CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Even when a trader has a strategy, which statistically offers an edge, then mindset and psychology play a pivotal role, where the trader's ability to follow the plan/process with discipline and focus will constantly be called into question.
However, for those willing to become a student of the markets it is not impossible to take what the market is offering and to grow the capital in the trading account.
As we roll into 2024, I have put together a 16-point guide on what I’ve learned over the years, what has worked for me, and what I’ve observed from traders who have held a consistent performance and an enviable equity curve.
You may disagree on some/many of the points and your experience may differ greatly from mine, but trading is unique in so many regards. Let me know what works for you.
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Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.