at want to start trading. The goal should be realistic. For example, if you start trading with the idea of being able to buy your dream car right from the first win, you may have too high expectations. Patience is a very important quality when trading, because success is not always immediate. Traders should also know how to deal with failures and losses. For example, some traders feel good taking a break after a series of losses and then starting trading again with a fresh head.
Do not underestimate psychology
When trading, it also comes to psychological Aspects. Traders should always start trading carefully and not open a position from the gut. Trading out of rather negative feelings like boredom or anger is often not a good decision. In addition, traders must learn to learn from their mistakes and be willing to take responsibility for wrong decisions. Successful traders recognize their strengths and weaknesses over time; work on their weaknesses and improve their strengths.
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Start trading via demo account
Traders have now acquired initial knowledge and if you are concerned about your own trading, it makes sense to first test and deepen this theoretical knowledge via a demo account. This is where "new money" is made available to newcomers, with which they can open their first trades without investing their own real money. With a demo account, for example, you can test whether the chosen strategy is promising. Even with "beginners mistakes" there is no risk of losing your own money immediately with a demo account.
Trading with CFDs and Forex at GKFX
At GKFX, traders with Forex, indices, Trade commodities and CFDs on shares. Depending on the underlying, the leverage is up to 1:30. The spreads start at 0.6 pips. There are no further commissions. It is an advantage for beginners that they can start trading with small trade sizes. A minimum account size is also not specified. The broker offers three account types. This allows traders to choose the account type that best suits their trading style.
Trading platforms with many features
GKFX offers several trading platforms, including the MetaTrader 4. On the broker's innovative trading platforms, traders will find, among other things, opportunities for interactive charting and prices in real time. There is also a large selection of tools for technical analysis. With MetaTrader 4, traders can also implement automated trading strategies using the Expert Advisor.
International broker from Great Britain
The broker was founded in 2009 in London and today has branches in many different countries. The company was founded by a team of experienced management experts. Due to the branches in several countries, the supervisory authorities of the respective countries are responsible for the broker in addition to the British financial regulator. Since there is also a branch in Frankfurt am Main, GKFX is also under the supervision of BaFin. The broker has more than 500 employees all over the world.
Conclusion: Trade like professionals
In the webinar "The GKFX Trading Sessions: TRADING AS A BUSINESS?" Traders will learn from Stefan Spillmann on August 30, 2018 at 6 p.m. what important questions they should think about before starting trading. First, traders should ask themselves why they actually want traders. This is about personal goals when trading. This also means how much time and capital you can and want to invest in trading.
Then the question arises of how. Traders should consider here which trading instruments and trading strategy they would like to trade. Another important question for traders is: "What do I do if...?". Among other things, this is about how traders deal with losses.
Traders should think about how and why they want to start trading before starting trading. In addition, it is important to gather knowledge about trading. Traders should never jump into the cold water unprepared. GKFX supports traders with numerous webinars and training materials in preparation for trading. The broker also offers a demo account through which traders can gain initial trading experience without risk.
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