70Trades enables the novice trader in their journey to become a professional by familiarizing them with the market operations and facilitating this further with market analysis, live data, economic calendar etc. Moreover, it is the only brokerage platform that assists a trader by helping them balance their psychology during a profit/loss trade.
But do you know about the last trading strategy? Well it is that you earn money after 70 trades. The number 70 has proven to be the average amount of trades a new investor has to make before being knowledge enough to be a successful trader.
70Trades takes its name from the core 70Trades theory of how it takes a trader a maximum of 70 trades to clock in his/her first profit. Also known as the 70 trades recipe.
These are the steps to be followed before you start real money trading.
Training: Acquiring the information and knowledge necessary to invest in online trading is the first step on your way to earn money when trading.
Studying the markets: Studying and understanding how the financial markets work in practice is the second step.
Free practice: This can be done with the help of demo accounts, which allow you to invest risk-free without a chance of loss.
Control your emotions: Being in control of your emotions in case of both loss and win is crucial. The psychological aspect is what segregates a good trader from the rest. 70trades.com tips on emotional control help with this.
Invest following the 70 trades strategy: One can start investing in the market by following the strategy of the 70 trading operations once they feel confident enough after the demo trading sessions.
Moreover, 70Trades recipe also places importance on the habit of money management and stop loss placement. Stop loss placement is important to avoid any volatile outcomes by closing open positions early, whereas, money management is a necessary step in order to manage your capital efficiently and to spread risk among positions.