Western Precious Metals is a newly established exchange, and investment is not recommended. At present, exchanges like this abound, many of which have been closed for less than a year. It is still recommended to choose a trading platform that has been established for more than 3 years. Now the platform relies on bragging, and only time is the only truth to test everything.
Basic investment skills that novice oil investors should master;
1. Make full use of simulated accounts and exercises. Novice investors have just entered the crude oil investment market and have no firm operating experience. Don't rush into the market blindly at this time, which will only lead to the failure of the transaction and undermine confidence. Novice investors should first study patiently, make full use of simulated accounts, treat each simulated investment as a real investment, summarize the failure and successful experience of each simulated transaction, and explore a set of analysis strategies. Do the actual firm trading after you have little confidence in yourself.
2, reasonable control of transaction costs, take out the money to trade as far as possible to ensure that within the scope of their own losses. The purpose of investors investing in crude oil is to make money and improve their living standards. Although the more transaction costs, the more profits investors can earn, but if they encounter losses, investors will naturally lose more. Therefore, for novice investors, it is best to control their own costs reasonably at the beginning of the transaction to ensure that they can bear the losses, so that they will not be saddened by a loss, even their basic living expenses, which will seriously undermine investors' confidence.
3. Don't trade too frequently. In the investment market, the market can't be in violent fluctuation forever. Sometimes it is closed on holidays, and sometimes it needs to be adjusted after the market. At this time, the market fluctuation is the smallest. If investors want to make a profit, it must be when the market fluctuates violently. Therefore, when the market is calm, investors should not blindly go to intraday trading, which can only be futile. It is better to spend more time analyzing and considering the trading strategy that should be done in the next big market.
4. Strictly set the stop loss and set a certain guarantee for the investment. Investors will lose money because of poor market grasp or sudden changes in the market. At this time, they should make a decisive decision, and don't hesitate to close the position. Don't think that maybe the market can turn around and hesitate, which will only lead to greater losses. Therefore, investors should strictly set stop losses to avoid huge losses.
5, follow the trend, don't operate against the trend. The market is changing all the time, and some investors think that this wave of decline may change in the next second. Investors with this idea think that they may be able to speculate and make huge profits. So I took a contrarian approach and made more orders when the overall market fell. Such an approach will only make investors suffer heavy losses. So remember, rising waves can only be long, falling waves can only be short, and even as long as there is no earth reversal in the market, you must never place an order against the trend.
All the above are personal opinions, and I hope to adopt them.