9 tips to successfully start your trading adventure
Are you interested trading? Today we will provide you with 9 tips to help you on your way in your trading adventure.
1. Only trade with money that you have and do not need straight away
Trading is done with money you do not need now or in the nearby future and of course with money you already have. Imagine your washing machine suddenly breaking down, and you used your savings to start trading. That would be a small disaster. Borrowing money (from a bank of from other people) is never a good idea for this purpose.
2. Determine your trading budget
Trading is no longer for the rich only. Using the BOTS trading platform, you can start trading from € 50. You can choose to do this on a monthly bases or you can choose to do it once. You are the only one who can determine how much money you are able to invest. When your situation changes, you can always adjust your budget accordingly.
3. Practice makes perfect
Before you really start trading, practice a little bit. Not sure how? We got you covered. On the BOTS trading platform you can follow all bots first before you invest. Whenever you are ready, pick a bot and invest a small amount. Training money. Pick a bot that you think will suit you. In this way it will also learn you more about your own reaction to fluctuations in the trade markets. Which will always be there.
4. You are in it for the long-term
Trading comes with ups and downs. The shorter the period you are trading in, the less time there is for a market to recover whenever is goes down. The fluctuations we mentioned in tip three. So give it time, and don't panic at the first down.
5. Be aware of the costs of trading
With traditional trading, you pay an amount of money per transaction. This can either be a fixed amount or a percentage of the value of the transasction. When you trade often, these costs can turn out to be very high. We at BOTS by RevenYOU strongly believe that you should not be the one paying for your broker's new car. That is why we charge 0.0002 x your investment per transaction. Part of this is for the bot developer and part for us to maintain the BOTS trading platform. Fair and transparent.
6. Determine the risk you are willing to take
Not everybody is suitable for dealing with high risks. How would you respond if the market lost 10% overnight. Would you have trouble sleeping at night? Or wouldn't it bother you? Take your own reaction into account when you start trading. To help you on your way, all bots on the BOTS trading plaform have there own risk score. This can very between 1 (low risk) to 12 (high risk). No wit is up to you to determine what risk level suits you the best.
7. Spread your risk
There is no such thing as risk-free trading. It always invloves some risks. However, you can reduce these risks yourself. One of the ways to do so, is spreading the amount of money you invest. With BOTS you can choose from multiple bots. So why not choose 3 bots in stead of 1? By investing in multiple bots, you are already spreading you risk. Altough we cannot give any guarantees, our bots are tested for at least 30 days in a certain market before we upload them to the app.
8. Start trading on a monthly base
As explained before, you are in this for the long-term. After you have practiced, start investing on a monthly base. But only with money you have and do not need in the nearby future. Your investment will be higher every time you make a monthly deposit. And with high returns, a high investment will of course also yield more money.
9. Ask for help if you need it
If you are new to trading, then a lot of information will come your way. Really a lot. Keep yourself informed. If you have any doubts or you feel you need more information? Then check it out. You can find a lot of information on the internet. And you can always contact us. At BOTS by RevenYOU we are always ready to explain it to you. Just one call or e-mail and we will help you on your way again.
Trading is for everyone
Everyone must have access to trading and to a second income. BOTS will make it happen. Together we will make the world of trading fair and transparent. Are you interested, but your question has not yet been answered? Take a look at the FAQs on our site. Or contact us, we are happy to explain it to you personally.
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Risk-free trading does not exist. You can lose (part of) your investment.