Get started

Businessconfidence

Rules to keep in mind while trading to became successful traderMost traders and investors treat trading as a hobby, because, they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Anyone who wants to become a profitable stock trader need only spend a few minutes online to find such phrases as plan your trade, trade your plan and keep your losses to a minimum. For new traders, these things can seem more like a distraction than actionable advice. If you're new to trading, you probably just want to know how to hurry up and make money. Each of the rules below is important, but when they work together the effects are strong. Keeping them in mind can greatly increase your odds of succeeding in the markets. Key Takeaways Treat trading like a business, not a hobby or a job. Learn everything about the business. Set realistic expectations for your business. Rule 1: Trade based on Rule, when in doubt, stay out, Always Use a Trading Plan Rule 2: Treat Trading Like a Business, not as a hobby Rule 3: Proper position sizing is the key Rule 4: Use Stop loss never trade based on hope, Protect Your Trading Capital Rule 5: Constantly Analyze your mistakes and try to learn from it, become a student of the markets Rule 6: Think about the risk potential before your reward potential, Risk only what you can afford to lose Rule 7: Develop a methodology based on Facts, The objective is not to buy low and sell high, but to buy high and to sell higher Rule 8: Trend is our real friend so Don't fight the trend Rule 9: Never, under any circumstance add to a losing position Conclusion Understanding the importance of each of these trading rules, and how they work together, can help a trader establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive areas. This post is just for educational and motivational purpose, See you all next week. 🙂 RK Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSE:TATAMOTORSEducation
by RK_Chaarts
8
New Zealand dollar jumps after FOMC meetThe New Zealand dollar has steadied on Thursday after posting strong gains a day earlier. Currently, NZD/USD is trading at 0.7260, up 0.07% on the day. The pair has climbed 0.85% so far this week. The New Zealand dollar continues to gain ground against the struggling US dollar. The kiwi has flexed its muscles in April, with sizzling gains of 3.97% this month, erasing the losses sustained in March. The FOMC meeting, which was passed without incident, saw the US dollar retreat broadly against the major currencies. The FOMC meeting did not contain any surprises, as the Fed remained in dovish mode. However, a close look at the language of the rate statement and Fed Chair Powell's follow-up remarks revealed a few subtle changes from previous meetings. The Fed acknowledged progress in the battle to control Covid-19 and the strengthening of the US labour market, stating: Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened". When Powell was asked specifically about tapering, he replied that it was too early to have a conversation about that. This sent US yields lower, dragging down the US dollar. With the FOMC meeting out of the way, the markets can now focus on key economic releases. The US releases first-estimate GDP for Q1 on Thursday (12:30 GMT), and the consensus is for a strong gain of 6.8%, after a 4.3% gain for Q4, which was revised upwards from 4.0%. A print of 6.8% or higher could shake up the US bond market and send yields higher, which would likely give the US dollar a much-needed boost. In New Zealand, business confidence improved to -2, up from the preliminary reading of -8.4 points. With the global demand growing for New Zealand commodities and stable domestic activity, I would expect business confidence to continue to improve in the coming months. NZD/USD is testing resistance at 0.7243. This is followed by resistance at 0.7291. There is support at 0.7135 and 0.7075
by OANDA