7-STEPS TO TRADING SUCCESSFULLY

Transcription

1 7-STEPS TO TRADING SUCCESSFULLY

2 STEP 1 GETTING STARTED The first step on your road to trading successfully should be to open a free demo account. This will enable you to practice all of the aspects you learn during the course under real market conditions without risking any real capital. This is a great tool as it will allow you to learn the topics as you go along. Click here to open a demo account if you have not done so already: Open a Free Demo Account 7-Steps to Trading Successfully 2

3 STEP 2 WATCH THE VIDEOS In the user guides section watch the member s area overview video, which will give you an outline of all the tools available to you. In the same user guides section there is a guide on platform tutorial. You should watch this video whilst practising the techniques mentioned on your demo account. Now that you have your demo platform setup and know how to use it, you are ready to begin with the next step of your course. On the Savi Trading website you will find a library of videos under the area Online Trading Strategy Course (Videos). If you have access to the E-Workbook, this is a perfect companion with the Online Trading Strategy Course videos. As you go through the videos make sure to practice what you learn on your demo account. Initially on the demo account, do not worry about how much money you are making or losing, but focus more on making sure you can use all the tools properly. Remember it is only a Demo Account, so designed to practice on and hone your skills before you trade real money. 7-Steps to Trading Successfully 3

4 STEP 3 BEGIN BUILDING A VIEW To take your trading knowledge to the next level now is the time to register for the Webinars which Savi presents. A listing of the webinars for the month ahead can be found within the Webinars section of the member s area. You should also go through the user guide videos on the various research reports in the member area, and begin to use these alongside all the other resources within the research section. 7-Steps to Trading Successfully 4

5 STEP 4 BEGIN PLACING TRADES Now begin placing trades actively on the demo platform. You should try placing a range of trades, using Instant Execution, Pending Orders, Stop Losses and Take Profits. At this point it is important that you start to understand how much volume size (lots), stop loss and take profit distances have an effect on your profit and loss. You should try different strategies out, as doing so will gradually help build a style of trading which suits you and your lifestyle. BUY AUDJPY at 95.60, with a Stop Loss placed at 94.59, Take Profit at Steps to Trading Successfully 5

6 STEP 5 RISK MANAGEMENT The most important factor in becoming a profitable trader is Risk Management. It is very important that you learn to control your risk properly, as it can be the difference between trading profitably or making losses. We have created a very comprehensive Risk Management Spreadsheet which will help you to control this. The Spreadsheet can be found within the Research tab of the member s area, under Additional Resources. You will find a video within the User Guides teaching you how to use this Spreadsheet. In addition, there is a section within the E-Workbook highlighting this. It is very important you learn how to use this tool, and utilise it by placing trades with the correct risk management applied to each one. It is important to keep trading in this manner for a few days, so that you are comfortable with this, because this will be one of the most important tools to compliment your trading going forward. 7-Steps to Trading Successfully 6

7 STEP 6 BEGIN BUILDING THE PERFOMANCE RECORD Now, you should be fully accustomed to all the tools available to you and also have a reasonable knowledge and understanding of the markets. Now it is time to start afresh and open a new Free Demo account, from the open a demo account box in the member s area. The reason for this is so you can now trade from a starting point and monitor your performance as you should have ironed out some of the mistakes you were making. Once the demo account is open, you should also open a new Risk Management spreadsheet, inserting the new demo account balance into the Starting Account Balance field within the sheet. You should now begin trading on your demo, using all the tools to your disposal, ensuring you risk manage every position, using the sheet properly. You should begin to see the results now, and see your demo account balance beginning to grow. Performance Record 7-Steps to Trading Successfully 7

8 STEP 7 TRADING SUCCESSFULLY At this step you should be at a point where you are trading successfully and able to achieve your goals from trading. If you feel you need to progress further, then please contact us to arrange a consultation where we will be happy to help you and provide you with support to help you to reach and achieve your targets. We also recommend contacting us even if you are trading successfully as we are here to help you push your trading further! 7-Steps to Trading Successfully 8

9 CONTACT US UK Headquarters: 1 ST Floor 70 St Mary Axe, London EC3A 8BE T: +44 (0) /3 E: enquiries@savitrading.com CONTACT US North America Headquarters: 101 California Street, San Francisco, CA 94111, USA Toll Free No.: SAVI T: Savi Trading Courses 9