EVALUATE RISK
In trading, much like in any aspect of life, the bigger the risk, the bigger the reward. Many new traders tend to forget one of the most basic rules of wealth management – risk should never exceed potential reward. Do not turn winning trades into losing trades because of greed.
STICK TO YOUR GAME PLAN
Market trends are rarely a straight line, and volatility tends to scare new traders into closing positions mid-action. Have a game plan and the power to stick with it. Brace yourself, spot the trend, and ride it with confidence.
DON’T JUMP IN
Market conditions are constantly changing, and what may have appeared to be solid ground just minutes ago can quickly shift into quicksand. If you miss an entry point, wait for a better one or find a new opportunity. Take the time to re-research and re-evaluate this position in order to minimize risk.
RELY ON RESEARCH
Read thoroughly, research deeply, and plan heavily before opening a position. The Alvexo Trading Academy has a large selection of tools, analyses and market news that will give you all the information you need before investing. Talented traders avoid hoping, wishing, and praying; it serves no purpose in investing.