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All the basic rules of Forex trading
As in any other business, success in the financial market can be achieved only by adhering to certain rules. It is clear that the universal instructions from the first transactions stable profit, but there is a community of traders formed a kind of "secret" code, the rules of which not only significantly reduce training time, but also help to keep the newcomer afloat.
Today I will try to consider in detail the basic rules of Forex trading, and begin, according to tradition, from the base, without the understanding that it is better to forget about the market and not return.
Basic rules of Forex trading
Rule # 1 – Training of trading and testing new strategies must always begin with a demo account. Some traders recommend to open a cent account, they say, is also a real money, so in the process of learning the beginner will start to appreciate, will comply with the risks and operations will be performed on a real account.
First, I have not met people who is serious about their platform nice, on the contrary, many argue on the principle of "lose, well, okay, also my loss." And no matter what the score was opened the first demo or a Nickel, if there is no established strategy with clear entry points/access (as a beginner it is absent by definition), the result will be only one drain.
The second reason I have included in the rules of Forex trading the item, more simply, the fact is that cent account is just a renamed demo account, that is, the execution of transactions on them, most of DC is exactly the same performance on the demo. This is due to the inability of removing all those "cents" on the market, and also with the reluctance of companies to loading the actual server with unnecessary requests.
Rule # 2 – Even if trade brings results, it is impossible to borrow money from friends, neither the Bank nor the broker. Usually, the first success is always false, and after a while all the flaws of the system will come out.
As an example of such a situation can result in the optimization of the system under a certain state of the market:
If the system really brings a decent and stable profit, it is better to open a PAMM-account, which honestly write that this "venture" project. Maybe someone of the experienced investors will be interested, if the rates of return and risk will not attract investment, so there is a system fault, is not credible.
Believe me, when it comes to money, people become very picky and criticize every potentially dangerous flaw, and constructive criticism is a reason to eliminate errors.
The third basic rule trade on Forex – it is impossible to overstate the risks. In General, on the risks of standards as such, does not exist, everything depends on the strategy and the results of its optimization on the demo account or on history.
I optimized the risks the following way – a few years have tested the strategy on history, the benefit of my method is allowed to do it. Then chose the longest series of losing trades, multiplied their number by 3 and divide the result amount of the initial Deposit. In the end, I determined the amount you can lose in a single trade, in this case, if a record series of losses again, the account will be the reserve.
Secondary rules of Forex trading
The second part of "rules and regulations" will be relevant for those traders who have seriously tested trading techniques. Most of the following tips will allow you to avoid wasting time, so here we go:
• Always set a stop-loss or close a trade on a signal, in General, limit a loss. The logic in this case is very simple – if the trade makes a loss, then the prediction was incorrect.
• Forget about martingale in any form – this tactic will destroy the Deposit. For readers who are only familiar with the rules of Forex trading and have not yet developed immunity to the notoriously unprofitable strategies in the figure below I sketched a brief outline of the martingale:
• Do not trade all the instruments at the same time, it is better to choose a few major currency pairs, the movement of which seem logical and understandable, and they work out their system. Especially careful you have to be exotic – Turkish Lira, rupee, etc..
• Don't break themselves, only trade a comfortable timeframe, as srednesrochnoi scalpers will not be the same as the scalper will not be able to hold positions for weeks and months. This is a fact confirmed by several generations, there are exceptions, of course, but it is very rare.
• Do not disdain other people's systems and methods. As practice shows, much can be learned and used to benefit. I have learned this lesson when he came up with what has been known for several years and were in free access.
• Do not join or read discussions on open forums on the current market situation – the local "demo experts" will definitely confuse you. Alternatively, it is possible to communicate in a specialized "closed" resources, to meet the real traders, who carry on their own blogs, etc.
That is, in principle, that's all. I specifically did not bring up a topic like "do not think like everyone else", "think positively," etc., since all these are empty words. If you do not follow the rules above, you will agree, head in the clouds and to feel special, without stops, until the margin call (or worse – stop out).
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| Category: Forex | Added by: (05.11.2017)
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| Views: 339
| Rating: 0.0/0 |
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