Learn to Trade and get some helpful information before you start.
Are you new to trading or in demo mode still and want to Learn to Trade? Over the past 10 years we have worked with many new traders which has helped to understand and compile an education process to suit anyone trying to learn to trade.
You can make the most of our time by reading some of the ideas and processes that have worked for us when we train new traders. There is always an understandable reason why someone is struggling to make consistent returns and be happy with their trading, typically it is because they lack the right education and have not focused on the trading psychology aspect of trading which is the most important component of trading and the Learn to Trade process.
Please take a look at some short Learn to Trade steps below which will help you improve your trading.
Learn to Trade Patience
This is one of the most challenging skills to master and control. It is very easy to get caught up in the moment and let adrenalin overpower your internal control. There are certain physiological processes that occur when we are in a trading environment. Identifying, acknowledging and controlling our responses will help to maintain patience for those higher probability trades. Never mind if you have traded out of impulse before we have all been there!!
If you are waiting for the moon, stars and seven different constellations to align before you enter a trade chances are that your system or trade plan is a little too complex and this can really hinder your confidence and ability to execute trades correctly. Try to keep it simple and logical when it comes to trading in the Learn to Trade Process. You would be surprised or even shocked at how simple some of the most profitable systems are.
PlanningOur ability to methodically plan our trading day is vital to maintaining consistency and success. By planning our trades and committing these to a daily routine we then have a measurable approach to our trading when you Learn to Trade.
Stick to a Trading Plan, execute and review again and again and again!
It sounds boring doesn’t it!
The focus and discipline to stick to your trading plan is one of the keys to successful trading. Obviously your plan may change slightly from time to time to respond to changing market conditions; however your plan is critical. Your plan needs to be specific, achievable and measurable.
Know Your Numbers
Trading is a business based on numbers so it’s critically important that you are good with math or have the tools to be. You should be aware of the most important statistics driving the profitably of your trading system and ultimately your trading account.
Don’t get caught up in thinking that a high win rate is the pot of gold at the end of your rainbow. Look closely at the risk to reward of your system or strategy as this will determine whether you will be trading with an “edge” in the market or not. If you need some guidance about how to find your risk to reward just ask as I am happy to show you how to do it for free.
When I first started to Learn to Trade I really struggled with this component of trading. While most of us are excited by the prospect of no longer being told what to do and when to do it by a boss. That is exactly what we need in our trading, particularly as a new trader. I can’t stress enough that working from home or for yourself needs even more accountability for your own performance. Not just in your trading account performance but your ability to abide by the trade plan every single trade, day, week, month and year far beyond the Learn to Trade process.
We hope the information has helped and we will continue to publish more artciles which will help to improve your trading.
If you would like more information on the Pro Trader Program and get a better understanding on Learn to Trade Processes using our Automated Trading Software Systems please contact us today to start your day trading career in Forex, Futures and Stocks. We can allocate capital to you if you complete our Pro Trader Program.
Contact us today Learn more about Learn to Trade
Regards, Team GMT Futures
Level 19, Waterfront Place, 1 Eagle Street, Brisbane, QLD, Australia, 4000
Trading involves the risk of loss as well as the potential for profit. Please be advised that any advice provided by Key Equity Education Pty Ltd including this video on Learn to Trade is general financial product advice only, and your personal financial circumstances have not been considered in its preparation. Please consult your licensed financial consultant to decide if trading in Securities, Derivatives, & Foreign Exchange is suitable for your personal financial situation.