Singapore is a country in Southeast Asia that has been rapidly growing because of its natural resources, location, and thriving economy. Singaporeans are known for their trading skills, so it’s no surprise that there are many trading secrets to be found here.
This blog post will discuss the top things you should know about trading in Singapore!
The best way to learn is by doing, so you can use some practical tips to become a better trader.
When entering or exiting a trade, wait for its full price action before taking any actions. Most beginners will immediately take profits at what they think is their target, but more often than not, this gives them away as novice traders who have no patience and just sweep money off the table.
The quicker you do that, the less time there is for your strategy to work, which means more trades are needed in order to break even! So don’t make trading harder than it already is. It doesn’t matter if you’re using an indicator like Bollinger Bands or any other – just wait for the time to come when it reaches your target.
This is common knowledge by now, but always set stop losses and limit orders! Even if you’re trading with a demo account, there’s no excuse not to do this because, basically, every platform that offers trading will allow you to use these tools efficiently.