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Rules for successful trading in Forex


Rules for successful trading in ForexOn the Forex market come to earn. Many come, there remain units, those who know and observe the rules of trade are doing well. The rules of successful Forex trading are quite simple — it is difficult to comply with them. Impatience, self-confidence and lack of discipline are the first in the list of enemies of any trader. The lack of a system trader in trading turns the Forex trade into roulette, and the probability of obtaining a profit equates to the probability of complete ruin.

The basic rules of successful trading, which every forex trader should know.

1. Control your emotions

Do not open positions thoughtlessly and guided only by emotions. With this approach, the game on Forex turns into a roulette and sooner or later you will lose your money.

Remember that fear and greed are the main enemies of the trader and in the foreign exchange market you first of all fight with yourself, and not with other participants of exchange trade.

2. Trade systematically for the chosen strategy


Now there is a lot of information in books and on the Internet on various Forex strategies. All of them are made taking into account psychological features of different traders, terms of trade (long-term trade, medium-term, short-term) and financial instrument (currency pair).

3. Manage risks


Do not invest too much money in one transaction, cut off losses on time, place orders for compulsory closing of the transaction if you receive enough profit (take profit) or unforeseen losses (stop loss). If something goes wrong — immediately close the track and do not leave an open position with the hope that now the price will reverse and go in your direction.

4. Constantly train and practice

In any case, development is important. Therefore, attend courses and trainings on exchange trade, buy and study books and courses on Forex.

Now in Youtube you can find a lot of videos on the profitable trade in the foreign exchange market.
Rules of success on Forex
As I wrote above, find yourself a good mentor and pour into the party of those who have already passed a difficult path from beginner to professional and then your chances of success will grow many times.

Beginning traders will definitely benefit from the above four rules. The result of my story was a gradual loss of earned profits and a return to the previous level of $ 1000, that is, I did not earn anything and did not lose anything.

But at that moment I realized that emotionally it is very difficult for me to trade and, probably, this is not really mine. Therefore, I applied for withdrawal of funds and simply took my money back, tied with trading on Forex.

Although, now I know for sure that you can make money on Forex — it’s a fact! It remains only to understand whether this is your occupation or not.

After all, Forex itself is one of the many areas of earnings, both in general in life and on the Internet in particular. And if you are interested in this topic, it’s worth a try.

At least you will know exactly what it is and how you can earn it here.

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