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Stock market trading small by D este
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Stock market trading small |
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Finance & Investment,Investment
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If you are a new trader start trading a small position size. No matter what you trade when you start out start small or in a demo account. Once you get use to placing trades then you can increase the size. Trade that for a few days or weeks. The reasons for building up slowly are many however this will save you money in the long run. The most important part of this is you understand there are two ways to think trading and markets. Trading small positions It is important to keep your emotions in check when trading. The market doesn't care about your position size. A fifty pip move on a mini lot in the EUR/USD is only $50. But a fifty pip move on five standard lots is $2500. Does the market care about your position size of 5 standards. It does not care and will take your money every time you let your emotions take over. Traders need to set stops and profit targets this will take a major part of the emotions out of your trading. The main difference is how the larger position size affects YOU. This is why adding to position size slowly allows you to not be emotionally affected by the massive changes in the profit and loss column from trading larger sizes.
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