Most Traders prefer face-to-face contact. Because when trading, you constantly dance on the tightrope between common interest and competitiveness, and that requires great alertness. Therefore, a screen can seem like a stumbling block. But as with most skills, practice makes perfect. We researched a few strategies from Broker.cex.io and listed out five tips, with these tips you can get started and increase your chance of making a good online deal.
Table of Contents
1.) First Determine How You Want To Trade:
During a virtual trade, people are often more task-oriented and go straight to the heart of the matter. This can be a great option in case of teamwork, but a trade will not help you further.
Sometimes trades are interrupted too early because someone feels offended at how they are treated by the other person. So consider in advance how you want to start this trade. Do you want to get to the point right away or discuss the big picture first? Do you use visual elements or just exchange ideas? Make your approach clear before you start the trade.
2.) Don’t Come Immediately With Your Offer:
Don’t try to put your cards on the table right away. Someone who makes the first move can sometimes have an advantage in trading. But that is not to say that you should come up with your offer right away before you say goodbye.
Greet the other person, talk about cows and calves to break the ice, and agree with the other party how you want to use the optimal time. Prepare your first offer well and only come up with it when you have checked in with the other party, the needs are clear and there is agreement on how you can meet those needs. Then you can make a proposal at the right time.
3.) Look At Yourself:
According to a university study, people who communicate virtually and can see their own expressions are more likely to work together than people who do not see themselves. Trading can quickly become competitive. So check your own facial expression and body language. Do not only focus on the other party on the screen but also see how you come across.
4.) Take A Break In Time:
A conversation that lasts is not productive for a trade. During a face-to-face trade, it is easier to take a coffee break. During a video meeting, people often feel that they cannot take a break. A break can be good when you are in the least biased position yourself or when you tend to go into something that you will regret later. In that case, a break can be a crucial breather.
5.) Don’t Beam When You Have A Deal:
A study finds that when one party shows their joy immediately after the trade, the other party feels that the deal is not in his favor. That way, after the trade, the conversations are less generous or the other person tends to get out of the deal. So it is much better to adopt a constructive attitude and show appreciation for the effort of the other and for the course taken together.
This Infographics is shared here after legal permission from Broker.cex.io