Investing in the stock market does not always mean anxiety and stress of losing the moment you open a trade. By choosing the right platform, you can increase your chances of success. Most importantly, you will avoid significant losses. Indeed, today’s brokers offer apps with features that help you invest well. You just have to choose them right so that losses do not become part of your worries while you’re trading. In this article, we teach you how to choose a trading application to avoid losses and increase your chances of making a profit.
Choose the best app for Day Trading
Day trading is a trading strategy that involves setting positions for a very short period of time in the financial markets. It is a strategy that takes advantage of market volatility by seizing the right opportunities for gains that arise. By using this way of trading, it is sure that you will increase your chances of success. Moreover, Day trading is well suited to beginners. So, by choosing a broker with a trading app that makes applying day trading easy, you won’t have to worry about losing money by trading.
Among the best trading apps of the moment to practice day trading, there is the broker eToro. eToro is just the simplest and most intuitive trading platform of the moment. In addition, this platform allows you to do Copy Trading which consists of copying an investor’s trading strategy you can experiment to maximize your chances of winning. Also, there are 67% of retail CFD accounts on eToro that lose money. This is the lowest rate compared to other trading platforms. In short, eToro is the right trading app for beginning traders who want to avoid losing money.
To learn more about this broker, we invite you to read this eToro app review. You can find all the information you need about the platform and the benefits of subscribing to the platform.
Go for a trading app with guaranteed Stop Loss
If you are looking to trade with confidence without fear of loss, choose trading platforms that provide a stop loss. As its name suggests, stop loss is a trading tool which is used to avoid losses when the market moves against the trader. In fact, stop loss is an order that automatically activates when a predefined threshold is exceeded. This acts as a point of no return that avoids ruin to the trader. Without guaranteed stop loss, you won’t have anything to protect your capital if the market suddenly drops. So we invite you to use the trading apps which provide this feature.
However, despite its effectiveness, stop loss must be placed strategically. Nevertheless, this is something which is not always obvious when we start our trading adventure. In order to place a stop loss the right way, you need experience, which you can acquire over time. Then, the more you practise, the more you get experience to place it right. Therefore, feel free to start trading using a demo account on your trading app. A demo account is somehow a trial version of a current trading account in which you use no real money. Using it is a good way for you to get used to the trading routine and avoid losing money.