Necessary knowledge

When a trader is for the first-time part of financial markets, usually they find it scary because of the enormous information and details they must learn. The idea is that you do not need to go for big shots since in the beginning. You will be a good trader if you take the process step by step. Understanding the logic behind every action is the secret key of a good trading experience. 

There are some certain steps you need to follow, some principles you need to base you action and the common sense of when to trade and when to wait. 

Necessary knowledge

When a trader is for the first-time part of financial markets, usually they find it scary because of the enormous information and details they must learn. The idea is that you do not need to go for big shots since in the beginning. You will be a good trader if you take the process step by step. Understanding the logic behind every action is the secret key of a good trading experience. 

 

There are some certain steps you need to follow, some principles you need to base you action and the common sense of when to trade and when to wait. 

3 steps to start:

01

Step one:

Make your own researches

Gain as much knowledge as possible. Practice yourself with Demo accounts which are offered for free and can help you develop the sense of trading. Pick up one or two assets you think you know the best and learn about their past behavior, their trends, when they change the most, what are the reasons, study their charts and try to identify what trading strategy would be more suitable to base your trading actions for this particular asset.

02

Step two:

Choose your trading strategy

Once you have chosen the asset to trade on and you have studied its historical data, you need to settle a trading strategy. In this way you will have a clear idea of what are you doing and what the next step would be. The trading strategy is the fuel to make your trading plan go ahead. It helps you go after your goals, be consistent, persistent and be careful to manage the emotional part while making decisions.

03

Step three:

Learn new things and

learn from your mistakes

We have seen different stories while managing the activity of our clients. There are some traders who think that they know everything, feel secure, trade and stop learning. This is a wrong point of view. You need to learn, improve, correct and change your plan if you see that not everything is going well. It is the same as driving, you change the gears depending on how the path towards you looks like.

However, you need to know some critical steps that anyone looking to trade should follow, to make sure that they understand the rules of the game and principles of markets and how to choose when to trade and when to wait.

Three common trading styles

Day Trading

If a trader wants quick profits taken by small price movements, he will buy or sell the asset inside a single day. 

Scalping

If a trader wants quick profits and he enjoys the rushing feeling of a very quick trading, he will open and close the positions quickly – within a few moments, or at most a few minutes.

Swing Trading

This is a trading style when the trader opens the position at the point market is changing direction. It is not a style which brings profits quick as the other two styles do. 

Two Market Analysis

Technical Analysis

The main idea of this analysis is that a trader can understand how an asset price would move if he study its historical data. If the trader can identify past trends, then the chances are that the future trend is able to be understood. 

Fundamental Analysis

This analysis takes in consideration macroeconomic data, it is not focused in charts but in overall events, political, economic, social, weather related events and everything which cause sudden price movements.

Maximize the profits, minimize the risk

Our aim is to keep our clients safe. We do not guarantee anyone to be in the money all the time. What we are doing here is a hard work to minimize your losses. A loss is always expected, we want it to be as small as possible. On the other hand, we want to maximize your profits.

Prime Funder advises clients to examine in detail our conditions before opening positions on our platform. Our company provides the opportunity to trade all major assets using a modern, convenient trading platform on Forex. The quotes on the website of the Prime Funder  platform are tariffs at which the company is ready to offer customers to buy and sell assets; as a result, financial quotes presented on the platform may differ from those in the real market.

The information presented on the Prime Funder website (news, comments, research or any other information) is by no means investment advice, but an informative commentary on the market situation. There are also risks associated with the use of the online trading system, including, but not limited to, a failure of equipment, software and an Internet connection. The company is not responsible for communication failures or delays when trading over the Internet.

The company is not responsible for any loss or damage, including and without limitation any loss of profit, which may arise directly or indirectly from the use of the trading platform or the information provided on the website.