Forex Tutorial Tips 1
Advice from experienced forex traders
A. Accept the possibility of losing their money as an inevitable fact. Every beginning trader should be aware that losses from the foreign exchange market, no one is immune. The basic rule in currency trading is to profit was much greater losses.
Two. To participate in the auction only to a clearly defined plan. Getting to trading, you should determine how much of their own money you are willing to take risks, and for what profit is calculated. This will be your balance of risk and return. Successful traders never enter into trading without a clear understanding of its purpose.
Three. Do not be afraid of the foreign exchange market. Many beginners have excessive concerns about the uncertainties and risks that are present in the Forex market. Anyone who can overcome themselves and get into all directions traders, forex trading really gives unlimited possibilities in terms of increasing their capital.
4. Responsibility for decisions. Successful traders will never give up personal responsibility. You can take into account any advice from experienced traders, but the responsibility for transactions conducted, regardless of their outcome, will only lie to you.
Five. Do not allow greed to overcome you. When the bidding begin to emerge successful traders often forget about the previously assigned to the hope for further successful continuation of his trade. However, the market is very volatile and trends can be quickly terminated. Once the target price is reached, immediately remove the profit or transfer transaction in no loss.
6. The influence of news on trading. The increase in trading volume caused by a loud event that leads to a significant movement in prices. At this point, all the tips of Forex traders are intended to be used in their favor short-term and rapid changes in the market. Inexperienced traders often try to one transaction per day, which promises them a significant profit.
7. Do not fall into the illusion. If an open position plays, it does not stay on the market in the hope that the trend will reverse in the right direction for you. Cover the losing trades, and immediately go to the market.
Eight. Turn off the emotion. The cause of loss is often excessive emotionality and a reluctance to listen to advice. Forex requires a complete shutdown of emotions during the transactions. Consistently put to follow the plan and do not forget to put "feet".
9. The trend is your friend. Trade in the direction of the trend - and your profits will grow.
