How to start your trading journey

Blog post 1-scale

The online trading industry has been growing quite remarkably, especially last year when people had
more time. Many have started to open trading accounts and dip their toes in online trading. However,
there are a number of traders who have given up early because of the failures they encountered
early at the start of their journey. Avoid these pitfalls with the tips below and let this be your guide as
to how you can increase your chances of being a successful trader.
1. Start with an assessment of your WHY.
Before you start, it is important to assess your intentions on why you want to start with online trading.
Is it for the long-term? Short-term? Is there a specific goal that you are trying to achieve? Do you
want this as a complementary stream of income or something you want to engage in full-time?
Starting with your why would help you determine the kind of effort and commitment you would need
to put into your trading journey.
2. Enrich your knowledge.
Online trading is all about money whether they appear in the form of currencies, gold, oil, and so on.
Nevertheless, it is money you may have worked hard so it is important to go into online trading with
enough knowledge so you don’t waste your precious resources. Learn as much as you can to
understand the fundamentals of trading and execute strategies that would give you the biggest
chances of winning – and in this case, income gain. Learning sessions, such as the ones we offer
here in SmarTrade, are a good place to start and best of all, it is free! The only thing you need to
bring is your desire to learn.
3. Understand the risks.
Trading comes with a lot of risks and it is important for you to take this to heart so that your
expectations are managed. At the same time, putting proper measures in place can minimize the
risks you may encounter and give you bigger chances of achieving success. SmarTrade offers risk
management learning sessions to better equip our clients so that they can handle their trades better
and more strategically.
4. Learn to analyze.
Online trading needs some level of analysis and this should be in your comfort zone if you want to
be successful in your online trading journey. Join SmarTrade’s learning sessions on different tools
you can use for market and financial analysis and be one step closer to a successful trade.
5. Be open to learning.

Like anything else in this world, there will always be ups and downs when it comes to your online
trading journey. Don’t let failure discourage you. Instead, make them a stepping stone towards
success. Learn from your mistakes and apply necessary measures and strategies to avoid them in
the future. There is so much room to grow and as long as you are willing to keep learning, you are
well on your way to better and more successful days.
We hope that these tips will help you start taking the first steps towards your financial freedom.
Check out SmarTrade’s learning sessions this month and we wish you the best in your trading
journey! Good luck, SmarTrader!

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