There are practically no traders who would not drain their deposits. In any case, I have not met such. At the start, it happens to everyone. The difference can only be in the amount of lost funds.
The first goal a novice trader should strive for is to learn not to lose a deposit. I know this from my own experience.
After it is achieved, you can start improving the quality of your trade so that it is profitable. Of course, this requires an effective trading strategy. But the income from trading depends not only on it, but also on some other factors. The trader must have certain skills that will help improve trading results.
Even if a trader has a proven trading system that allows him to earn, this does not mean at all that the limit of possibilities has been reached. Some of the potential income is lost for a number of reasons. If you take appropriate measures, you can increase your trading income.
Traders who use medium-term or long-term strategies in trading have a lot of free time. Why not use at least part of it for additional income, for example, from intraday trading. Two or three good deals a day won’t hurt at all.
The lack of a systematic approach to trading can also worsen the bottom line. We are talking about trading opportunities that were not used. This can happen if a trader does not pay due attention to discipline and does not analyze his trade.
We always say that compliance with the rules of money management is a basic condition for successful trading. However, it’s important to apply them in a way that doesn’t hurt your income. Unnecessarily strict restrictions can significantly reduce the size of the profit.
In order to increase your trading income , I recommend paying attention to the following points: spread, liquidity and volatility.
When choosing a broker, take an interest in the spreads for trading instruments. The larger they are, the more potential profit you will lose.
The degree of liquidity of the selected trading instruments can also affect the amount of earnings. If it is high, it means that the assets are popular among investors. There is no shortage of supply and demand. This means that there will be enough options for earning.
Highly volatile currency pairs allow you to earn more. This is especially important for those who prefer scalping. Strong moves are a good opportunity to increase profits.
Everything that I have told you today may not seem so significant for trading. But in fact, these are the conditions that allow you to increase income from trading without making any special efforts.