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How to Improve Your Trading from Novice to Expert

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The forex market has scaled considerably since the Internet boom of the mid-90s, when the sector boasted an average daily trading volume of $1.2 trillion. This has since increased to more than $6.6 trillion, as the number of traders active in Europe alone has peaked at 1.5 million.

Certainly, a growing number of part-time and aspiring traders are now active in the forex market, with many of these novices aiming to scale their efforts and become experts over time.

But how do you make the successful transition from novice to expert in the market? Here are some key points to keep in mind.

Why Scale Up Your Trading Efforts?

If you’re like most novice traders in the UK, you’ll probably have started out by investing small amounts of capital in your spare time.

However, if you’re one of the 30% or so of forex traders who are able to generate a profit from your investments, you may choose to organically scale your efforts in line with increased returns and the accumulation of experience.

Certainly, transitioning from being a part to a full-time trader can be incredibly rewarding, as this becomes your primary source of income and one that isn’t bound by the hours that you work or your amount of starting capital.

This is thanks in part to the highly leveraged nature of forex trading, which enables investors to open and control disproportionately large positions with a small amount of capital.

How to Scale Up Your Trading Efforts

Once you’ve decided to scale your forex trading efforts, the next step is to consider the best ways to make this an actionable reality. We’ve outlined some of these below:

#1. Make Research a Key Watchword: If you intend to trade more frequently and with greater consistency, you’ll have to engage in thorough market research. You’ll certainly have to invest time into learning new techniques and methodologies, while utilising so-called “demo accounts” to hone experimental strategies in a simulated and risk-free market environment.

#2. Upgrade Your Trading Platform (Where Necessary): This leads us neatly to the importance of having the right trading platform, as you may need to upgrade to access superior analytics and enhanced profits. Certainly, more powerful platforms like the MetaTrader 4 offer access to enhanced analytical tools, while you can also seek out technical indicators that have been tailormade for the purpose of forex trading.

#3. Increase Your Trades and Investment Amount: Obviously, scaling your efforts will require an increased investment, which is why you should only ever look to trade more in line with growing profitability. Similarly, you can strive to scale your efforts in line with experience, so long as you continue to trade actively and maintain a regular order book that helps you to make the most of your starting capital.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Turning Tragedy into Triumph Through Walking With Anthony

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On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

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