This is part 2 of our most extensive guide for choosing your own trading strategy/method. The goal is to provide every trader with the opportunity to decide what’s best for them depending on their trading preferences.
In part 1 we spoke about the timeframe and the asset. These two things are, essentially, the main factors, which a trading strategy/method is based on. However, there are other things to consider when creating a trading plan – internal factors such as trader’s experience, approach and goals. These personal traits largely influence the way you trade, so it is just as important to pay attention to them in order to be able to make more informed decisions.
Experience
Novice traders who are just starting to explore the peculiarities of trading may not be ready to use the same tools and techniques as their more experienced counterparts. How much do you know about trading?
If your answer indicates that you are still not sure about the basic concepts, this could be a good opportunity to brush up on them. Before trading with real funds, it is crucial to learn the essential terms that you may encounter in the process. Checking, for example, the common candlestick patterns as well as understanding the purpose of graphical tools and indicators may help with developing a working trading approach, too.
Should you be well-informed about the basic trading tools, you may dive deeper into more advanced trading strategies, like, for instance, the Elliott Wave theory. It does not mean that the methods used by novice traders are irrelevant, it just might be a great way to broaden your horizons and explore the financial market a bit deeper.
Goals
Setting your priorities in trading is quite similar to setting your goals in life. While some just want to have fun, others are focused on achieving results. What outcome do you expect from your trading?
Though it is not possible to predict if your outcome will be positive or negative, since trading is quite risky, it is still important to visualize your desired result. It will help you understand if you are more of a long-term investor or a short-term trader.
Realizing your goals is also a good starting point for planning a risk management approach. Calculating your capital and the amount of funds you are ready to invest and, potentially, even loose, will help you to decide what methods you prefer to use and help establish the trading routine. For instance, based on the trading capital, a trader will be able to plan the amount of deals they wish to execute.
Realizing the goals in trading is the first step that every trader has to take in order to plan their further activity accordingly. It may help to improve a lot of common mistakes that novice traders make.
Conclusion
Planning a personal trading strategy may seem complicated, however, once you break it into components, it is much easier to manage. In order to make up your own trading strategy, check parts 1 and 2 of this guide and answer the questions in each paragraph. Read the linked materials and use them to your advance. Good luck!
The you have is very useful. The sites you have referred was good. Thanks for sharing…
Thanks for taking the time to reach out to us. It really helps us to keep going and delivering the best 🙂
Salman arkani 01114286066 I all ready deposit 30 usd
Hello!
Can you please contact our support at support@iqoption.com as we can not check the problem here on social media.
We thank you for your cooperation.
Hi ms I am Salman I all ready deposit 250dlr your account how many mk
Hey Salman, we could not understand your question, can you please rephrase?
Hy
Hello, how can we assist you?
Hy
Coin me
Can you please help me with risk management analysis,how can l do it ,am a newbie in forex……and also some trading patterns.
Thank you for reaching out, Adven. We would like to chat with you regarding your experience with us. Could you contact us at support@iqoption.com? Thank you
Thanks for this..really helped alot
Hello Jack, thank you so much for your feedback.
Malaysia pulau Penang lorong Mashuri 15 no 7 Bayan Lepas
that was usefull thanks alot.
Hello Dear, thank you so much for your feedback.
We try to do our best and to provide you with the right information. Let us know if you have something to add. Good day.
Plzzz 10 doller
Iqoption Scam
Hello! We are sorry if you believe so. We are not a scam but a genuine app. If you have any issue / question which makes you believe that the app is a scam then please do not hesitate to contact our support team at support@iqoption.com and they will check it for you.
Help plz iwan to top up
Good day! The minimum is 10 USD.
The availability of the payment options may vary depending on your location, but you’re welcome to check them here anytime: https://iqoption.com/en/cabinet/counting
Kindly note that it is strictly prohibited to use a payment method that does not belong to you.
bom dia, no dia 12/01/2021 fiz um deposito por boleto na minha conya da IQ Opition e ate agora nao apareceu o valor para eu poder operar, ja entrei em contato pelo chat e so ficam falando que os analista estao resilvendo mas ja estamos no dia 19 e nada, alguem poderia me ajudar por favor???
Obrigada por entrar em contato! Lamentamos mantê-lo esperando. Por favor, aceite nossas sinceras desculpas. A equipe responsável analisará o assunto e retornará a você em breve.
Pleas coin me