5 Key Steps To Mastering Online Trading Platforms

Today, the Internet has made it possible for anybody to trade on the world stock exchanges and the forex markets, but that doesn’t mean online trading is something that you should enter into lightly. It’s a complex business and, as every seasoned trader knows, acquiring the skills and discovering a winning formula takes time and effort. But, if you do your research and get to grips with the fundamentals, it’s surprising just how fast you can become a competent trader.

Who knows? With dedication, you could even become a full-time trader.

1. The tools of the trade

The first step on the path to being a successful online trader is to learn the basics – without losing money. Fortunately, most online trading platforms offer mock trading trials and simulators where you can experiment, get a feel for trading and discover whether or not it’s for you.

Once you’ve got to grips with the basics of online trading, the next step is to acquire the tools you need to take your trading skills to the next level – before you start buying and selling for real. Again, there are plenty of sites out there to help, such as CMC markets, which offers platform trading tools, dealing with CFD, binary and Forex trading. With tools, guides and even webinars all designed to help you hone your trading skills and identify those all-important trends behind successful trading, tools such as these are essential if you are serious about online trading.

2. Accept that you aren’t going to become Warren Buffet overnight

No matter what anyone tells you, playing the markets is not a quick route to riches. You have to be in it for the long term. The markets go down as well as up and, just as with any form of speculation, you shouldn’t don’t risk cash you can’t afford to lose.

For many, this means starting out small. While there are platforms like The Share Centre that will allow you to trade in amounts as small as £7.50, it’s a good idea to make sure you have enough capital for at least several months of trading. It’s unrealistic to expect to be successful immediately and transform a £20 pot into a million quid. A much better strategy is to develop a trading plan and save your money towards a solid fund of several thousand pounds, while learning the basics and honing your game through mock trading and simulators.

3. Learn the art of discipline

Just as important as learning the fundamentals of online trading is learning the art of discipline. This is at the core of any successful trading strategy. Be consistent, do your research, use stop losses and don’t be tempted by gut instinct even though that gut instinct will be proved correct from time to time.

Successful trading is a combination of experience, analysis and informed timing. Your early mistakes in the world of trading should tell you this and help you formulate a strategy that works. Develop a plan based on your experience and experimentation stick with it. Don’t succumb to short-term fear. Online trading is not a short-term thing. Be patient and persevere for long-term rewards.

4. Expand your skills and knowledge

Even as you become more successful, you shouldn’t rest on your laurels. Never stop learning. Online trading is a hugely complex subject. Choose the niche that suits you best, whether that’s Scaler, Day or Swing trader and become an expert in what you do best. For example, do you favour fundamental analysis or technical analysis? Discover the trading styles that you excel at and delve deeper. Read books and industry publications, listen to the experts and look for new sources of information and inspiration.

5. Diversify

At the same time, while you might have your own trading strategies, always diversify. Online trading, no matter how good you are at it, is notoriously unreliable. Don’t put your eggs all in one basket. Instead, distribute your capital among a wide choice of commodities.

Online trading demands time, energy, commitment and, of course, hard-earned cash from your day job. However, for those that can invest all of these and learn the skills of the trade, the rewards can be great.

Responsible for a Spread Betting Budget? 12 Top Notch Ways to Spend

If you are into binary trading of commodities, shares, and currencies, you certainly would like to aspire for the best of spread with a small budget? Is this really possible and if so, what are the strategies to be followed. If you are looking for answers to this question, then it makes sense to go through this article. All those who have been able to successfully bet and romp home with the best of spreads have one thing in common.

It is their ability to plan and strategize. Over the next few lines we will try and have a look at a few tips which could help us to identify the best ways to spend our budgets and make the most out of it.

You should know how to limit the number of markets in which you trade. This is what reputed service providers like CMC suggest. Ideally it should not go beyond three and if needed you could restrict to just one forex or equity.

Learning to use setups’ effectively is also something which you must learn if you wish to be successful in managing spread budgets. Learning to use setups properly will help you to get a better idea as to when to trade and when not to.

