Trading and investing has become increasingly popular in recent years. This was reinforced by the rise of celebrities buying bitcoin. Including, the technological geniuses who popularized the idea of the metaverse. Call it, Elon Musk who was able to shake the market with just one tweet. No wonder, if trading looks more promising in 2022.
So, how to enter the world of trading and make money trading? Answered Daria Ivanova, PR Manager of FBS, nowadays, starting trading has become easier, because there are many financial technology companies that help people to enter the world of finance. However, it is very important to rely on a trusted broker with a strong reputation. Trading brokers provide quick access to the market. Trading with a mobile app is one way to do this.
When Trading Becomes Popular in 2022
For example, FBS Trader is a complete mobile trading platform from FBS, which is also an internationally licensed broker. This application is designed to make trading easily accessible from anywhere and anytime, using only a smartphone. This application is gaining popularity due to its simple interface, wide selection of trading instruments, and informative charts. Everything needed for trading is provided in one application.
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FBS Trader also has a built-in education tab with real-life examples, practical tips, videos and even a virtual assistant. In addition, the information provided is easy for everyone to apply, because the material is divided by levels, from beginners with no financial knowledge to advanced traders who are experienced.
For novice traders, they can learn to trade risk-free that requires no deposit. For this reason, FBS Trader recommends novice traders to use two Demo Accounts, namely the Standard Demo Account and the Crypto Demo Account.
Once the trader feels confident and understands how the market works, the trader can move forward and start trading on a Real Account. Then, traders apply their knowledge in the app to check the effectiveness of their trading strategies in real market situations, as they can make money. In the end, the earnings from trading can be withdrawn at any time.
To increase the potential for profitable trades, FBS Trader provides an Economic Calendar, which contains a wealth of information about all the upcoming events that move the market. If app users are unsure about how to take advantage of economic events, they can get professional insights from FBS analysts.
No Need to Master Multiple Strategies for Successful Trading
Some traders may think that trading is difficult, they think that trading requires expertise in using multiple strategies. In fact, just focus on one strategy, you can already be successful in trading. For that, let’s read the article below!
No Need to Master Many Strategies
This article will discuss how and why you should narrow your focus in trading, so that you eliminate unimportant variables and truly refine your craft. As aphorisms uttered by Bruce Lee:
“I’m not afraid of the person who has practiced 10,000 kicks every day, but I’m afraid of the person who has practiced one kick 10,000 times.” – Bruce Lee.
You have to understand that you can’t make money in the markets consistently, if you have a “scattered” trading approach, which is a messy combination of many different methods. All you really need is one simple analysis to analyze and trade charts properly.
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The best traders have practiced and used one core trading strategy hundreds or thousands of times over the course of their careers; they do not practice and try to utilize many different trading strategies, nor do they jump from one trading style to the next.
Total Focus and Discipline
Focus and discipline are the most important in any endeavor in life, everyone agrees on that. However, when learning one trading strategy and mastering it at a time, it may become more difficult.
You need focus and discipline to stay committed to one strategy. You commit to learning one at a time and mastering it, before moving on to the next. For example, you might decide to master the pin bar price action strategy first.
If that’s what you decide, you’ll learn about all the different types of pin bars, how they are best traded, which chart timeframes are best to trade them and more. In this case, your mission is to become a “pin bar expert”.
Become an Expert at One Strategy
As Bruce Lee said, he is not afraid of the man who has practiced 10,000 kicks once, but he is afraid of the man who has practiced one kick.
10,000 times. Now, why did he say that? Because practicing 10,000 kicks one time is basically a waste of time that does nothing.
The human brain requires repetition and habit to form more solid neural pathways, which make us better at many things. The more you do something, the better your brain (and you) will be at it.
Professional athletes, chess players, poker players, business people, hedge fund millionaires, actors, etc. They all know the secret of their life; become experts in what they live. Of course, you must first decide on your expertise, which in trading means your trading strategy.
Unfortunately, many traders never even get this far, they are too “dispersed” and may be overwhelmed with all the conflicting information on the internet. The reason why you need to commit to mastering one strategy before adding another, is because it gives you something concrete to do, to stay accountable.
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Most traders have problems with discipline and focus because they are too distracted and overwhelmed by all the information on the internet, they are unable to make a decision. Decide, commit to doing this and you will start to see the fruits of your decision over time.