Valiant Markets - Taking Your Trading Skills to the Next Level

Introduction

Modern technology has brought trading within reach of virtually everyone, and anyone who trades has one key objective - success. However, there are various ways to maximize the potential for successful trading. Valiant Markets, a top trading platform, offers the tools you need to develop and enhance your forex trading skills.

Whether you are new to the stock market or an expert looking to diversify, the tools and tutorials offered by the platform will help get you up to speed. Once you understand your progress, you can improve your skills and adopt advanced practices.

Here, we will talk about the things you must consider that will help you take your trading skills to the next level. 

Read the Signs

As you know, the foreign exchange market is highly volatile. The slightest price fluctuation can leave you with high losses.

You must properly analyze the market and enhance your skills to identify the perfect entry and exit points. Most importantly, you must make additional efforts to minimize the risks when on leverage. Valiant Markets offers tools and guides you to analyze the market to decrease the loss risk.

However, keep in mind that even professionals make mistakes. But, their ability to learn from those mistakes makes them different, and you can do the same too.

Understand the Trading Signals

There are many different types of trading signals. They include chart-based graphics and news events before taking a position. Valiant Markets provide trading signals to give you clear direction about the price at a given time.

You can also identify the entry and exit points with the help of these signals. Moreover, we provide tutorials on reading and applying them to your trading.

However, the choice to follow the market signals depends on you. But, when dealing with market volatility and having little experience with market evaluation, using signals is a must.

Calculate Your Expectancy

When forex trading, calculating your expectancy is necessary as it helps you determine whether your trading strategies are reliable or need to change them. For that, you must measure all your winning trades against losing trades. Also, estimate the expectancy of your previous ten trades and evaluate the profit and loss status. Once you calculate expectancy, write it down in your trading journal. Sum up all your wins and divide them with the answer.

Expectancy is the amount you stand to gain or lose for each dollar of risk.

The formula to calculate expectancy is:

Expectancy = (average gain X win%) - (average loss X loss%)

For instance, a person has a trading account with a $10,000 balance. Over the years, she has realized that she wins 40% of the time and makes about $250/trade.

When she loses about 60% of the time, she loses an average of $100/trade.

So the expectancy is:

Expectancy = ($250 X 0.40) - ($100 X 0.60)

Expectancy = $40

The person can expect to gain $40/trade in the long run.

To gain profits in trade, you must have a positive expectancy.

Record Your Activities

Maintaining a trading journal is essential, as it helps evaluate your progress.

We at Valiant Markets encourage all our traders to do so, as it motivates and directs you in the right direction. Recording your moves and activities also give insights into your strengths and weaknesses.

You can also create an excel sheet about your opening and closing positions and specify the strategies that you follow. That way, you can understand what strategies work for you the most.

Conclusion

Adopting the steps above in your daily trading activities will help you create proper strategies, define your path to success, and enhance your trading skills.

To become a professional trader, you must work hard and maintain your patience. To help you progress, Valiant Markets offers tools and free tutorials. 

Read More: Why Valiant Markets is the Best Forex Trading Platform for Beginners?