Best forex brokers 2017 / Forex Trading learn: 5 Tips & Tricks for Beginners

Forex Trading learn: 5 Tips & Tricks for Beginners

While experienced equity and derivatives trader in a very short time to learn about forex trading everything important, newcomers have a full program going on. It is important to understand the trade with its peculiarities, to choose a strategy and creating the first mental conditions for long-term success in trading — even before the first trade.

There is no question that traders only about the practice can learn trading Forex. However, the entrance into the practice makes sense only if previously some foundations have been laid. Otherwise threatens already in the first trading weeks drastic losses that could jeopardize the project fundamentally.

Losses and expectations are to limit

Losses and expectations are to limit

Not infrequently go beginners with a plated expectations closer to their projects. In theory (and on some broker road shows) it pays heavenly: «If the market moves to only 2.00 percent lead that at a 200-fold leverage to a gain of 400 percent.

To make it short: Who is calculated to avert likely very rapidly from the foreign exchange market.(Permanent) profit on speculation among the most difficult methods in economic life: If it could be any, the profits would be either minimal or they would generate in a worthless currency.Those who want to learn with a certain seriousness to Forex trading, has to start at the bottom of the facts.

In addition to the expectations and risks must be limited — and indeed from the very first trade.Who goes to the market in trade with 100 times the lever without stop loss, lose sooner or later (usually sooner) all his capital. No successful trader ever brought there by means of financial levers without consequent loss limitation to permanent gains.

Prefer brokers without additional funding obligation: Forex Tips and Tricks

Risk management starts with the broker choice. Often beginners learn only in the small print that they expect at worst with a margin call and must make additional contributions. Broker conceal this risk like with words such as these: «For a fixed close-out level of 40% of the initial margin, an automatic system for the closure of all open orders, so that losses on individual investment can be avoided, makes».

If it comes to price gaps (eg after a weekend), the losses still exceed the balance on the trade account and trigger a funding obligation. Risk-conscious traders and particularly in currency trading for beginners are therefore selected brokerages negative account balances are legally excluded — the broker is liable for liquidation risks etc.

Five Forex tips and tricks for doing especially for beginners

Five Forex tips and tricks for doing especially for beginners

  • No unrealistic expectations: losses and losing streaks belong to
  • Strict limit losses from the first trade — otherwise there is a total loss
  • Select Broker with guaranteed exclusion of the obligation
  • Never go without strategic objective in the market
  • bring willingness to learn theory and practice

Many beginners lose money because — is traded too often and without a plan — not infrequently from the stimulus of challenge newfound out. Trader should open positions on the basis of strategic decisions. This inevitably means that a specific trading signal the chosen strategy must be to justify a position. Those who wish to purely technical aspects in Forex Trading learn and make z. B. with the trading interface and different order types should familiar for a demo accountto use.

Willingness to learn instead of WTP

The premise of the loss limitation also applies in respect of expenditures for beginners seminars.Especially «gurus» demand often several thousand euros for alleged «secret formulas» that there never was and never will be. To learn forex trading have to spend little or no money beginners.The discount brokers are sufficient for the basics and are either free or priced low. Otherwise established basic literature, which is available from 40-50 euro is recommended. There is an overview of our favorites: Forex Broker Comparison.

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