Thread: Before you start trading.
Before trading we must learn first and read books and search internet for Forex trading tutorials to learn more and more then we should open demo account to practice in it and test the new strategies tell we find good strategy to earn from it then we can open real account and earn real money.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Leonaforex made a great comment in Post # 295
For my trades, I trade 3% of my account at any time, until 3 trades in a row are winners.
I then increase to 4.5% of my account.
One loss reverts to 3%.
Two losses reverts to 1.5%.
Three or more go to 1% of account and stay there until you figure out what you were missing.
Once you have achieved 2 wins in row again, go to 3% of your account.
Again - before going live with this, run the backtests for the trade methodology and then plug in different money management approaches and see how the drawdowns affect your account and how quickly you recover. Many folks use a fixed 2% max and this is pretty safe.
Here is something that I read on another thread:
You should classify any contemplated trade into one of the following five categories before putting on a position:
a. Entrance into congestion
b. A trade within a congestion
c. A breakout from a congestion area
d. A trend run
e. Trend reversal
The trader will have difficulty in formulating a successful and intelligent risk/reward (entry/exit) plan unless the trade is properly categorized before the trade is taken. The risk/reward parameters are different for each of the five types of trades.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
I was see the news before start trading. it was very important, because as i know, the big player is giving entry to market with signal from news. we are know if big player is very important to identified. if we are do not know when the big player will show up, we will get serious problem, because we will get great floating if we are trade opposite from their position. I know if news is something is used by big player to entry to market.Originally Posted by anmb
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
News is important on Forex. Specially, news about economy periodic statistics and indexs is greatly effect. Everyone must waiting a news to action
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Before I trade I analyze the trade in many ways.I thought about their economy.I saw their trading history.Then I start my trade and I watch the Forex market.Analyze is very important.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
When you have to enter in the forex market you must have to know about the tools that you will be need for the forex trading you must have to familarise with these tools so that when you trade on the real account you will not get any difficulty in your trading.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
To begin trade, at first open a demo a/c. Learn about tools and forex kits as pip, leverage, st, tp etc. Impatience mind will not help u. U can read reviews & other trader's discussions on trade. It is helpful.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
physical condition can also be something that we should pay attention to simply because when we are not really in a wholesome condition we are prone to incorrect decision. that's the reason we must eat well and then should keep our overall health for as long as all of us intend to remain in this business. wholesome body, wholesome mind as well as healthy wallet.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Put your trading plan to work in real market conditions with a risk-free practice account. You’ll get a chance to see what it’s like to trade in real market conditions. while also taking your trading plan for a test drive — without risking your capital.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
well i think you are very correct the based on your point of view which say what strategy he will be using to open trade i know most forex traders never take much of there time to understand the best strategy that works fine in there direction but they rush into the forex market and they end up losing there account
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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