Trading is an activity that involves the buying and selling of financial assets such as stocks, currencies, cryptocurrencies, commodities, or indices with the aim of generating profits.
To learn how to trade effectively on the platform, follow the steps detailed below.
1. Familiarize yourself with the Platform
Before trading, take the time to understand how the platform works.
Access a demo account if available.
Familiarize yourself with key tools such as charts, orders, trading history, and technical analysis tools.
Review the assets available for trading (forex, cryptocurrencies, stocks, etc.).
2. Set up your Account
a) Verify your account:
Complete the KYC verification process by uploading the necessary documents.
b) Deposit of funds:
Make an initial deposit to start trading. Make sure to use a safe and familiar payment method.
c) Set preferences:
Set alerts, schedules and other preferences based on your trading style.
3. Learn the Basics
A) Types of orders:
Market order: Buy or sell at the current market price. • Limit order: Buy or sell at a specific price or better.
Stop-loss: Order to limit losses when a predetermined price is reached.
Take-profit: Order to secure profits when a desired price is reached.
C) Analysis tools:
Technical analysis: Uses charts, indicators such as RSI, MACD, and moving averages.
Fundamental analysis: Considers news, financial reports, and macroeconomic events.
B) Margin and leverage:
Understand how leverage works and how it can amplify both profits and losses.
4. Create a Trading Plan
Define your financial goals (short, medium or long term).
Set a budget: Only trade with the money you are willing to lose.
Determine your risk tolerance level.
Decide which assets you will trade based on your strategy.
5. Execute a Trade: How to open a trade.
Once you have logged into your platform account, look for the “Positions” option located in the MY TRADE section of the main menu in your profile.
Click on “Position”
A) Select an asset:
Choose the financial instrument you want to trade (stocks, currencies, etc.). In this example we will search and select EURUSD (Forex Market).
B) Perform an analysis:
Use tools like charts, market trends and news to make an informed decision.
C) Enter an order:
1. Define the type of order (market, limit, stop, etc.).
Among the selections you have “Buy” or “Sell” to the left of the asset name.
Click on one of these.
2. Specify your position size (how much you are going to invest).
After selecting the type of order, a box will appear with the details of the operation, so you can select the units or volume you wish to invest in.
3. Set Stop Loss and Take Profit levels.
Before selecting the blue box that says Open Trade, you can set up advanced trades.
Click on “Advanced Trades” and two order boxes will appear: Stop Loss and Take Profit
When you click on the box, the market price at which the trade would close by default will automatically appear.
You can manually enter the price at the amount you want to earn in euros or dollars and the trade will close with that amount of monetary gain or loss.
6) Confirm the operation:
Review the details and confirm your order.
Once you have selected the volume and configured the Stop Loss and Take Profit details, you can select the blue box that says Open Trade.
7. Monitor your Operations
Constantly review your open trades from the “History” or “Current Trades” section.
Adjust your stop-loss and take-profit levels based on market movements.
Close positions manually if you deem it necessary.
8. Finalize Operations: How to close a transaction
Before closing a trade, determine whether it is generating profits or losses.
Look for the trade in the open trades bar where the active trades generating profits or losses in real time are.
Clarifications: If your operation shows negativity, it will appear in red with the negative sign showing the amount that would be subtracted from the balance in the event of a transaction closing. If your operation shows Benefits, it will appear in green showing the amount that would be added to the account balance in the event of a transaction closing.
If your trade reaches the desired profit, click on the *X* on the right side of the screen that says “Close position”.
A box will open to confirm the closing with the details of the trade to avoid accidental closings. Press the blue button that says “Close”.
Once a trade is closed with negative margin, it is classified as a loss-making trade and the amount is debited from the free margin in your trading account.
9. Evaluate and Learn from Your Operations
After completing a trade, analyze the results:
Did you follow your trading plan?
What went well and what could be improved?
Use a trading journal to record all your trades, strategies, and results.
Tips for Successful Trading
1. Manage your risk:
Don't invest more than 1-2% of your total capital in a single trade.
2. Stay informed:
Follow relevant economic and financial news.
3. Control your emotions:
Avoid trading impulsively out of fear.
4. Expert guidance:
Consult with your broker about trades, closings or openings.
5. Practice continuously:
Use demo accounts to test new strategies before applying them live.