Golden Rules of Commodity Trading | Commodity Tips
1. Always use money you can manage to pay for to lose. If it’s above it, you won’t be capable to enjoy the mental liberty to create sound trading decisions. The key is the mental independence.
2. Start small capital. Test your all trading setup and its every logic through the paper trading or the back test it with the accessible data. Then initiate with small quantities and free online trading tips such as Free Commodity Tips with Live Charts, Stock Tips, Nifty Tips etc.
3. Be patient & disciplined with the deal set up and logics. Have conviction in it and don’t support your deal on hope. Only act as a robot without any emotions and have pointed temperament. Don’t attempt to time the market’s high & low high for a deal entry. In fact, let them build up so as to confirm the configuration and then go in. It’s better to obtain in with a few kinds of the insurance or confirmation quite getting stuck in a fake formation. Impatience outcomes in:
-Jumping in trades and getting stuck in the incorrect direction.
-Getting out rapidly of a possible gainful trade.
4. Trade what you observe, not what you wish for to see. Be a market trend follower and ride the market momentum. Don’t initiate the day with a judgment. Let the market inform where it needs to go. The opinions, obtain what you in problem. Always trade the market trend. In fact, ride it. One more important thing, don’t go opposite it.
5. Try to neglect market orders. Always use of it shows a be short of patience & discipline and the conviction in your deal setup and its stock trading tips, Online MCX Tips Via Market Experts. Before permitting a trade all things should be pre planned (exit/entry /stop loss).
6. Never permit your whole position one price. Do it in 2 to 3 installments to look if the market is touching in your way before completely committing yourself.
7. Always deal with a strict loss (SL). Using a SL is not a symbol of your lack of certainty in the trade. It is a symbol of lack of certainty in the mood of the trading market.
8. Never insert to a losing trade position. When a market has given the decision that your deal is incorrect, you are incorrect. Accept it. Just get out of it and don’t usual it. Don’t get it personally and carry your ego in between.
9. Don’t fight the marketplace. It’s not a similar on me then. It’s same for many. In fact, this circumstance should never occur only as SL will hit if the market goes opposite you. If it doesn’t strike adding to a trailing position is still opposite Rule 3 of not being enduring & disciplined and trading on expectation.