Forexman

The forex market today - it’s not just an opportunity to earn lots of money. This lesson, which can completely change your life and your views on the world. And if you decide to enter into this world, then remember that the principal of your actions - is to act very cautiously. Especially at first. This article is from the cycle Forex beginners. Here I show the main criteria for the successful formation of a young trader.

So, what steps we need to take in order to not be among the 9 states of the 10 traders who lose.

1. The main rule is that you will need to understand, is that the FX market - not roulette, where the payoff depends entirely on luck. And while the FX market is not devoid of this component, however, can not say that luck - a driving force in the forex market. Therefore, from the first days of understanding the basics of the currency market you will have very seriously to the study material part, that is the theory.

With specific regard to education. Large brokerage firms regularly hold online seminars Forex beginners. You can just sign up to it and assess the future scope of activities. As a textbook can recommend training packages from the company «Forex Club».

2. Suppose that you have already received basic training course and begin to trade. Your next step is to choose the currency pair. Before you do this, ask yourself the question: «What kind of money I can take the risk? What is the time interval for trade to choose? How to choose the currency pair to trade? »

Once you select a currency pair, decide the question on the time frame of trade and set a limit on the amount of your capital, engaged in trade, must have worked closely with the currency pair. Explore its history, see how they work different indicators for this currency pair, etc. Word of a thorough analysis of this pair to avoid unpleasant surprises.

3. A separate study of possible indicators. Usually Forex beginners offer the most easy to use tools of analysis: moving averages, RSI, Stochastic, histogram MACD. Incidentally, the latter gives very good results on time and above the graphs. From the signal indicators at first to work better with Momentum. There are so-called psychological indicators. These include indicators of volume. This figure has great significance in the decision to close the position. If the volume increases, it will tell you that the market is interested in further development of the existing dynamics, or to its change in the opposite direction.

4. Learn to be responsible for their actions and try to make their own decisions. The key to successful trading lies in the fact that you yourself are developing a work plan and make decisions independently. It is in this case, you can understand whether you’re selling.

5. Proverb old as the world: «Learn from the mistakes of others». This, of course, will not always be obtained, but this should be pursued. Regarding this point, it is very important to analyze not only the reasons for the victories, as the causes of failures. If you understand their mistake, then the bitterness of failure will be much less because you’re confident that will not repeat such mistakes. The golden rule: never expect that a losing position will recover and the price will go in your favor. This is misleading. From loss-making positions need to get rid of time, until it brought even greater losses. A trader who has learned a lesson from the analysis of his mistakes - prospective forex trader.

6. The trading system - the key to success. I think all Forex beginners need to know that competition in the Forex market will be squeezed out weak, but because in order to survive, you need to gain an advantage over other traders. This advantage can be gained by creating and using the trading system, taking into account the fact that the system is tested on historical data and shows positive results in the trade. Another elementary rule trading system - it must be very simple, but functional.

7. Psychological stability. Even the best forex trading systems are not able to bring you luck, if you are not organized and do not know how to behave in hands. The secret of success lies more in the ability to control his emotions. Fear and greed - your main enemies.

8. Risk. Do not take risks in the Forex market - means not to play. All trade in Forex is based on the concept of risk. You can not get more profit without any risk. But the risk must be justified. You should follow the basic rules:

- Do not play more than 50% of your capital-mi
- Do not invest in a market of more than 10-15% of
- Rate risk for each transaction shall not exceed 5%

In short, the risks only the money that you can afford. If you trade with the fear that you risk losing money, you are sure to lose.

9. Trade - employment for life. Always remember that the FX market - is serious business. So treat it accordingly, as a lesson, which you will engage in more than one year, receiving, among other things, with satisfaction, as the material plane, and moral. Do not act like a schoolboy, who found themselves in the FX market, just trying to double or triple your bill. Home is your task - is to learn how to trade and be in this business pros. If you refer to trade in this way, you will surely achieve impressive results.

10. Play on cycling. Most of the events that take place in the world, arise and go cyclically. Similarly goes the life of any trader. You have to go through series of successes and failures. Increase the size of their positions at the most opportune moment, and conversely, when the market gives alarming signals. Learn to manage your account cyclically, depending on the «weather». Therein lies the success of many professional traders.

• Forex. Learning to manage risk
• Emotions and trade Forex is not compatible
• Forex Market - the game of minds
• Forex trading. Effective rules for success
• School of currency dealing. Technical analysis