Whether a beginner or not, learning the secrets of trading is a valuable information when one wants to succeed in this field. While trading is not that simple, it doesn’t take a genius to learn the science behind this. There are many ways to succeed in this business and one of it revolves around 70 trades. If you’re interested, here’s what you need to know about the 70 trades theory and its basic strategies to start earning:
Like the other trading avenues, the 70 trades site is a dedicated platform where traders, whether new or old, gather to learn the ways and strategies of trading. The only difference is that 70 trades actually give importance to the number 70. Before we delve deeper into this theory, the basics need to be practiced to start earning in this field, so keep these mind:
Train and Learn the Fundamentals
First of all, when you enter this business, you’ll need all the training that you can get. According to 70 trades user’s opinion, training is needed so as to acquire skills and learn the basic know-how of trading.
One way to do this is by trying virtual trading simulators, watching videos, and reading online. Also, if you prefer, you can enroll in a trading class. You can find a lot of these courses online or in schools.
Study the Trading Markets
You will never be a successful trader if you don’t know what’s going on in the trading world. In time, you’ll get the hang of the changes in the flow of the trading field like forex or futures market. However, this doesn’t happen overnight. Experience is the best teacher, so explore as much as you can. If you’re interested in the rule of 70 in trading, you can start your exploration at 70 trades itself.
Of course, nothing could support your studies more than practice. As they say, practice makes perfect. So, if you want to be an ideal trader, you’ll have to exercise these learnings through a demo trading. If you feel confident enough, you can also try an actual trading session. Sometimes, the best learning comes from making mistakes, so don’t be afraid to fail.
Control your Feelings
Especially when you’re new, raw feelings emerge when you’re trading. While there is nothing wrong with emotions, not being able to control them is crucial. Feelings play an essential role when you’re trading. Being overly confident, angry, or fearful can hamper your chances of success. Thus, keep a steady state.
One good way of controlling your emotions is mindfulness and acceptance. Regardless of the results, keep it neutral at all times. This helps you decide and think clearly when the time arises.
Choose an Initial Platform
Because you’re learning the 70 trades theory, you can choose this platform as your initial trading stage. This is the part where you’ll have to undergo live trades. To help you start, their site has a lot of training guides and strategies for a successful trade.
You can also check out their 70 trades review. Knowing what the people think about this platform and reading their experiences can help you identify possible risks once you start trading.
The Science Behind The 70 Trades Theory
Since the beginning, this approach has been followed by the site. Traders call this the 70 trades strategy. Following this method allows traders to flexibly operate in the market. There is no secret behind this and is actually simple to comprehend.
The number 70 is considered to be the holy grail in trading. It’s the average number of trades that a new investor makes before making it big in the trading field. The 70 trades theory is the estimation of the years needed for a specific variable to double. For this to be estimated, the number 70 is divided by the growth rate of the said variable. Most of the time, this rule is used together with an annual compound interest rate, making it one of the fastest and easiest ways to determine how long a trader reaches his ROI or doubles his investments.
If you want to see how much you’re going to exponentially grow, the rule of 70 will give you an estimation. Although it’s not a precise estimation, this method will guide you when you’re trading. The science behind trading is through a sequential set of equation that works universally just like the how 70 trades theory works. If you put this to use, you’ll surely have a higher chance of succeeding in the trading market.