Trading Tips for Beginners! #4: Slippage, Mixed Analysis and Brokers and Fraudsters

Today is the fourth video in my trading tips series!

Tips:

1.) Wrong price trading. When the price comes to the level you want, there's some slippage. The price suddenly slips, and it's close to but not the exact right price. When the price slips, it's already a wrong trade. This means that you may have to increase your stop. My tip is: close these kinds of trades. Otherwise, the risk will be increased, which you shouldn't do if you can avoid it.

2.) Don't combine technical analysis with fundamental analysis. Fundamental analysis examines the performance of a company, and includes an analysis of the news. The news often doesn't have a relationship with the market, sometimes positive events are making the news, and the market is still falling, and the opposite is also true. I teach technical analysis, but you should pick an approach and try not to combine technical and fundamental analysis.

3.) Find a good broker. You should research the broker, and the product that you're trading. I won't be giving advice on any specific brokers, because there are so many brokers that are complete frauds. A lot of brokers will have an "in house market" - and this is very bad, they often are off by a decent number of points from the live market. This can be a huge difference! Make sure you're seeing the real market, and not an in-house market. Other brokers don't even make the trades, they just keep your money and make paper trades, thinking you'll lose it all - and often traders do!

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