vendredi , 19 janvier 2018

Making your first trade in Forex market

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  • Auteur
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  • #1990

    sandysr
    Participant

    When you are trading in Forex, you should know that trading in Forex market is easy. You can make money if you are following the right strategy. Many traders make this mistake and they try to use some strategy which is complex in Forex. If you are thinking that you can trade in Forex, you need to know about placing your first trades. You can tell a lot from the market and also get inspiration n if you are making good money at first. You will lose some money but it is normal. Traders in Forex should focus on their first trade very important as it is the beginning of their career. In our article, we will talk about how traders should plan their first trade. It varies from traders to traders and you should have some plan which is of your own.

    As a new trader, you have a lot to learn from the Singaporean traders. They are very good at managing their trades. It’s not like that they don’t have any losing trades but it’s how well they manage their loss. Majority of the retail traders don’t know the perfect way to manage their losing trades thus blow their entire trading account. If you placing your first trade in the Forex market then you should never place your trade in the real account. Try to develop a solid trading system using a demo account since you don’t have to lose any real money. Once you gain strong confidence with your demo trading performance starts trading the live assets with proper money management.

    Be confident
    Do not get nervous in your first trades. It is not something rocket science which is out of your knowledge. Trading in Forex can be profitable if you follow some basic rules. These rules are very simple and traders cannot follow them as the4y become greedy when they see the money in Forex. If you think that you may misinterpret the market trend, do not be afraid. It is normal for traders. The hardest thing to do in Forex is making that first trade and you should be confident in that trade.

    You need to have proper knowledge about the technical section of Forex. The expert can easily identify the profitable trade setup in their online trading platform and assess the risk exposure for that certain trade. Always remember that higher risk-reward ratio is the key success in the financial industry. So if you think that you will be able to survive with 1:1 risk reward system then you are making a big mistake. Simply follow 1:2 risk reward ratio then you will never blow your trading account. Some traders often consider the money management as the Holy Grail in Forex trading industry. Learn to embrace the losing trades and profit will come to you automatically.

    Let it play in the market
    Do not try to close your trades early in the market. Many traders try to close their trade when the market trend is going down or it is going against their trade. It is a normal cycle for the market trend. You cannot expect the market trend to be in your favor always. If you think that you are going to lose money when you will place your first trades, place that trade in your demo accounts. All brokers offer demo accounts to their traders and if you can use the demo accounts, you can see the live result of that trade in your market. The only difference is you will not be making money and you will also not be losing money.

    Do not be disappointed if you lost your first trades
    If you lost your first trades, do not be disappointed. It is normal for traders to lose their first trade. Pull yourself together and you will be making good money in Forex.

  • Auteur
    Articles
  • #1990

    sandysr
    Participant
    • Différé

    When you are trading in Forex, you should know that trading in Forex market is easy. You can make money if you are following the right strategy. Many traders make this mistake and they try to use some strategy which is complex in Forex. If you are thinking that you can trade in Forex, you need to know about placing your first trades. You can tell a lot from the market and also get inspiration n if you are making good money at first. You will lose some money but it is normal. Traders in Forex should focus on their first trade very important as it is the beginning of their career. In our article, we will talk about how traders should plan their first trade. It varies from traders to traders and you should have some plan which is of your own.

    As a new trader, you have a lot to learn from the Singaporean traders. They are very good at managing their trades. It’s not like that they don’t have any losing trades but it’s how well they manage their loss. Majority of the retail traders don’t know the perfect way to manage their losing trades thus blow their entire trading account. If you placing your first trade in the Forex market then you should never place your trade in the real account. Try to develop a solid trading system using a demo account since you don’t have to lose any real money. Once you gain strong confidence with your demo trading performance starts trading the live assets with proper money management.

    Be confident
    Do not get nervous in your first trades. It is not something rocket science which is out of your knowledge. Trading in Forex can be profitable if you follow some basic rules. These rules are very simple and traders cannot follow them as the4y become greedy when they see the money in Forex. If you think that you may misinterpret the market trend, do not be afraid. It is normal for traders. The hardest thing to do in Forex is making that first trade and you should be confident in that trade.

    You need to have proper knowledge about the technical section of Forex. The expert can easily identify the profitable trade setup in their online trading platform and assess the risk exposure for that certain trade. Always remember that higher risk-reward ratio is the key success in the financial industry. So if you think that you will be able to survive with 1:1 risk reward system then you are making a big mistake. Simply follow 1:2 risk reward ratio then you will never blow your trading account. Some traders often consider the money management as the Holy Grail in Forex trading industry. Learn to embrace the losing trades and profit will come to you automatically.

    Let it play in the market
    Do not try to close your trades early in the market. Many traders try to close their trade when the market trend is going down or it is going against their trade. It is a normal cycle for the market trend. You cannot expect the market trend to be in your favor always. If you think that you are going to lose money when you will place your first trades, place that trade in your demo accounts. All brokers offer demo accounts to their traders and if you can use the demo accounts, you can see the live result of that trade in your market. The only difference is you will not be making money and you will also not be losing money.

    Do not be disappointed if you lost your first trades
    If you lost your first trades, do not be disappointed. It is normal for traders to lose their first trade. Pull yourself together and you will be making good money in Forex.

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