Learning the Advanced Features of Your Premium Trading Platform
If you think of trading as your profession but you’re not yet using all of the features of your premium trading platform, this article is written for you.
Most Retail Traders Are Losing Money
Often, retail traders don’t understand how hard it is to make a consistent profit in spread betting. And according to the statistics, most retail traders are losing money.
However, that’s only true because the majority of them are trading without the benefit of a solid trading system. That is, they place trades based solely on their gut feelings. Naturally, they lose money.
Of course, they might occasionally get lucky and have a big win. But over the long term, they have a tough time surviving in the extreme heat of the current market.
Most of the articles that are available online give lots of information about how to go about trading. In this article, however, we’re going to focus on helping you learn the advanced features of your premium trading platform. That’s because if you’re a new trader and you haven’t yet learned the advanced features of your premium trading platform, it will be nearly impossible for you to make a profit on a regular basis.
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Subscribe to a Professional Trading Platform
If you’re serious about trading as a profession, then you should definitely engage the services of a reputable broker in the online trading industry. If you don’t give yourself this advantage, you simply won’t be able to compete in a premium trading environment.
While it’s true that you’ll have to pay a higher fee to a professional brokerage firm, if you consider the benefits overall you’ll see that you’ll come out ahead. Experienced traders have been known to spend a good deal of money with these brokers, just so that they will be able to trade in a premium trading environment.
However, you can cut some of those costs by trading with a reputable broker such as ETX Capital. They will offer you a professional trading platform where you can do all the technical analysis yourself, by using their advanced trading tools.
Keep in mind, though, that if you are new to the trading industry, you should start out with a demo account. In this way, you won’t have to lose any real money while you’re learning about trading.
Learn to Place Pending Orders
Do you know that many new traders stare at their trading chart all day long, trying to place their trade at precisely the right price?
No one can become a profitable trader by operating in this fashion. What the real professionals do is place pending orders in the best spread betting platform and let the market do its job. Then they take their profits if the trade goes in their favor.
In other words, they don’t spend all day staring at the price movements. They go about their trading in a systematic and organized way. However, if you trade in a random fashion, chances are low that you will make money in the long run. So learn how to use the pending features on your premium trading platform and utilize your time more efficiently.
Master the Advanced Trading Tools
Remember that you also have access to advanced trading tools on your premium trading platform. Learn to use them to your advantage.
Rookies often use these advanced tools simply as indicators in the market. But indicators will never help you to secure profitable trades. That’s because the prime function of these indicators is to identify the potential false trading signals in the market.
If you’re an active trader you should learn how to use the Fibonacci retracement tools. They can help you to predict price movements in favor of the long-term market trend. Some traders say that Fibonacci trading tools work best with the price action confirmation signal. Simply put, learn the price action trading system and become a more profitable trader.
Become a True Trading Professional
Learning all the ins and outs of advanced trading tools is not an easy task. However, begin with demo trades until you have a better feel for the market and learn to use the tools available to you. Then, focus on developing your trading skills and mastering the advanced trading tools in your premium trading platform. Before long, you’ll realize that you have become a true trading professional.