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Minimizing Risks In Forex Trading Online - part 1

Forex or foreign exchange trading is a business that can bring huge profits in a short time. But keep in mind, forex trading can also impoverish you in a short time anyway. Therefore, many traders are trying to minimize the risk of trading in many ways but often fail. Here's how to learn to minimize risk in online forex trading.

1. Over Trade.
Excessive trading is very risky, so you need to make a very careful calculation. Calculation question is how many lots you will trade. What is your daily loss limit, 10% of the amount of capital you are good enough. Determine your daily profit target and Discipline in applying it. If the target is met, stop trading, cover your meta trader.

2. Understand the effect of a fundamental news.
Sometimes technical analysis that has been prepared carefully aground granted. Traders who make transactions by relying beritapun several times to be disappointed because the results are not in accordance with the already predicted. So, it is necessary to understand a message that will be announced clearly and find out the impact of the news.

3. Do not depend on others.
It is often the case in some social media. If anyone post the results of the transaction on facebook / forums and seen the results of profit continues, the post will be called as "master". Thus, you will wonder continues, ask signal and even follow the open position made by the master, expect profit from the analysis of others. Instead, use the analysis itself, whatever the outcome. And learn from mistakes when doing analysis (using a demo account). Successful traders are traders who rely on their own abilities, so that he knows, he does an effective analysis or not.

4. Over Confident.
It is often a major impact on trading. Over confident when trading is very dangerous because you do not know what will happen in the market. No one knows, the market will move to where.


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