{"id":4929,"date":"2018-12-26T15:45:23","date_gmt":"2018-12-26T15:45:23","guid":{"rendered":"https:\/\/www.wasteyourtime.co\/?p=4929"},"modified":"2019-09-09T12:02:58","modified_gmt":"2019-09-09T11:02:58","slug":"first-trade","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/","title":{"rendered":"The First Trade &#8211; How To Make It"},"content":{"rendered":"<p style=\"text-align: right;\"><em>2 min read<\/em><\/p>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4621\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/trade-crypto-and-stocks-forex-how-to-do-that-e1544775695361.jpg\" alt=\"Trade Crypto And Stocks \/ Forex - How To Do That\" width=\"800\" height=\"600\" \/><br \/>\n<span style=\"font-weight: 400;\">The first trade should be like a selection of a school.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">You\u2019ll need to decide on the kind of assets or securities you want to trade. After that, you\u2019ll need to make is choosing the right broker or brokerage firm through which you\u2019ll access the markets.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">That&#8217;s very important because the broker you choose will have a direct influence on securities you\u2019ll be able to trade. Also, on the tools, you\u2019ll have at your disposal. On how much you\u2019ll pay in fees. Hence, what final returns you can expect on your trades.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">You have to find a broker that would charge relatively low fees and provide you with a full package of resources to make your trading experience easier.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">And you have to choose the <a href=\"https:\/\/traders-paradise.com\/magazine\/2018\/09\/first-trading-strategy\">right strategy<\/a>.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/#FEW_WORDS_ABOUT_TRADING_STRATEGIES\" >FEW WORDS ABOUT TRADING STRATEGIES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/#THERE_ARE_SOME_OF_THEM\" >THERE ARE SOME OF THEM:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/#The_first_trade_isnt_like_a_first_love_it_is_more_about_how_to_choose_the_best_school\" >The first trade isn&#8217;t like a first love, it is more about how to choose the best school<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"FEW_WORDS_ABOUT_TRADING_STRATEGIES\"><\/span><b>FEW WORDS ABOUT TRADING STRATEGIES<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The main difference between trading and investments is that a trader seeks out market movements for profit.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">On the other hand, an investor waits to profit from long-term price movements in the assets in their portfolio.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A trader will make tens or hundreds of trades within a week while an investor will buy and hold an asset for months or years.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The first step in creating your trading strategy is to have a trading plan.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4931\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/the-first-trade-how-to-make-it-2-e1545838047977.jpg\" alt=\"The First Trade - How To Make It 1\" width=\"800\" height=\"473\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The trading plan is like writing a business plan for some entrepreneur. A<\/span><a href=\"http:\/\/traders-paradise.com\/magazine\/2018\/06\/how-to-follow-your-trading-portfolio-and-act-like-a-pro-fast-and-smart\"><span style=\"font-weight: 400;\"> trading plan<\/span><\/a><span style=\"font-weight: 400;\"> will help you to make a realistic decision in periods of rapid market movement when your emotions might lead you to make impulsive decisions. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The trading strategy should include specific goals such as: getting out of debt, retiring early, making your first million.<\/span><br \/>\n<span style=\"font-weight: 400;\">Also, your trading <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/03\/trading-with-success-guide-for-beginners\/\">strategy<\/a> should include your <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/01\/diversified-stock-portfolio-2\/\">asset allocation<\/a> and diversification moves. \u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As a beginner, you should not have more than 5% of your trading capital on any single trade. Make sure your trading strategy contains a mix of fundamental analysis of global events, like wars that impact oil prices.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">But also <a href=\"https:\/\/en.wikipedia.org\/wiki\/Technical_analysis\">technical analysis<\/a> like trading rules based on price and volume transformations.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">It is important because you can use this information to determine your entry into trades, your exit when the trade goes your way, and your escape when the trade goes against your plans.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">For you, your best interest is to develop the disciple to incorporate stop\/limit loss orders into every trade you place.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">New traders can use technology to lower the entry barriers to trading by automating many of the activities.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"THERE_ARE_SOME_OF_THEM\"><\/span><b>THERE ARE SOME OF THEM:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><b><i>* Trading bots<\/i><\/b><span style=\"font-weight: 400;\"> &#8211; This is simply computer programs with instructions based on a predetermined set of market indicators and parameters.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">You can use automated trading systems to trade stocks, options, futures, and foreign exchange products.