Trading futures successfully is about avoiding mistakes and minimizing your risk. You must learn to manage your emotions if you want to be a successful futures trader. If you don’t manage your emotions effectively, you run the risk that they’ll eventually get the better of you.
It’s natural to feel fear if you hear bad news about the markets or think it’s worth hanging onto a position to wring a few more dollars out of it. But basing trading decisions on these feelings is a sure-fire route to losing money. To successfully day trade futures online, stick to your plan, and leave the emotions out of it.
Moreover, if you’re trading longer-term, you should always have a stop-loss in place for every trade. Unless you’re superhuman, it’s impossible to monitor the markets at all times, 24/7.
A stop-loss will mean that even if the markets perform unexpectedly, you won’t be stuck in a losing position while you’re asleep. Top futures traders always keep an eye on the big picture and stay abreast of the news, however. Make sure you hone your analytical skills, learn to read charts and use technical tools. If you incorporate all this into your trading plan, you’ll start to see more good days than bad ones.
Only DGTX holders will be able to trade on the Digitex Futures exchange, as all trades will be denominated in DGTX tokens. You can buy tokens from one of our exchange partners, or via the Digitex Treasury. Buying from the Treasury is trustless and instant, meaning there’s no price slippage.
Cryptrader brought out a beginners video for Digitex here.