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New Year’s resolutions don’t have to mean pain and deprivation. If hitting the gym more and eating or drinking less don’t appeal, there are much more interesting alternatives available. With that in mind, here are five New Year’s resolutions from Evdokia Pitsillidou, director of risk management at forex and CFD broker easyMarkets.
'We want 2017 to be the year that everyone can test out their skills as a trader and find out if making money through trading can revolutionise their personal finances,' explains Pitsillidou. 'We’re constantly looking for new and innovative ways to democratise trading. Being able to improve your finances through trading shouldn’t be an avenue open only to the chosen few.'
Jumping headlong into trading without knowing what you’re doing probably isn’t the most sensible of plans. As Pitsillidou observes, 'Taking a studied approach and using resources such as the easyMarkets Learn Centre is much more likely to result in outcomes that are beneficial to your cash-flow! So resolve to learn the basics before plunging into trading in order to maximise your effectiveness.'
When trying anything for the first time, a cautious approach is always good. To empower those new to trading to proceed with caution, easyMarkets has introduced the dealCancellation tool. This innovative produce allows traders to cancel a losing deal within 60 minutes of making it – perfect for those still learning the ropes and wanting an extra layer of risk mitigation at their disposal.
Global markets have never been more sensitive to political happenings, so keeping abreast of the news is essential for anyone who plans to take up trading in 2017. The unfolding of the Brexit process in particular is likely to be of keen interest to those looking to trade currency pairs over the months ahead.
It’s not just politicians who can create headaches (and opportunities) for traders. Everything from weather patterns to shifting global consumption patterns can impact on the price of commodities and the value of currencies. As Pitsillidou points out, 'You really do have to keep your finger on the global pulse if you’re serious about trading. Of course, you’re not alone.
'We provide detailed market news reports and real-time trading charts to share our expert knowledge with all those who want to profit from trading, whether they’re old hands or complete newbies. This is knowledge that we want everyone to be able to use to their own advantage.'
Risk warning: Forward Rate Agreements, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you understand fully the risks involved and do not invest money you cannot afford to lose. easyMarkets' group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd- CySEC, License Number 079/07), which has been passported in the European Union through the MiFID Directive and in Australia by ASIC (Easy Markets Pty Ltd -AFS license No. 246566).