Are you new in trading? If you are, then you’re probably seeking a foundation to help you get the field. Trading can be a complicated business, especially with the massive literature on the field available.
It’s an ancient field after all. Books on trading have been written as far back as 100-150 years ago!
Of course, technology has made access to the field easier. You now don’t have to head to a stock exchange or do long distance calls to trade. You can simply do everything from the comfort of your desk or couch.
Comfort and Accessibility Have a Price Though
That would be competition. When better tools become more widespread to the community, everyone is bound to adopt them. For you to not adopt such tools would put you at a disadvantage.
You’ll be in efficient, wasting needless time and effort that could be saved.
For example, technical analysis before the existence of the internet utilized paper books. A trader decades ago would order charting books by mail to do their charting work. That took a lot of time and effort.
Testing technical indicators was slow, since you had to draw and calculate everything by hand. You didn’t have the algorithms of today’s charting programs. You didn’t have the opportunity to switch between indicators with the click of a button.
Do you see any trader using paper for technical analysis today? Definitely not. That would be the epitome of stupidity.
What Tools Do You Need for The Trade?
The business of trading is mostly homework-based (unless you’re day trading – then you need a lot of real-time practice).
Homework requires advanced research methods. You’ll be looking for information online on shares and markets you’ll be trading. Whether you be trading forex, metals, or options, you need to get your homework information fast.
It’s vital for you to do your analysis. You can’t place a position in a market unless you have your calculations sorted out.
You’ll also need some practice before trading. Preferably, you’ll want to do some paper-trading, especially if you’re getting into day trading.
Through paper-trading, you’re making “pretend trades” with “pretend money” against the motion of real markets you’re trading. You’ll be recording every trade you place, gauging results in the end.
Where Do I Find the Tools Necessary to Trade?
Trade12 can provide those tools to you!
Trade12 is a platform that has been online for close to 12 years, specializing in brokerage services for a multitude of markets. Additionally, the platform provides material to help traders adapt to the ever-changing market conditions.
Two of those tools are demo trading, and news analysis. Through demo trading, a trader can open an account with pretend money to practice before getting into the real game. You can sharpen your skills without spending a dime out of your bank account!
With news analysis, a trader has the ability to gain the information they need to make market choices. A trader will never have to waste hours seeking sources of credible information just to do their homework.
So why not start using Trade12 now? We’ll surely not disappoint you!