Online Trading Tricks: 7 easy Tips to Improve
Published: 25 January 2021 by Andrew
What are the best online trading tricks? Beginners are often obsessed with finding tricks and shortcuts to make quick profits with trading.
Let’s say right away that this research is understandable, because we all want to make money, but at the same time it can also be risky because it can lead straight into some well-organized scam.
In this guide we explain what are the best 7 online trading tricks to trade without errors and without cheating.
Let’s be clear: there are no shortcuts because easy money just does not exist (in trading as in life). However, there are some tips that can immensely facilitate the life of the beginner trader and we present them in detail.
1- Use Authorised and Regulated brokers
Let’s start immediately with what is not even real trading tricks but an obvious thing: if you want to trade you must use only and only authorized and regulated brokers.
Authorized brokers, in fact, are required to comply with the very strict European legislation that protects investors. The supervisory authorities (such as Consob or CySec) constantly monitor these brokers and protect traders.
Unfortunately, many novice traders are unaware of this simple fact and fall straight into the trap of unscrupulous scammers.
In fact, unauthorized brokers do not provide any type of protection nor guarantee to the customer. Signing up with one of these brokers is a real financial suicide. Trading scams have become so common that some inexperienced people have started to think that trading is a scam (and we know that it is not).
For this reason, we advise all traders to carefully check that the broker chosen is licensed and regulated.
Below, a complete list of the best licensed and regulated brokers available in Europe. We have chosen exclusively free and easy to use brokers:
Min. Deposit: 50€
Min. Deposit: 100€
Min. Deposit: 50€
Min. Deposit: 250€
Min. Deposit: 100€
Min. Deposit: 250€
By choosing one of these brokers you have the absolute guarantee of not being scammed and you can also trade in a simple way.
2- Copy the best traders
One of the best online trading tricks available to beginners today is the ability to copy, fully automatically, what the best traders in the world do.
How? Thanks to the broker eToro: not only does it provide one of the best trading platforms but it is also the largest social network of investors in the world.
In practice, with a eToro it is possible to trade but also to get in touch with the best traders in the world. And, if you want, you can copy them automatically.
eToro has in fact created an innovative software that allows you to find out which traders have obtained the best results in the past. These traders can be selected by the user and it will be the software that will, in real time, replicate all their operations.
Indeed, even those who do not know how to trade can start successfully immediately, obtaining, from the beginning, the same results as the best traders in the world. And he can also take advantage to learn, just by observing live what the best are doing.You can sign up for free on eToro by clicking here
This is one of the best online trading tricks available to beginners but beware: it takes time and effort to select the best traders to copy and you must also monitor, day after day, the returns generated by these traders.
3- Receive trading signals
Another extremely profitable trading trick is to operate following trading signals.
A signal is an indication of a potentially very profitable market situation. It is not a form of automated trading because it is the trader who must make the final decision and must execute the operation.
Of course, not all signal providers are good, and sadly, most aren’t even honest. They say they get amazing results, with very high earnings, just to entice beginners who may be willing to pay high sums for a subscription which in the end is worth nothing.
On the contrary, let’s say right away that those who follow trading signals elaborated by an incapable is destined to lose money.
For this reason, we suggest that you carefully select the sellers of trading signals, analyzing the history of the results obtained in the past. Of course, it takes independent proof, because many salespeople falsify history to prove they are good when they are not.
The best trading signals service is completely free and offered by the ForexTB broker: you can click here to request the signals for free!
4- Limit the risks
Trading can be risky but there is good news: those who operate with intelligence have the ability to limit risks in a spectacular way.
Let’s make a premise: those who work with authorized and regulated brokers, such as the brokers that we presented at the beginning of the article, do not run the risk of being scammed, so their capital is safe.
Furthermore, the brokers that we have presented allow you to trade with small amounts (from 10 up to 250 euros) and therefore the maximum theoretical risk is very limited.
Then there are some techniques, very simple to implement but unfortunately forgotten by beginners, which allow you to further limit the risk.
The first is called money management: it consists of dividing the capital into small shares and using only a small share on each operation. In this case, even if an operation ends at a loss, the result on the overall capital is truly negligible.
