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Trade
Recommendations on Forex trading
One of the most popular ways to make extra money is to trade in the Forex market. School already frankly, not easy, but the advantages of the Forex market easily override the difficulties faced by the beginners, for example: the ability to earn money at home in spare time by trading when there is the opportunity to work without bosses and so on.
Recommendations Forex - tips of an experienced trader for beginners to make first steps in the development of the market and not lose money. For beginners guidance will save time, money and certainly nerves.
Experience plays a role, but because if you seriously decided to take on the foreign exchange market, you should take into account the advice of a man who has long been involved in trading. The application of the recommendations will probably reduce the training period and reduce the losses faced by almost all beginners in the beginning of its work.
Advice for beginners in Forex
Work only with trusted brokers it is pointless to trade in your organization, or which will not give a profit, or will give bad and unfavourable trade conditions. From what kind of company You choose depends on the end result of the work on Forex. It is better to open an account in serious organizations (can make use of a rating of brokers).
Learn MM - money management beginners in the foreign exchange market is constantly violated, as people may simply not know what it is all about. This is manifested in the trading process, when the person enters into agreements in the market a very large volume. Any drawdown in trading leads in this case to serious losses.
Theoretical training - be sure to take the time of theory before you start working on the market with real money. To make transactions using your capital, You still need time, but first time on a theory that Forex is a necessary stage of market research (I recommend the free tutorial on Forex).
Trade with the trend - to start is to trade in the market only in the direction of the trend. When a person gains experience, increases the stock of knowledge about Forex, it can change your trading style, choosing even the most exotic options and succeed. But for a beginner it would be more efficient to start with the simplest options trade with the trend during the day and not the evening or at night when the market becomes much calmer.
Use of the trading system yet experience in the market, it would be better to use the result of the labor of others. Trading system of which it is possible to find quite a few, will help the speculator to understand the correct approach to trading. This is a good opportunity to base their future system developments more experienced colleagues.
Limit losses - do not let losses grow. This can be used by various tools, for example, standard terminal Stop Loss order, trailing stop and so on. These tools help to "chop off" the losses at the unsuccessful conclusion of the transaction is very rapidly growing. To expect the market will return to the point of position opening, does not follow, as after several successful exits from the drawdown with the expectation that there will come a time when the price will go so far away from our transactions, from the account there is nothing left.
If I were to summarize all of the above, then do not rush immediately to trading with real money, because numerous cases show losses in this approach to trading. It's advisable not to rush and first to prepare theoretically, to gain experience on a demo account, and then to take up a real account.
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| Category: Forex | Added by: (06.11.2017)
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| Views: 279
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