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Beginners in CFD Trading Should Learn These Tricks To Get Success


Oct 29, 2020 (UNI/Media officer): The people aiming to take a plunge in CFD Trading strategies require to know trick of the trade to gain success in it. The beginners should move in this business step-by-step.

Unless the beginners entering into this field for the first time go by the golden rules of the trade, they may suffer losses. Whereas following the simple guides, they can achieve their goal of becoming successful traders in this niche.

Let us have a look at how the beginners can strategize their moves. We will briefly explain these points below:

Risk Management Strategy: This is the primary step. Traders must not take any undue risk as far as their account capital is concerned. In other words, they must follow the risk management strategy enabling them to avoid putting their capital at risk of being washed out or reduced.

You must identify the initial trend move and the consolidation area. After this, make trade entry. One of the golden rules of risk management is that   your committed capital should not exceed 3% of your total account size.

Risk-Reward Ratio: The risk-reward ratio of 1:3 for each trade must be kept into mind and given topmost priority. To simplify this, a beginner should target to make three pips for every one pip you use to ensure you are not running into loss or taking undue risks.

First Timers Must Use Chart Patterns: Those venturing into such trading, should keep in mind that they can minimize their risks by meticulously using the Chart Patterns as the Technical Setup. This can begin by applying the Chart Patterns to by making trade entries and exits in the line of the fundamentals showing dominance within the asset domain. Usually, if price moved in a particular direction in a given time, the possibility is it will follow this trend at the current situation or in future.

Study of Price Structure: Without the study of this, you may not gain success in this domain. The Price Structure tells you the pattern or trend this trade. After analyzing this, you can understand the basic principles of:

a.      Price breakout and

b.      Price breakdown.

Carefully Study Flag Pattern: Analyzing the Flag Pattern is important as it can elucidate the initial trends: the first low, the first high, the higher low and the higher high to finally go into consolidation. This will help the first timers to know how exactly to move to stop loss.   

Though there are several other rules also, these are the basic ones that ensure the first time entrants can avoid losses that may result out of frequent fluctuations in price structure and volatility in market.

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