Game in Forex, learn the rules of currency exchange rate
Game in Forex is a mind game play you know. game in Forex totally a mind game in exchange rate. In forex trading you have to learn the rules of game in Forex. You have to play better than anyone else. Otherwise you will not stay in Forex world or Forex trading. Some people come here without knowing any thing. After some day pass than learn some thing but knowing some thing isn’t sufficient for Forex trading. So for that situation you have to learn the rules of game in Forex.
For short clue we will give you some GOLDEN RULES OF FOREX TRADING or exchange rate. But remember this is not the only thing of game in Forex. For more you have learn more in pipschart.com
SOME GOLDEN RULES OF FOREX TRADING or currency exchange
Every trader think Forex is a “get rich quick” scheme but we say your opposite that Forex is not a “get rich quick” scheme.In game in Forex, the truth about Forex is that it can be an intense and stressful undertaking that requires a strong control over your emotions and thinking of power.
Learning to trade Forex takes patience – it will take you time before you master the basics. Those who have lack of discipline or make decisions that are not carefully thought through will quickly find themselves in a negative investment position. Those who do not adhere to sound investment principles and game in Forex, or who allow emotion to govern their thinking, quickly find themselves losing a grip on their investments.
However, those who follow sound investment principles will reap the benefits of one of the world’s most liquid and and influential markets. A 100% return on investment within a couple of days wouldn’t surprise anyone; in fact 1000% wouldn’t surprise an experienced trader. Needless to say, Forex has become one of the most sought after and talked about investment opportunities. As in any industry, Forex has its own nature and golden rules.
Learn the rules of the game in Forex, the keys to success, and make your decisions wisely. This post will introduce you to the golden rules of Forex trading that every person entering this exciting market should follow in order to become successful. Hope you will apply this in your Forex trading area and earn a lot of pips.
- FOLLOW YOUR LEARNING CURVE, THERE ARE NO SHORT CUTS HERE
The market is always changing and it may be hard to understand and keep up with these changes unless you invest in good Forex trading education.So always be with Forex changing concept.
- AVOID HUNTING FOR TOPS AND BOTTOMS IN TRADING,
- LEARN TO TRADE WITH THE TREND AND HELP YOURSELF
There are many beginners who make trades in any direction. While there is a possibility for making prots both on the upside and downside, trading in the direction of the trend will give you the best trades and chances for success.Learn proper support & resistance rules.
- TRY TRADING ON A DEMO ACCOUNT BEFORE GOING LIVE
Make a demo account and use it to learn and understand Forex trading.While using a demo account you will be able to test your trading strategies and mentally prepare yourself for a real trade. However, keep in mind, that you should be realistic and treat your demofunds as real money; otherwise, there is no way you can learn from demo trades. For demo account you may try below link :
- STOP LOOKING FOR A “MAGIC FORMULA”!
While there are a lot of companies who are earning money by selling software which aims to predict future trends, the reality is that if this software really worked,these companies would not be giving the secret away.so stop this and learn something more.
- PUT YOUR EMOTIONS ASIDE WHILE YOU TRADE
Trading is a stressful work, and there will be a lot of setbacks on your way to the peak. Emotional trading may force you to open a trade too early and eventually lead to a loss due to a wrong entry. Control your emotions by staying cool and calm, and focus on your long-term goals.
- DO NOT TRADE IF YOU HAVE CONFUSE
Just because the Forex market is online twenty-four hours a day does not mean that you have to trade all that time. If you are doubtful, do not trade at all, but instead analyze the market and use the knowledge you get in the future to make more protable trades.
- PREPARE A TRADING PLAN BEFORE YOU ENTER ANY TRADE (MUST)
Because trading is always full of emotions, you must have a trading strategy, which includes a set of rules which you stick to, thus protecting you from yourself.
- KEEP IT SIMPLE OR THINK SIMPLE
Avoid trading strategies which are too complex to understand and which use a lot of dierent techniques. They can distort your judgment and you will miss a lot of good trading opportunities.
- DON’T RISK MORE THAN YOU CAN AFFORD TO LOSE
Due to leverage, Forex trading has large potential rewards, but also large potential risk. As a novice, don’t risk more than 1–2% of your margin account on any given trade. Over the long run, this will give you a chance to make a prot while reducing the probability of taking a loss.
- REVIEW ALL TRADES REGULARLY
Develop a habit of reviewing and analyzing your good and bad trades. Then, you will have a much better sense of what works best in your future trades.
- FOCUS YOUR MONEY MANAGEMENT
There is many indicator for Money Management but this is it where you drop up your own property in a deep sea.So be aware about your Forex Trading Money Management. Remember return on investment is so hard things in the world. First learn money management definition than go forward.
… if you think you are ready in game in Forex, open a demo account and go for making fast profit. Happy Trading and enjoy.