In order to offset the risk of losses, following the best trading strategy is essential, there are many trading tips that can help you throughout the trading process, here are the top 10 trading tips for beginners:

1. Learn the basics first

If you are a beginner, you must understand many important aspects of the market. For example, when is the best time to trade? What causes volatility in financial markets? What types of orders do you have? What are the terms used in trading? The more you know about the market, the healthier your risk profile will be, and remember not to jump into the market without prior trading knowledge.

2. Planning

"Good luck is what happens when chance meets plan." -- Thomas Edison

Every trader should have a well-structured trading plan that guides traders through the daily fluctuations of the market. If trading becomes volatile, for example, a good trading plan can mitigate losses and keep you calm when trading swings (the plan should include profit goals, methods, and risk tolerance strategies). Every mistake most traders make today is the result of not having a plan or not following a plan.

3. Manage risk

"Rule number one: Never lose money; Rule number two: Never forget rule number one." -- Warren Buffett

Losses are part of the deal. Don't take too much risk on any single trade, and use a stop loss strategy in the first place. Stop-loss orders can help you reduce your losses and also allow you to choose the price at which you automatically stop your position. However, you must place your stop-loss order "safe" from the entry price. If they are placed too close together, they can be stopped before the market has a chance to move in a favorable direction.

4. Don't underestimate the market

Every good trader should be able to handle losses. The difference between a successful trade and a failed one is knowing how to handle losses. Whether we choose to accept it or not, losses are an integral part of trading. Always be prepared for market volatility, and if the market does not change direction, exit any positions to reduce losses.

5. Diversify your investments

The most important thing to remember here is that some assets influence each other, so it is best to diversify between different asset classes (such as stocks, commodities, indices, etc.) and even within the asset class itself. While the logic behind diversification is like "don't put all your eggs in one basket," keeping your investments diversified will also help you manage your losses in case one stock brings losses.

6. Be patient and disciplined

Traders also need to be patient when trading, and unfortunately most people lack patience, especially when it comes to money. If you're trying to double your account every week is a risky endeavor, doing so multiplies the risk.

Making consistent profits in trading takes time and effort, and there are no shortcuts to becoming a good trader. Therefore, once you have a trading plan in place, be patient and follow your rules, but patience is not doing nothing, but doing the right thing at the right time.

7. Control your emotions

"If you can't control your emotions, you can't control your money." -- Warren Buffett

Sometimes, even experienced professionals with advanced tools are unable to predict market movements, in which case emotions will drive you to take negative actions, and to ensure that you don't let this happen, you can't have too many emotions so that you will make adequate choices. Take the time to get to know them.

8. There are entry and exit rules

There is no such thing as a "perfect entry and exit." Only stick to the planned entry and exit parameters. If you start thinking, "Maybe I should see if this works," think again. Hold the line. Because exit strategies are based not only on your personal goals, but also on overall market trends; This will minimize your losses, and you can recoup your gains once you reach the specified goal.

9. Take some of the profits

If you want to trade further after making a profit, it's time to take a portion of the profit. Try to book a profit of at least 50% of your desired revenue level. At a further level, another 25% of the profits can be booked, and then the remaining profits can be booked. This will not only reduce your risk, but also greatly increase your profit.

10. Stay up to date

The world is changing rapidly, and new events can cause explosive volatility in the markets. In order to be successful in trading, it is also necessary to be aware of the latest events affecting the market, the latest stock market quotes and other things related to the market.

For example, when important events appear on the economic calendar, it will help you to trade in the future, perhaps you will think carefully about whether to book the product, or under what circumstances to protect the profits of the product you are trading, and any products that you think may be affected. It is important for short-term traders to keep an eye on the market and any real-time news developments.