When it comes to trading on Elite Pips or using its social trading features, we encourage responsible behaviour among all our users. Our “responsible trading policy” calls on traders to protect themselves from emotional decision making that can result in unnecessary losses. Novice traders, in particular, tend to rely more on “gut feelings,” because they don’t necessarily have a lot of experience in financial trading to make rational and informed choices.
To help traders avoid making rash online trading decisions, Elite Pips, in accordance with local financial regulators, recommends the following:
Here are some tips for becoming a more responsible trader:
Traders of all levels can rely too heavily on their emotions while trading. This is a mistake as fear, greed and excitement can play a hand in making bad decisions. Always have a trading plan, and stick to it no matter what happens. When creating your trading plan, incorporate the tips from the section above, paying specific attention to:
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