Friday, May 24, 2024

How to Become a Trader in 2024?

If, of all the possible options, you have decided to choose trading as your source of income, we have two news for you at once: bad and good.

The bad. Imagine yourself sitting in an office, generating incomprehensible and brilliant (as it seems to you) ideas for your subordinates who bow to you and clap, and everyone dances like in an Indian movie and there is champagne all around. That will NOT happen.

The good. Work from anywhere in the world. You can get an expansive funded account at a reliable prop platform with a one step trading evaluation, as with FX2 Funding. Of all the equipment, you only need a computer and a smartphone.

Where Should a Trader Start in 2024?

Ready to begin trading? First things first:

  1. You should start your trading journey by choosing the type of trading. Let’s assume that you decided on futures as your trading direction.

2. The next thing you need to do is choose a broker. Many things depend on it: the set of instruments available to you, the stability of withdrawal and deposit of funds, and the comfort of trading. Study the following:

  • positive reviews, and recommendations from experienced traders;
  • working conditions, profitability, functionality, and internal rules of the platform;
  • availability of applications for smartphones and PCs, their convenience, and the absence of bugs.

3. Now it is time to decide on the deposit amount. There is no need to start with huge sums, and neither do you need to borrow huge amounts of money to start trading. Start with whatever is available to you, and be prepared that you may lose it.

4. Start with a few strategies and indicators that are easy to understand, perceive, and repeat. You can train on a demo account or with minimal amounts.

5. Make a trading plan and follow it. If you got into trading intending to make this business your main source of income, you won’t get far without a solid plan.

6. Join some good trading clubs and analyze all the transactions that are posted there.

Finally, read books and publications. For many, this seems like the most boring and unnecessary stage, but if you want to become a professional trader, sooner or later you will have to delve into the topic for real.

Final Recommendations

Becoming a trader in 2024 is not difficult. Convenient applications, an unlimited number of educational materials in the public domain, trading clubs, powerful trading platforms, and easy one-step evaluation. As they say, the only thing you need is a desire.

Finally, take this free, yet powerful piece of advice: combine. Signals for beginners are an incredibly useful tool, but you won’t get far on them alone. Watch how professionals trade, and copy their trades, but at the same time, learn and improve yourself, always.

If, at some point, your own analytics is no longer inferior in quality to signals (or maybe even surpasses them), then you will understand that you did everything right.

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