"Forex. 10 Tips for beginners - it's a small allowance, designed to draw the attention of traders just starting to play the stock exchange, some important points. Compare your style of trading with these 10 tips and if you adhere to these recommendations, it will increase your chances of a successful trade.
a . Increase use timeframe - if you're a beginner, and not an experienced trader, you have to trade in the range of no less than 60 minutes. The randomness of transactions in the Forex market on small timeframes distort the overall picture and can mislead you. Use the longer periods of time, such as the 60-minute, 4-hour and even day by planning your trades.
2 . to trade, use about 5-10% of total capital , sell a lot of money is very risky. The high leverage in Forex can increase profits but more often it is that it brings catastrophic losses. In the equity markets is prohibited shoulder more than 1 to 4-10, but on the Forex it comes to 1 in 100. This traps beginners and very often leads to rapid loss of capital. You should not quickly lose all your money to be able to adapt to rapidly changing market trading.
3. Allow your trading strategies to survive price fluctuations . You must consider the big price swings Forex and if you define the main price trend, do not let the market "throw" you out of the deal a small price swings against you. For example, 30 points for stop-loss will be too much to close your deal with loss, and the price, meanwhile, after the oscillations can again continue to move in a certain earlier direction.
4. Reduce your dependence on technical indicators . Technical indicators are constructed on the basis of past events and can not reliably predict the behavior of prices in the future. Do not give up entirely on technical analysis, but do not rely solely on these data. Tips for beginners traders: identify the underlying trend (for example, simple moving averages will show you this) and trade in this direction. Successful traders, in contrast to newcomers to the Forex, when deciding to rely in approximately 25% of the cases on technical indicators.
5. Use in their trade one or two currency pair . And stick with the basic pairs, rather than derivatives. Currency prices is above all the fundamental data and to predict the behavior of couples in the future, need to monitor developments in countries using those currencies. If you trade too many pairs, you will be hard to keep track of all events and draw the correct conclusions. Over time, as you become more experienced, you can trade a large number of currency pairs.
6. If you do account for less $ 50000 ask your broker to include the opportunity for you trade mini-lot . If the broker does not offer this option - select druguyubrokerskuyu company, trade mini-lots is very important if you have little money in the account. This applies to trade in the Western or American exchanges. In Russia, Forex-brokers was originally use the opportunity to trade mini-lots and the requirements for initial capital account with a broker is much lower. We rated "Forex Brokers" and select the most suitable broker for your trading style. Personally, I have already spent several years working with a broker Alpari and I recommend it to you: very a reliable broker.
7. Stay tuned for the chosen currency pair to trade. special attention on important news, which can significantly affect the exchange rate. The best strategy is to close an open transaction on the currency before leaving the important news. Newcomers on Forex is difficult to make a correct conclusion on the basis of news. After the news quotes can develop in an unpredictable way, often against your expectations, and it is possible to lose a lot of money.
8. Determine the trend and trade in this direction. For beginners in Forex Traders, however, as on other stock exchanges, the safest is trading with the trend. Using, for example, simple moving medium, determine the direction of the trend, wait for the rollback and enter the market. Be careful when entering if the price has reached a price high or low (Use support and resistance lines, try using indicator RSI ), as in this case it is possible that the trend of price movement (Trend) may be replaced.
9. Be sure to use stop-loss (protection of open positions) . Very often, new traders in forex do not even know the need to protect their positions. Forex trading or futures trading in the stock market, where the size of the shoulder is greater than the shoulder on a normal stock exchange, without a protective stop can destroy you so quickly that you do not even have time to see how it happened. Council beginners: Do not put the stop too close to the price (see paragraph 3), for example, determine the average price fluctuations over the last few bars of your period (use indicator ATR) and place a protective stop at 2 * ATR from the extremum previous bar. And then you can start moving the feet, expecting him on this same formula. I suggest you read the bulletin Chuck Lebo, entirely dedicated to strategy execution.
10. Stop listening to the "gurus" , claim that would definitely know how to change the price in the future and trust unconditionally forex forecast. The huge size and nature of the Forex market ensures that no one has a 100% reliable information on future price movements. Factors affecting the headlines so much, that tips the "gurus" is just their opinion. Opinion and nothing more. For starters, FOREX there access to exactly the same data as that of all other bidders, use your head. Past experience, acquired knowledge and your intuition will lead you to your goal and that is that you should trust.
0 comments:
Post a Comment