Planning your trade is Important!

Hello Deriv Community Members

Trading online can be exciting, but it’s important to be reminded that there are risks involved. We encourage all our users to secure their accounts and trade responsibly to experience the best in online trading.

It’s impossible to know what you’re doing right from wrong if you fail to plan your trade. If you fail to plan, then you’ve already planned to fail.

A plan helps you trade consistently, manage your emotions, and even help to improve your trading strategy. It also helps you maintain discipline as a trader.

Trading is about decisions. A trading plan lays out all the criteria that must be met before any trading decision is made. It will always point you in the right direction no matter the distractions present.

A trading plan outlines how a trader will find and execute trades, and it is different from a trading strategy. A trading strategy will guide how you will enter and exit trades in the markets in a manner that enhances profitability and reduces risk exposure. A trading strategy can be based on technical analysis or fundamental analysis.

You may refer to various articles here on Deriv Community which provide many insights to help your trading journey.

You may also refer to our articles such as :

If you are not sure how to start trading with real money, please use demo accounts to practice and try out your strategy, as our demo accounts are absolutely free to our clients. You can top up your balance an unlimited number of times to find the best trading strategy