It is important to remember, however, that if you use authorized and regulated brokers, the risk you run is equal (at most) to the sum committed on a single transaction.
But this risk can be further reduced thanks to the stop loss: a stop loss is an indication of the maximum loss that you are willing to lose on a single transaction.
In this way, those who want to risk very little, have the opportunity to do so. As we said, however, many novice traders are unaware of this fabulous possibility and therefore when they get it wrong, the damage is big.
Incidentally: when trading, everyone is wrong, even the best. Except that the best lose very little because they remembered to set the stop loss.
5- Study online trading
This last example brings us to the fifth of online trading tricks (this too is not really a trick but almost an obvious one): before starting trading, you need to study.
Unfortunately, there are so many who start trading without even knowing what trading is, how it works and how to earn. Then of course they complain about losing money.
Our advice is to always start by studying a good trading course. There is no need to get plucked by a course vendor: paid courses are often very expensive and give little value to the student, because they are full of useless theory.
One of the best online trading courses is the one offered for free by ForexTB. The success of this course has been tremendous, with hundreds of thousands of downloads in just a few months.
So much success is due to the fact that the ForexTB course is:
- Free, while most other courses are paid and cost more than they are worth
- Easy to read, even for a beginner. In particular, no incomprehensible technical terms are used and all concepts are explained in detail.
- Practice oriented, with online trading tricks, strategies and techniques, while many paid courses are full of theory and do not explain how to make money with online trading.
Of course, it’s not enough just to download this free course: you also need to study. We say this because many aspiring traders download the course but then, since it cost them nothing, they forget to study it and put it into practice.
6- Use the demo smartly
But even studying is not enough if you want to become a good trader, you have to practice!
At the beginning it is advisable to use a demo account, that is an account that is in all respects similar to the real one, with the only difference that it allows you to operate with virtual money.
In this way, you can experiment with techniques and strategies without any kind of risk.
But be careful: working too long with a demo is not correct either. The underlying problem with demos is that they allow you to replicate the technique, but not the psychology of trading.
In fact, trading is not just made up of indicators and strategies. Successful traders are not those who know the technique better than others, they are those who know how to dominate emotions.
Fear and greed can play tricks on the novice trader and must learn to master them. And with demos, unfortunately, it is not possible since you do not risk or gain anything.
This is why it is advisable, once you have acquired a basic preparation, to move on to operate with real money.
The best brokers, the ones we presented at the beginning of the article, allow you to start with really low sums (usually 250 euros is more than enough)!
The intelligent use of a demo account is one of the most useful online trading tricks for beginners. Too bad that many do not even try to operate in demos because they are in a hurry to do real trading while others spend months, waiting for who knows what …
7- Carpe diem
Those who decide to trade online cannot fall in love with a single stock or a single market but must seize the opportunities that arise, always and in any case.
Let’s take Amazon shares trading for example: many newbies fall in love with this stock which has actually had a rapid growth in recent years and therefore always bet upwards.
It is not certain that they are not right, but it could easily happen that the stock goes down (after all, no stock goes up forever) and at that point it would be appropriate to earn on the downside.
Incidentally, this special passion for the title is also exploited by some scammers who advertise a method of making money with Amazon (which obviously only makes you lose money).
Or there are those who invest on the stock markets and therefore dedicate themselves only to playing the stock market and perhaps miss the opportunity to buy cryptocurrencies during the big (periodic) booms …
In short, if you want to trade open your mind and buy or sell in the open what is moving the most!
Online Trading Tricks conclusions
In this article we have explained some of the best online trading tricks. These are not tricks for earning easy money (easy money does not exist) but tips that allow you to immensely improve the trading experience.
In some cases it is not even a question of real tricks but more of obviousness, such as choosing authorized and regulated brokers (to avoid being scammed) or studying before starting trading.
Probably, copy the best traders in the world thanks to eToro or use ForexTB's free trading signals.
Absolutely not, it always takes time and effort to achieve results. Indeed, easy money is the typical trap of scammers.
No, you risk losing money through ignorance. We always recommend that you study a good trading course before starting.
Yes, but they must prepare and use a licensed and regulated broker to avoid scams.