Whether an experienced trader or a beginner there are simple procedure that do not change. Over and over the same path will be used when doing that specific task. For trader who want to open a trade the same procedures are followed when opening a trade/deal.

Once a suitable trading platform is established and decided to use it for trading, then guides will be necessary to guide on how to go about it.

The following are general guides on how a trader may use to open a trade/deal: 

1. Load your account with funds. 

   Choose the currency to primarily trade in and load it to your account - Base currency. Currency range from 

       - $ - US Dollar

       - ¥ - Yen 

       - € - Euro

       - £ - Sterling Pound and more

2. Choose an asset to trade.

   From the available assets offered by the trading platform, choose the most appropriate asset to open a trade on. Assets offered range from stocks, Binary, EFTs, Forex and so on.   

3. Choose the quantity to open a trade. 

   This are measured in lots. The lot size measure ranges differently from one trading platform to another. Most offer as 0.001 lots, 0.01 lots, 0.1 lots and so on.

4. Go long or Go short.

   Predict on which way the market will follow. By going long(Buy) asset on trade will raise in prices. Going short (Sell) asset on trade will fall in prices.

5. Decide when to close the trade.

   By this the trade will be closed once a decision as been made by the trader. The decision made will be based satisfaction and dissatisfaction of the opened trade.


On many platforms they offer trade management tools. This tools come in handy when managing a trade when loses are starting to accumulate and to prevent large account funds looses, a trader may set stop loss level target.