Everybody is familiar with the trading business. This is the faster and low latency forex VPS platform to perform for the best online server traders. People are fascinated by the investment business as it holds the power to change lives. But having access to this world is not going to make you rich. Truth be told, over 95% of the retail merchants are battling around here. The reason behind this dramatic loss rate has to do with the trader’s action. See professional UK traders. They are doing well and they don’t share the traits of the rookies.
As the title suggests, we are going to give you some powerful advice that can help you to become a professional trader in less than 3 months. Remember, you have limited time to win this challenge. So, follow the instructions of this article very carefully.
Know the basics
The first 10 days should be spent on learning the basics. You have spent a minimum of 10 hours per day learning about the ins and outs of this business. Though you will have trouble it’s absolutely fine. If possible increase the study hours by another 2 – 4 hours. This will give you the extra time to solve the puzzle which seems cloudy. The first 3 days are going to the most difficult task as you will go through many technical terms. Things will get better after the first week.
Study the historic price movement
The second thing you need to do is to study the historic price movement. By accessing the historic price data, you will get a general idea about the trading method. See how the support and resistance level is creating a trading opportunity. It’s true that rookies will get confused at the initial stage but you must stick to the learning session. Spend a week on this method. After a week, try to predict the market movement. It will be a tough task but you will some predictions are spot on.
Open a demo account
Things begin to get interesting when you sign up for a free trial with a reputed broker like Saxo. By using the demo platform you will be taking the trades in the real market. But the amount which you will be trading is not going to be your real money. You will be using the virtual dollar to take the trades. So, the first month is spending to get you through the demo account.
Second month’s action
In the second month, you have to study different kinds of trading methods. After studying multiple trading methods, try to create a simple method that will allow you to take the trades at any market condition. Though you will be trying to make a complicated system the trading method needs to be super simple. Within the next 7 days create a draft trading plan and spend the rest of the month using that trading strategy.
Third-month action
In the first month, you have some very crucial task. Spend some time analyzing the trades that you have taken in the demo account. Find out the reason for which you have lost some of the trades. Spend some time on the winners and see what went well for you and where you managed to make money. Analyzing such data is not difficult. If you intend to do it properly, in less than a month, you can fix the faults.
After fixing the faults in the system start demo trading the market. Soon you will realize the trades that you have executed were wrong in many ways. You will be using the far more advanced trading method and you will gain more confidence. Spend the rest of the month in trading with the demo account and keep on analyzing the trading data. Remember the fact that you will be using the knowledge you have learned in the first month. Never trade based on rumors. Strictly follow these rules and, in less than 3 months, you will be trading like a pro.
