Trading Forex or foreign exchange is a business that can bring huge profits in a short time. But keep in mind, forex trading can also impoverish you in a short time anyway. Therefore many traders are trying to minimize the risk of trading in many ways but often fail. Here's how you learn to minimize risk in forex trading online.
1. Over Trade.
Excessive trading is very risky, so you need to make calculations very carefully. Calculations question is how many lots you'll tradingkan. What is your daily loss limit, 10% of the amount of capital you are good enough. Specify your daily target profit and Discipline in implementing them. If the target is met, stop trading, cover your meta trader.
2. Understand the effect of a fundamental news.
Sometimes the technical analysis that has been prepared carefully aground granted. Traders who conduct transactions by relying beritapun several times to be disappointed because the results are not in accordance with the predicted. So, it is necessary to understand a message that will be announced clearly and find out the impact of the news.
3. Do not rely on others.
It is often the case in some social media. If anyone post the transaction results in facebook / forum and seen the results continue to profit, the post will be called as "master". Thus, you will wonder continues, ask signal and even following open positions were done by the master, hoping to profit from the analysis of others. If the result is true profit, the master will be didewa-dewakan. But if it turns out loss, dianjing-anjingkanlah the master of this. Preferably, use their own analysis, whatever the outcome. And learn from mistakes when analyzing (use demo account). Successful Trader are traders who rely on their own abilities, so he knows, the analyzes she made effective or not.
4. Over Confident.
This is often a major impact on trading. Kepedean when trading is very dangerous because you do not know what will happen in the market. No one knows, the market will move to where.
5. Chartist.
This is a trader who rely too much on charts or graphs in trading. It is true that price movements tend to move in a pattern that already exists, but the fundamental data / specific policy could change the direction of the market trend. So you should combine technical and fundamental analysis in forex trading.
6. Always use Stop Loss.
This sometimes makes traders dilemma, at the time of trading and stop loss hit, prices reversed from what has been predicted. But of the many cases have proven that without a stop loss trader losses could worsen. Starting from loss, leading to auto cut. Do you want?
7. The simple trading system.
Some traders argue, using many indicators to ensure a better direction of the trend. Additionally, it will be a lot to get a signal. But kenyatan happens, more and more indicators are installed, will actually make you dizzy even confusion :) For each of the indicators give a different signal. Use two or three indicators, but understood completely. Suppose, you put six indicators, in order to obtain the maximum signal that you must understand the indicators are not you? Say in one month you learn six indicators, surely your understanding of each indicator is only about 17% only. In contrast, if you simply learn two indicators alone, of course you will be able to understand by 50% instead? Basically all the indicators are the same, just the way he understood just different. Even better when it is combined with the fundamentals.
Some traders argue, using many indicators to ensure a better direction of the trend. Additionally, it will be a lot to get a signal. But kenyatan happens, more and more indicators are installed, will actually make you dizzy even confusion :) For each of the indicators give a different signal. Use two or three indicators, but understood completely. Suppose, you put six indicators, in order to obtain the maximum signal that you must understand the indicators are not you? Say in one month you learn six indicators, surely your understanding of each indicator is only about 17% only. In contrast, if you simply learn two indicators alone, of course you will be able to understand by 50% instead? Basically all the indicators are the same, just the way he understood just different. Even better when it is combined with the fundamentals.
8. Using the Expert Advisor (EA).
Many forex traders are confident using EA in the trading system. They include the algorithm trading system into a robot trading system that does not need tired mantengin chart. But you need to remember, the trend of the market is always changing and nobody knows where he is going the direction of prices. If you are using the EA, always control robot trading system you are using and continue to update the system.
9. Trading by moment.
You are not required entry position every day. Take a position when you see there is a good moment to enter. If there is not a good moment and signal indicators do not provide confirmation that good, you should not take trading positions.
10. Cut loss was necessary.
Cut loss is your closing losing positions because the price was contrary to your analysis. Do not hesitate to cut losses if after you return analysis was indeed prices move opposite to the previous analysis. If this is your decision to cut losses correctly, then you avoid greater losses. If you find that your decision is wrong, at least you have reduced losses at that time. Learn from the mistakes you've made. Remember, an unsuccessful trader traders dare not cut loss, but an unsuccessful trader is a trader who exposed auto cut because they do not dare to cut loss.
11. Take advantage of the free signal.
In forums such as facebook, twitter, blogs and others, sharing many free forex trading signals. It can use as a second opinion in the decision making of open positions. We recommend that you test the accuracy of the signal using a free demo account before trading in a real account.
12. Never stop learning.
The novice trader usually assume that forex trading is easy, so it is not serious in learning forex again. By continuing to learn forex, you will get to know the ins and outs of trading. Because the trading world that has no limits.
So a few tips on how to learn to minimize risks in forex trading online. Hopefully useful and can improve your trading skills so that you will get profit.Congratulations to learn forex
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