Advice to Beginners of Forex. What did you not know yet?

Your success in the market Forex depends only on your experience and emotional stability, the advice to beginners given below will make your way to professionalism less thorny.  

 

1. Study bases First of all it is necessary to acquire fundamental knowledge of the financial markets and the technical analysis, to understand under what laws the market Forex develops and as to earn on it. The trader has to be able to analyze and predict a condition of the market and to be psychologically ready to trade.  

2. You learn as a demo accounts to try to seize Senselessly the required skills, trading on real accounts at once. While you try to master elements — your capital thaws because of the inept address. For working off of strategy and receiving necessary set of knowledge there are educational demos accounts on which it is necessary to train, perhaps, not one month. It is impossible "to ride out" the market rashly.  

  1. Get acquainted with the trader's tools Thoroughly study a trading platform of the broker and all its technical capabilities. In the future it will allow you to save a lot of time and money.  

  1. Study your rights and duties Attentively read the documents governing the relations with your broker, and specify all inexact moments. You have the right to have all completeness of information concerning your cooperation and work in the foreign exchange market.  

  1. Always begin with small as the launch pad you can use accounts of micro forex — estimate the opportunities and develop at the minimum investments.  

  1. You keep tranquility you do not pass the level of psychological comfort — reduce the sums with which you operate if during trade you are abandoned by self-control and confidence.  

  1. Do not play with fire. Forex — not gambling on money. Adventurers in the foreign exchange market long are not late. If you want that work on Forex brought constant and stable income, never go for broke by the principle "or the sir, or was gone". Do not put money which you are not able to afford to lose.  

  1. You learn to accept loss Certain losses — a part of work in the market Forex, take it for granted. Draw conclusions and try to treat it philosophically.  

  1.  Trade within the set limits do not try to open many transactions — you will not be able to follow them. At once successfully to trade in several markets it will not turn out because they are regulated by different independent factors.  

  1.  Keep, but do not try to increase Limit the risks even if it leads to restriction of profit. Your task at the initial stage — to learn not to lose the capital.  

  1. Consider possible risks you have to have a monetary reserve for its use in unusual situations. Analysts advise to invest no more than 50% of the general capital in trade. At the same time it is necessary to make no more than 10% of the available investments in one transaction. Think what part of these means you are ready to lose in case of failure? Establish standard of admissible risk — no more than 5% are desirable. 

  1. Do not forget to use Stop Loss Malmanagement of assets — the main reason for losses. Stoplights serve for prevention of your losses therefore you learn to use them and to find their optimum arrangement.  

  1. Do not come under others influence Construct the own strategy of work and you do not hurry to change it, following others opinion. It is possible to make one transaction a year and to be more successful than those who trade in day. The universal supersystem does not exist, and you are responsible for the capital individually. Having created own representation, do not follow the tastes of others — subsequently you can regret that you listened to councils.  

  1. Control the course of events the Profitable transaction can become unprofitable. If the situation moves in your direction, watch closely open positions, move stoplights to protect the income.  

  1. Do not play against the market Remember that trend is your friend. Some investors invest money when the trend moves in the opposite side, in hope that will manage to receive a profit later. However similar strategy is extremely dangerous to the beginning trader!  

16. Are not sure — step aside If the situation develops not according to your scenario — close positions. You have to understand what occurs in the market because it is blindly unreasonable to work. Do not spend time for unprofitable trade and do not try to return money at once — keep energy. 17. Keep the diary of trade the Diary of trade helps to develop skills of the analysis. Write down why you made that and other decision what consequences it had what conclusions you drew. 


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