Those who have been successful in spreads have been able to do so because they have mastered the art of entering and exiting the market at the right time. When the price crosses a certain moving range, it would be the right time to make an entry.

It is also important to find out ways and means to minimize or even avoid loss when going in for spread betting. This will be possible only when you understand more about stop-loss. This should be done every time one makes a spread bet.

It is also vital to know where to draw the line as far as risk taking is concerned. It would be wrong to go overboard and a benchmark figure would be 1 per cent risk per each trading session.

Procrastinating often results from confusion and lack of strategy and planning. Once you have decided on a strategy it is important to stick to it and put to delay hoping things will turn better. In most cases it could lead to looses then profits.

New investors are always better placed when it comes to spread betting. This is a time-tested and proven fact and this should always be kept in mind.

Understanding the importance of opening a demo account cannot be understated. They set some amounts to help the traders to practice and learn the tricks of the trade. Being in touch with these demo account is certainly a great learning process.

It always is better to start with a small amount and look for small spreads and then move forward with bigger amounts. Being too greedy and aiming for the kill without learning the tricks of the trade should be avoided at all points of time.

Though there could be online service providers who could allow you to open accounts with small amount, it would be advisable not go below a certain threshold limit. This will help the traders to absorb losses much better.

Making use of a financial bookmaker is always advisable. They come out firm prices which is available live on the screen. It is suggested that one should start with around five companies and then increase the numbers going forward. Shorting should be avoided at this stage because it could hurt you both psychologically and in other ways too.

Understand the importance of staying focused and being disciplined. This is not an overnight lottery ticket but certainly a long haul. You must make up your mind as to the levels at which you will trade.

Once you have made up your mind, you should not fall victim to temptation and greed. Writing down your plan of action for the day is a great way by which you can stick and adhere to your objectives, both short and long term.

The above are a few useful tips which should always be kept in mind when going in for spread betting and also when setting budgets for the same.

Cut Down Day-to-Day Expenses

Having a household budget is very important not only to monitor spending, but also for allocating enough money for necessary expenses, entertainment, and contributing to a savings account.  As you start to find areas that could use a needed cut, you would be surprised it is the little things that can cut down the day-to-day expenses that can add up to big savings.  For a little extra time, energy, and discipline, you can find a little extra leftover each month. The sooner you do this, the sooner you can start socking away some cash for a rainy day. Maybe eventually get into investing, like stocks, bonds, and binary options with Banc De Binary. That can lead to compounding interest and returns, then you won’t have to worry so much about cutting down on daily expenses in the future.


As I write this I immediately think of being a child and having my dad yell when we left the light on in the room we are no longer in, but now as I am getting older I finally realize it makes sense.  Why waste money on utilities if you are not using them.  Now I am not advocating limiting the number of toilet flushes, that is gross, but there are definite ways to limit utility spending.  Lights are a given, but limiting showering time, washing clothes when needed, can save on water.  Adjust the thermostat to comfortable-cool temperatures around 65 in the winter and 72 in the summer, and furnace and A/C will not kick on as much as you will see lower costs each month.  Cable is a tough one depending on channel watching, but at least premium channels can be eliminated with streaming services such as Netflix giving an ample amount of TV shows and movies.

Grocery Bill

Having a grocery bill in general instead of eating out is a great way to cut down expenses, by eating at home for breakfast, brewing a cup of coffee for the drive to work, packing lunch, and dinner is a great way to save money every week, adding up to huge savings.  Going shopping bi-weekly to keep the refrigerator and pantry full resists the temptation to go out to eat.  Larger gaps in grocery shopping leads to the “we have no food, let’s go out”.

Home Maintenance

Sure it is easy to hire someone to complete work around the house, but for a little extra time and effort on your behalf and you will wonder why you have not done the work yourself all these years.  Lawn cutting and landscape is a no-brainer, it takes little effort to cut the grass, not to mention it is also somewhat of a workout.  Instead of having a maid come, use a little extra elbow grease and keep up on housework.  Painting can cost a fortune if hired out, but there is no reason you cannot complete on your own.