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Rules Followed by Professional Traders: How to Make Money Every Day?


How do professional traders spot great trading opportunities in the financial market almost every day? Which key traits separate experienced traders from beginners? What steps to take to become a successful professional trader? Read on to find out. Any professional trader was once a beginner and asked all types of questions starting from “Can you make money trading?” and “How much can you earn trading Forex?” to “How to make money in a particular situation?”. While looking for answers, the novice trader took a series of actions, gradually growing to the next level and becoming a professional.

Many seasoned traders highlight three key differences between them and those who are just taking their first steps in trading. These are:

These three simple ideas may be on the surface, but they can fundamentally change your process of becoming a professional trader: they will make it more effective and exciting.

Stages of a trader’s development

Each trader moves through a certain learning curve to gain experience and competence. This process is not bound by time but almost always includes the following key stages.

There are a lot of trading approaches and strategies, and each of them has the right to exist:

This stage is characterized by an active increase in “trader’s IQ” but is still accompanied by a lack of stable financial results. The AMarkets Trader’s Calculator is a convenient tool that allows traders to calculate margin requirements, the pip value, swap size, and spread for the selected asset. Select a desirable financial instrument (in the chart above, we took EUR/USD as an example), lot size, leverage and account currency. The calculator will calculate the trading conditions automatically and display them for each account type.

Don’t put off your trading until tomorrow – use professional trading tools now.

One of the key differences between automated (algorithmic) trading and manual trading is that emotional factors are completely removed from trading decisions. A trading robot is software that uses a specific set of instructions to place a trade set by the trader. Positions are opened only when certain market conditions are met.

Try free trading robots and automate your trading now. Go to the “Expert Advisors” section and earn like a pro! Test and optimize your strategies with the Strategy Tester in MT4 and MT5 trading platforms and choose the most effective ones.

The trader’s professionalism reaches its climax – he keeps making a steady income, but he can now quickly identify good trading opportunities without meticulous analysis. The trader gets the feel of the market’s pulse. It is often enough for him to look at the price chart and indicators he uses to determine the market entry and exit points.

Earn like professional traders now! Subscribe to the AMarkets Telegram channel and follow daily trading ideas from recognized market experts.

Top 3 rules for successful trading

Each trader passes through these stages as he accumulates the necessary experience and trading skills. However, there are several rules that will help every trader go through this process faster and more confidently.

Rule #1: Optimize your trading system

Every professional trader has a solid trading strategy that allows him to make trading decisions based on specific signals. The number and nature of these signals may differ depending on the trading style and the selected timeframe. Most trading strategies involve taking a position only when several signals appear. For example, before opening a BUY order, a trader receives the following signals:

When building a trading system, it is important to optimize it in two directions:

Use one of the most effective tools to analyze your trading strategy: AMarkets’ Trade Analyzer. Get advanced detailed statistics on your trading strategy and practical recommendations on how to improve it.

Rule #2: Use a quality trading platform

Trading platforms with a user-friendly interface and a wide range of functions allow professional traders to save time on market analysis. Let’s consider the main parameters of trading platforms that have a convenient interface and help traders quickly and efficiently analyze the price action. MetaTrader 5 trading platform interface. Quotes are provided by the AMarkets online broker. This information should not be construed as investment advice. The screenshot above shows the interface of the MT5 trading platform and different graphical representations of price charts and indicators.

A convenient trading platform should include the following features:

The MetaTrader 5 is a top-quality and powerful trading platform that has all these features.

Rule #3: Stay cool and calm while trading

Emotions can prevent you from making rational decisions and following your strategy. One of the main rules of professional traders is: keep your head cool while trading. Fortune analysts note that it’s important to understand which emotions drive you specifically while trading. Fear or greed can overwhelm our judgment, causing us to make irrational decisions. An experienced trader gets into a trade with a well-defined plan, ready for both large profits and losses consistent with his trading style and money management strategy. Most importantly, a professional trader focuses on the opportunities the market offers, not on the money made or lost.

Why? Because he knows that excellent trading opportunities appear on the market all the time. So, even if he misses some of them, the new ones will soon present themselves.

#source


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