If you are new to Forex trading, you need to understand that trading the Forex risk may spend your capital. So before you start Forex transactions, it's good when you understand all the risks involved.
When you are trading the forex market forex, You need in this case the market maker or broker. So it is very important to do your research to the broker before you take off your funds as funding account margin (which is required for the trading).
Regardless of which this brokerage issues seriously, could you lose the funds in your account. Yes, your broker scam ...! Then choose a broker that is trusted and has high accountability.
Other risks that threaten Your trading is a failure. You can run out of funds held by chart. Then I presented below are some tips that you can make it a consideration in Forex transactions.
1. Understand the risks of Forex.
Every investment must contain a risk. You should understand that all the risk. We do not focus on just a tantalizing profit from this trade, but also note the following things:
-If You lack knowledge of the character of the movement of the market a currency, then you will be faced with the risk of losing your money. Try to recognize and learn the first character of the movement of the currency you want the transaction. My advice to newbies is trying to learn the first character of the currency of the USD/JPY. Why? because of my experience, the currency of the USD/JPY it has characters that are smooth, slowly but surely, where his daily movements can be measured between 50-100 pips (points), and if there is a tremendous movement of at least 200-300 pips. For the movement of more than 300 pips is are very rare. When it happens, it can be ascertained due to the existence of Fundamental factors (news) which means a lot, such as the increase in interest rates, natural disasters, the rate of inflation.
-If you're in the position of any market Entry, then you will be dealing with the psychological You own. This can also cause your money drifting. This can be caused because you less conscientious and observant when you enter the Forex market. Carefully and be aware that when you enter the Forex market. Understand very well how to use your Forex software with good and true. Set the number of lots and currency Forex transaction you want to. Take a position on the market in the BUY lowest price and SELL at the market at the highest price (it could you learn to use some of the indicators of the graph).
-If you are in a position against the Forex market. Should You follow a trend that is going on, but on the contrary. Remember! We just took a very potential opportunities in the Forex market, not we who determine the market Forex. So don't even blame the forex market is not friendly with You, but You should adjust the market.
2. Accept responsibility.
You should be ready to accept all the responsibility of your actions in Forex transactions. When you experience an error transaction, you must be prepared to anticipate quickly so that the mistakes that can be improved to be a chance that generate return/profit.
3. Work Smart not Hard Work
All you need is just multiply all information regarding Forex transactions. You can continue to learn all the basic techniques as well as follow-up on the internet as well as from the experiences of the senior Forex Trader you believe. In Forex is no ' honors ', but it is how you can ' survive ' in Forex transactions until your life can be better because of it.
4. KISS (Keep It Simple Stupid).
Set your system that is simple in Forex transactions. A lot of Forex indicators, you just choose which corresponds to the ' style ' of your trading. Simple system is sometimes give better than overnight with his level of complexity that can make you confused.
5. Be Patient.
Be patient and don't rush into a decision your Forex transactions. Forex market movement Up and Down, in this case you can just wait for the right to time entry level attainment target price you can be reached with a maximum of.
6. Use the Leverage that is more realistic.
When you have a capital which is not too big, it's good when you start Forex transactions on Forex brokers who have higher leverage. Because by doing so, meaning you only need a small capital to start Forex transactions. But Remember! with high leverage, indeed your capital be small, but the movement per pointnya is the same. Take heed!
7. Be Realistic!
Well, it's sometimes hard to do by the Forex traders. Don't be afraid to make mistakes or take the loss. Forget your Ego and Make Money! If you've been able to generate a profit of 50% – 100% during a year of your capital, it has become an exceptional thing isn't it? From that experience, slowly you can improve your own profit target. Learn by Process! Learn from your own experience Process because all risk and responsibility is not on the others.
8. Do not invest more than you can afford to take risks!.
Financing Your margin account should only be done with the funds that, if lost, will not significantly impact on the welfare/your finances. This means that the funds used for trading in forex really Fund fresh. Trading on Forex involves a number of risks as well as investing in the stock market. Don't invest your life by forming savings on Forex, especially if you are a novice to trading currencies. A good rule for beginners is to simply invest the amount you can afford and then build the ' wealth ' When You have made Your trading success ...
You should not invest all the money you have to live either in stock or Forex market. What if you need to borrow funds from a bank or borrow it here for. Based on my experience, you will not be successful. Even dare I say You're digging the grave for the fate of your finances. Believe Me ...!
You should not invest all the money you have to live either in stock or Forex market. What if you need to borrow funds from a bank or borrow it here for. Based on my experience, you will not be successful. Even dare I say You're digging the grave for the fate of your finances. Believe Me ...!
Related Posts