KUALA LUMPUR, MALAYSIA -
Media OutReach Newswire
- 25 October 2024 - In trading, as in many other spheres of life, minor
incremental changes lead to substantial differences. In many cases,
traders don't have to come up with innovative approaches to improve
their financial outcomes. It may suffice for them to apply the everyday
life hacks they have used for ages in their trading.
Octa,
a global broker since 2011, highlights some of the most basic everyday
habits that can be positively translated into better trading results.
The choice that matters
More often than not, avoiding the ‘buy cheap, buy twice' trap and opting
for higher-quality items, be it clothing, furniture, or household
appliances, may result in greater overall value. With time, the item's
superior longevity will overshadow higher initial expenses. For example,
a costly pair of shoes can end up cheaper than a more affordable option
offered by a fast fashion brand if taken at its per-wear price instead
of the initial investment value. Meanwhile, the higher quality the buyer
will enjoy throughout the item's lifecycle may become a minor detail
that brightens up their mood and even makes their life a little better.
In the same vein, traders should not approach the choice of a financial
broker too lightly. The more you know about your broker, the better. For
example, global brokers are exposed to a broad variety of international
security and operational standards and follow the best practices to
comply with strict regulatory requirements. This allows them to offer
better trading conditions in terms of capital and personal data security
and operation transparency. A global broker with extensive experience
in the markets, Octa accommodates all types of traders by offering
diverse leverage options and no-swap accounts for those inclined to
avoid interest in trading.
When a little goes a long way
Those starting their journey towards healthier lifestyles to look and
feel better often find themselves disappointed by the initial results.
Days come and go, but progress doesn't show. The reason is simple: more
often than not, several weeks will pass before the dedicated effort
translates into visible transformations. Changes take time, and
incremental improvements will eventually add up to significant progress.
Similarly, choosing a broker with tight spreads and low commissions may
not yield immediate gains but will have a considerable long-term impact
on traders' outcomes. Even though the differences in fees between
brokers may seem small at first glance, they will add up over time,
leading to visible profits for those who opted for better trading
conditions. This is especially relevant for those preferring intraday or
scalping trading since, in this case, the spread value is multiplied by
hundreds of daily trades. For traders interested in minimising their
costs, Octa, a broker with globally recognised licenses, offers some of
the lowest spreads in the market and zero commissions for all regions.
When time-efficiency is king
In the modern world, the high intensity and frenzied rhythm of everyday
life make it instrumental for all, regardless of occupation, to approach
routine tasks efficiently and maximise the use of resources at hand.
Smart time management, in particular, allows people to prioritize
important tasks, reduce stress, and increase efficiency. By having a
strict daily routine, focusing on high-priority activities, and
eliminating distractions, highly efficient individuals achieve more in
less time. In addition to that, research
shows
that avoiding multitasking and performing tasks one by one in order of
priority can contribute to better performance and less fatigue.
In trading, high order execution speed and quick, efficient, and
transparent deposits and withdrawals are crucial for enabling positive
interactions between traders and brokers. A broker that offers fast
execution and low latency ensures that orders are placed at the best
available price, with minimal slippage.
By choosing a broker with fast withdrawals, traders can save a
significant amount of cognitive effort and maximise their chances of
entering and exiting trades at their desired prices. This principle
works in a similar fashion to how time management helps individuals
efficiently achieve their goals.
There are many parallels between choosing a financial broker with
superior trading conditions and making smart, goal-focused choices in
everyday life. Whereas in the short term, the results of the correct
choice may not be obvious, the outcomes over a more extended period will
inevitably accumulate, highlighting the real value of the conscious and
informed decision.