Six Incredible Trading Tips We’ve Learned From Lance Ippolito
ALTTrading is not a bed-of-roses, and neither is it a get-rich-quick scheme. It requires dedication, strategy and learning to thrive as a trader.
One of the best ways to get the knowledge needed for trading is by learning from those who have gone ahead.
Lance Ippolito is a former hedge fund trader specializing in options, stock, and futures trading who loves to share his knowledge with other traders.
Lance Ippolito shares below six incredible trading tips every trader should learn.
Six Incredible Trading Tips To Learn From Lance Ippolito
Don’t Chase Losses
There will always be losses and gains in trading and investments. It would be best if you remembered to refrain from chasing your losses when trading.
If you know how to manage risk well, you can make up for 90% of failures with 10% profit. Chasing losses will only lead to more losses, so feel free to close a trade on losses several times.
Trading Doesn’t Have To Be Complex
Don’t think that the more complex your trade seems, the more professional you are. Keep your trading simple and easy to comprehend.
Don’t Trade Forcefully
Avoid trading blindly. Only force a trade if you have yet to see any indicators. This is especially so for short-term traders. Thankfully, the Blitz Daily Alert can give you accurate trading signals.
You Will Not Get Rich Overnight
This is the biggest tip that you have to keep in mind constantly. You can profit from trading if you are an innovative and consistent trader.
Trading is not a get-rich-quick scheme. Instead, it requires patience, skill, knowledge and strategy to achieve meaningful goals.
Stay out of trading with the mentality that you will become a millionaire in a few weeks or even months.
Trade With Capital That You Can Afford To Lose
Yet another expert trading tip is to only trade with capital you can afford to lose. Only trade with funds that will allow you to sleep if lost.
Trading is not by how big but by how smart. An intelligent trader will not trade with more funds than they can afford to lose.
Diversify Your Investment
Only invest your funds in one asset. This is to prevent a total loss in case of bearish market conditions.
Trading Strategies Every Trader Should Know
End-Of-Day Strategy
This constitutes trading near the closing of the market. This strategy studies the price action compared to the previous day’s trade movement.
You can then speculate on that day’s price movements and the indicators you will use. This style only requires you to study chart opening and closing times. It is less time-consuming and is perfect for beginners.
Swing Trading
As a swing trader, Lance Ippolito shared how you can take advantage of market oscillations. This involves trading both sides on the movement of any financial charts.
You buy securities when you suspect prices will rise and sell assets when you suppose they will fall. It is a technical approach to studying the market, and you can do this by studying charts and analyzing trade moments.
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