You will need to predict the strength of the economy in order to make a worthy decision.
To trade the market you will need to analyze it first before finally making the decision of either executing a buy or a sell order.
Technical analysis is a method of evaluating instruments by analyzing the statistics generated by market activity like historical prices and volume.
Fundamental analysis is information which consists of economic reports and data gathered from governments and institutions around the world and is based on statistics and actual numbers.
Economic reports can give you some guidance into what direction to take. Always keep in mind what you want to achieve in your trading career, and set yourself realistic goals. Think long term and do not be disheartened with losses; practice makes perfect.
When begin your trading journey is to not give into emotions. Panic, greed or excitement can ruin your trading career. Instead, keep a clear mind, choose the strategy that suits you best, and keep your eye on the markets.
Don't invest more than you can handle. Start out with smaller investments to cut down on the risk of heavy losses – it is not imperative to invest a large amount to earn a profit.
Keep track of your trading steps. This is a great way to monitor your successes and failures, in order to see which mistakes have been made. This way you can learn from losses in order to work on a more profitable trading experience.
