For those who do not know, Forex is a highly dynamic market, because within seconds we can win or lose money, so it is important before practicing a lot on demo accounts offered by Forex broker and study hard. So to make your life easier and help you in your training as a good Forex trader, we bring to you this series of tips that allow you to minimize losses and increase profits to Start in Forex Business.
Top 10 Tips for Getting Started in Forex Business
1. Choose a good Forex broker: mostly brokers offer and guarantee security in the management of your money, because they are like a bank so to speak, but unfortunately most can only subscribe with large capital. To get started, we recommend you find a good broker that allows calls to operate and create small accounts (or better known as micro accounts).
2. Be patient: When it comes to practice a lot, we are, we mean that it will take much more than just one year of uninterrupted practice, and begin first of all with a small capital, not to feel the pressure. We must have patience, and you'll have plenty left over to add time money to the account.
3. Start with little money: as recommended above, this advice is very, very important, but many people leave it aside, because they are dominated by ambition when they start making money.
4. Practice with the demo: the vast majority of broker offer demo accounts, with which you can practice with play money. You will realize operations are completely real.
5. Think percentages: More than anything when operating with a small account. Of course, the fact of winning $ 50 dollars for a $ 1000 dollars does not sound like very fructurso to say, but if we see a percentage mode, just increase your capital by 5%. In fact it is something that even many banks pay in a year
6. Preserving capital setting limits: you must always have what an exit plan would call for both the operations that are winning as well as for those with whom we're missing.
7. Always have time, not always money: No matter how you evenings learning to trade the Forex, you do not have to worry because the market will always be there to operate.
8. Study the countries of the currencies that you operate: It is highly recommended that a knowledge of the news of the countries whose currencies are being used to operate, as any minimal political change can influence a rise or fall in prices is taken.
|Start at the Forex Business is easy, you just need patience and go step by step|
9. Never use real money until after 6 months: It should take full account of this advice, and it is said that 6 months is the minimum time that people should invest in demo accounts to practice before using real money .
10. Create a log of your operations: Use a notebook, a notepad, print screen, actually any tool that allows you to keep track all your operations (ganaras or missed it) so thus trace the vector of your future strategies.