How to Be a Successful Forex Trader ? | Follow Some Valuable Forex Trading Rules
So you are a regular Forex Trader ? And worried because of your daily Trading Loss ? Actually, it’s not only your problem. Forex (Foreign Exchange Market) Market is very much risky. Without following some good trading instructions/guidelines no one can get regular success. After reading this few line, few questions surely arise in your mind that How to be a Successful Forex Trade ? How to get Huge Currency Trading profit ? What are the Forex Fundamental ? Which currency pairs are most profitable ? and many more.
Hope you are a newbie or not have adequate Trading knowledge . You are in right place now. We the Jobrule team regularly upload such Fundamental Analysis & news to share some basic tips & tricks for our valued website lovers . Read following Currency Trading Basic Fundamentals.
1.Open Free DEMO Trading Account :
Are you a new Trader ? Want to learn Trading System & Currency Pairs ? DEMO trading is very essential for all newbie. DEMO trading account is as same as the real account. only difference is , On DEMO account you have not invest any single penny. To learn basic knowledge about spread and pairs must start with DEMO first . But remember, Successful trading on DEMO account never reflects that success in real also. Because, on real account, you have to invest your own money. And general psychology is when your trade with your own money, emotion also reflects with your trade. But ,it’s also truth that DEMO Account Trade is essential before investing in real market .DEMO Trading platform is as similar as real trading platform and the movements of currency pairs also as real time . So definitely , DEMO Trading will increase your basic knowledge about currency movements. OPEN FREE DEMO Trading Account by entering your Valid Email ID. Must Download Meta Trader Platform to trade.
2. Open Real Trading Account :
After getting adequate Trading Knowledge by DEMO Trading Account, Open a real Trading Account with a small investment. Instaforex is a reputed currency broker. Click below banner to Open Instaforex Real Trading Account. If you open a real trading account by following our official affiliate code, you will get 50% REBATE for your every trade. It definitely, give you some extra profit .
3. Strong Determination :
At the very begging of your real Forex trading journey, traders should have to set their mind that, ‘they are act in top rated risky market where money loss is an integral part as like huge trading profit’. In a word, psychologically, traders have to mind that ‘Forex is a risky market.’ . In our survey, we seen that a new trader who entrance first time on markets always looks very elegant with high rated profitable strategies . Also, looks like that , such traders can generate millions of dollars from their computers/laptops within a day .Survey showing , such traders lose all of their hard working money just by doing regular mistakes and leave the terminal with huge disappointment. In such case, we remind that emotion has no place on trading market . Traders should overwhelm the emotion and should be practical always. Proper mind set with strong determination can bring higher profits to your forex trading life.
4. Learn Forex Fundamentals :
All beginners should have to learn some basic Forex trading knowledge before executing real trade. Such as ‘what is PIP’, ‘What is Spread’, “What is currency pairs’, ‘Difference between real Forex Account and DEMO account’, ‘Forex Funding’, ‘Reliable Forex Broker’, ‘What is trading analysis (technical and fundamental)’, ‘Top economic data which are important for Forex movements’ etc.
5. Follow Fundamental Economic News :
Fundamental economic news always moves Forex market. There has many important world economic data, which may certainly breaks the Trading chart without giving you prior notice. So, before investing on real market, traders should carefully read the document of Fundamental analysis which directly affect the market. Such important fundamental news are Payroll report (Job data), GDP rate, etc.
6. Money Management (Use Stop Loss Always) :
Proper money management also a big requirement. Traders should have to mind set how much loss the can accumulate in a single day (15% to 30 % of total available money). Use Stop Loss (SL) always when you open any positing (Buy or Sell). Also, remember, that , you can not earn millions dollar in a single day. So, also set you mind that how much profit you want to earn in a single day (20% to 40 %). . If any of your target (on loss side or profit side) hit on a day trade, just exit your trading terminal and take rest. Because, survey showing that traders always loss huge just because of greed. Many profitable day end with the loss by executing a single mistake.
7. Learn Technical Analysis and Work with Few Pairs :
Market movement always depend on two factor technical and fundamental. Technical Chart knowledge can brings some good profit to your trading wallet. Search our webpages to learn more about technical analysis. Traders also recommend to trade with few currency pairs or commodity market.
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