Key place to start is to work out what you are willing to lose and then to understand your risk/reward appetite. The cardinal sin in trading is risking more than you can afford, a problem which is more likely to occur if you have a few wins early and get over confident.

Next, have a clear plan of when to take your wins and when to cut your losses. It is often tempting to just let losses run but it rarely works out well.

Finally, work out how and where you are going to play. There are a few ways to do it, specifically with or without leverage (a few different platforms offer leverage, including ours, but even these work in different ways (we have no margin calls and capped losses for example)) and using only longs or going both long and short.

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