What’s the best way to cook? There is no “best” way. You become a better cook with time. Trading is no different. With practice only, you understand the market and get better at trading. I would say backtest as much as you can before testing out a strategy. This will save you both money and time.
Risk management is key to successful trading. A trader should incorporate stop losses, T/P, and other market orders to minimise the risk in trading. One should also be careful when using high leverage. It is a slippery slope. Use leverage that you can handle.
Totally, if you learn to preserve your funds, it would be easier for you to bring in the profits. I mean, how will you make money if you can’t save your trading capital?
Trading is a great side hustle if you have the market understanding. If you are good with storytelling, content production can become a good passive source of income.
I never paid a penny to learn trading. Everything is available a button away. Research and you will find good and free resources to learn trading. Best of luck!
Avoid things that provoke you to make more money. For instance, I don’t use high leverage as this could backfire. Instead inculcate strategies that could prevent losses. Use stop losses and get rid of the mentality of making money instantly.
If you trade with precaution and be consistent, it is a good way of making money. The thing is it is very demanding and not all can put in that work and hours. If you can, then surely you will make something out of it.
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