<\/span><\/p>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4932 size-full\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-3-e1545838103273.jpg\" alt=\"Trading bots\" width=\"800\" height=\"490\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-3-e1545838103273.jpg 800w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-3-e1545838103273-300x184.jpg 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-3-e1545838103273-768x470.jpg 768w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-3-e1545838103273-370x227.jpg 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-3-e1545838103273-760x466.jpg 760w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-3-e1545838103273-424x260.jpg 424w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><br \/>\n<span style=\"font-weight: 400;\">It is based on a predefined set of rules, which determine when to enter an order, when to exit a position and how much money to invest in each trading product.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Trading bots are especially helpful to beginner traders and sometimes, a bot can be an important market ally for reducing your losses.<\/span><\/p>\n<p style=\"text-align: justify;\"><b><i>* Stock screeners<\/i><\/b><span style=\"font-weight: 400;\"> &#8211; That can help you filter the stocks in the market to narrow down potential winners before their big breaks.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4933\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/the-first-trade-how-to-make-it-4-e1545838203400.jpg\" alt=\"The First Trade - How To Make It 3\" width=\"800\" height=\"331\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">It will help you identify top gainers and losers, stocks on turbo momentum, and stocks that are about to break out above resistance or break down below support lines.<\/span><\/p>\n<p style=\"text-align: justify;\"><b><i>* Social trading<\/i><\/b><span style=\"font-weight: 400;\"> &#8211; This is simply a type of trading in which traders rely on user-generated financial content, collected from a variety of networks. <\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4934 size-full\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-5.jpg\" alt=\"Social trading\" width=\"740\" height=\"299\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-5.jpg 740w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-5-300x121.jpg 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-5-370x150.jpg 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/the-first-trade-how-to-make-it-5-424x171.jpg 424w\" sizes=\"auto, (max-width: 740px) 100vw, 740px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Social trading provides you the platform to be part of a community of successful traders and you can purify the wisdom of the crowd and make you able to make your own trading decisions.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"The_first_trade_isnt_like_a_first_love_it_is_more_about_how_to_choose_the_best_school\"><\/span>The first trade isn&#8217;t like a first love, it is more about how to choose the best school<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Always use a <\/span><b>trading plan<\/b><span style=\"font-weight: 400;\">, don&#8217;t underestimating the importance of a trading journal, change trading strategy after every trade.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Test your trading skills on<\/span> <b>FREE DEMO ACCOUNT<\/b><span style=\"font-weight: 400;\"> in a virtual environment before you start risking your own money.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Practice trading strategies so that when you&#8217;re ready to enter the real market, you&#8217;ve had the practice you need.<\/span><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/money-risk-trading\/\"><b>Risk Disclosure (read carefully!)<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2 min read The first trade should be like a selection of a school. You\u2019ll need to decide on the kind of assets or securities you want to trade. After that, you\u2019ll need to make is choosing the right broker or brokerage firm through which you\u2019ll access the markets. That&#8217;s very important because the broker [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":14863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1017,1012],"tags":[682,104],"class_list":["post-4929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-how-to-start-trading-beginners","category-traders-secrets","tag-first-trade","tag-trading"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The First Trade - How To Make It - Traders-Paradise<\/title>\n<meta name=\"description\" content=\"The first trade should be like a selection of a school.You\u2019ll need to decide on the kind of assets or securities you want to trade.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The First Trade - How To Make It - Traders-Paradise\" \/>\n<meta property=\"og:description\" content=\"The first trade should be like a selection of a school.You\u2019ll need to decide on the kind of assets or securities you want to trade.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/\" \/>\n<meta property=\"og:site_name\" content=\"Traders-Paradise\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradersParadisecom\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-26T15:45:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-09T11:02:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/12\/hndsk1500.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Traders_Paradis\" \/>\n<meta name=\"twitter:site\" content=\"@Traders_Paradis\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2018\/12\/first-trade\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#\/schema\/person\/ce94bb3c5a52307ca7be58f0e7b93ffe\"},\"headline\":\"The First Trade &#8211; 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