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Tips to Divide Time for Forex Trading for Beginner

Tips to Divide Time for Forex Trading for Beginner

Oleh: newbi Pada 2020-02-28 20:53:14

Have you ever felt difficulties when you want to learn online forex trading? If the answer is yes, maybe the lack of proper time management is the cause. Because, most beginner traders are still having difficulty in dividing trading time or even determine an efficient trading learning strategy and in accordance with daily activities.

To overcome this, try to follow a few simple tips to divide your trading time better:

Get into the habit of reading economic news in the morning

Morning is a good time to learn new information. Thus, these times are also very good for you to use to learn to do fundamental analysis in stages. For example, if you immediately learn to do fundamental analysis in one day, it will certainly take a long time.

Meanwhile, by regularly reading the financial situation regularly for 30 minutes a day, slowly, you will understand the series of economic events that are taking place. After a few days, you will more easily understand the economic conditions that occur and will not be inconvenienced when having to do fundamental analysis.

Use a Demo Account to Practice Understanding Technical Indicators

For technical analysis, trading trading techniques that you can apply is to test various indicators using a demo account that you have. For example, if you want to know how to do technical analysis using MACD indicators and Bollinger Bands, then you can use your demo account to open trading positions as desired and how these indicators are influenced by market movements.

By utilizing a demo account, even if you end up opening a loss, you will gain valuable new experience and understanding. Do this routinely with one indicator every day. So within a few days, chances are you have mastered various technical analysis techniques.

Make Daily Trading Reviews and Notes at Night

One of the things that can waste your time is to repeat the same practice or trading theory lessons because you forgot the results of learning the previous session. To avoid this, always prepare a daily trading record containing trading techniques and theories that you have understood that day.

That way, you will be easier to track your progress and progress in trading and minimize the time wasted to repeat the same lesson.

Use the Trading Tools feature of Monex

Especially for Monex customers, if you don't have time to do technical or fundamental analysis, then you can take advantage of trading tools provided by Monex. This trading tool can tell various positions that have profit potential when the opportunity arises. So you can more easily determine what trading position you will open without having to waste time doing a time-consuming trading analysis.