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Forex trading: before you start to warm up
If You are not very familiar with the Forex market, then proceed slowly and gradually, and it will help You not only survive, but will also increase the likelihood of Your long-term success.
This gradual trading process will save Your time and money and will allow You to get proper trading education. Will give You four important and useful advice:
1. Waste time on self-education: Even if You can easily and quickly absorbs new knowledge, and You already have some stock of skills and knowledge, however, Your brain needs time to digest all that You have studied. Your education is not only a constant active learning. The acquired knowledge should "fit" in Your head. This will not happen by itself - it takes time.
2. Start with small position sizes: After mastering trading skills on a demo account You jump into the water of the real market. Some aspects of trade in the "real world" will differ from "demo", especially Your emotional reaction to price fluctuations. Don't jump immediately on the "depth", first put in cold water to market only one toe - that is, use small position sizes.Of course, if You're lucky, the first successful jump in the water can support You in the future voyage, but perhaps You should be careful and adhere to tactics of a small volume of transactions, at least early in his trading career.
3. Batch time devoted to the trade: traders-beginners, as a rule, there is another, primary job. And not only work because You have a personal life. Thus, You probably will not have enough time for everything. Dive into Forex trade can be very interesting and stimulating but if it takes all Your free time, then You might be able to even where they in principle impossible.Do not "stick" nose to the screen every spare minute You should get a General idea of the situation on the market, and then to select the most promising at the moment for a couple. Don't overuse too many trades unless you are trading on the principle of "high-frequency trading.
4. Rest from trade: the Weekend has traders interrupted, but this is not always sufficient for full recovery, given the high psycho-emotional activity in the trading process. After performing several operations, some of which You have achieved, and some, quite possibly, lost, You should take a pause and carefully analyze them. Every trader should periodically conduct such analysis, and this is especially important for beginners. You will better control your trading in General and get a clear overall picture of the market.
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| Category: Forex | Added by: (29.10.2017)
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| Views: 365
| Rating: 0.0/0 |
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