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Tips for beginners - what to define for yourself and how to get started in Forex?
Successful work on the foreign exchange market involves the use of a well-organized and a program as the current situation on Forex. With the help of trading program traders determine the risks of possible financial losses and the estimated yield. Let's say you have 20 thousand dollars in margin Deposit, you can open 10 lots at once. In this case you risk 70 per cent of their money. Many compare work on Forex with the game of roulette, however, is not entirely true. After all, you can at any time to close a losing position for you and not lose everything. Most importantly, you must clearly understand, what is the limit of losses that you can afford to be. In other words, you can follow the status of your positions and not lose all your money, taking one wrong decision.
What is the amount of acceptable loss depends on the tactics of trading, as well as the time of opening the position. You can enjoy money short positions (another couple hours), long – weeks, or mid – days.
For example, you want to make money on short positions. Daily movement of currencies in the range of 50-100 pips will make your profits more than real. Short positions are less risky. So, before you start trading, you need to decide what the maximum amount of risk.
If you do not want to risk real funds, you can open a demo account. What you get this way? You should start with the fact that you can work out for themselves a certain program. You will learn about what the dollar in the Forex market, what currency is used on this exchange and how do I the whole process of transactions. The obvious advantage of such an account is that you will not lose your money anyway, but will gain knowledge and experience. Agree that for those who can not even imagine what the dollar on the online Forex and what is trading platform the foreign exchange market, it means a lot. To open a demo account you can at any time convenient to you, for example, via the Internet.
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| Category: Forex | Added by: (30.10.2017)
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| Views: 266
| Rating: 0.0/0 |
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