Finger Geek
Verified member
Forex trading is a very lucrative internet business. Many people have been earning big trading forex. Because of this. Some amateur were excited about this and rushed into forex trading. But at the end they end up lossing there money. That is because they did not learn from experts before they jumped into forex trade. I have these tips to help you in becoming a successful forex trader.
HAVE A STRATEGY :
First of all. After learning or knowing what a forex trade is. Next thing to do is get a strategy to start your trade. You can either develop this or better still learn one from an expert that do make profits.
This is the best way to make a trade. In your strategy. You will know when to enter a trade and when to leave a trade. You will also know how to make use of some indicators for your own prediction.
MAKING A PLAN:
In having a plan. You need to set a plan for your forex trade. I mean having a target and not been greedy. Many people have been greedy despite having a strategy and they ended up lossing there money.
Depending on the strategy you are using. You need to know that for example if the time interval your are using is short, then the take profit pip should below. Never expect high pip for low time interval like 30 mins is better for 5 - 10 pip.
And always remember to implement stop loss in every of your trade and never use all your money in a trade. If possible 1 - 5 % on each trade.
If you take note of these two tips. This will help you go a long way in your forex trade business.
HAVE A STRATEGY :
First of all. After learning or knowing what a forex trade is. Next thing to do is get a strategy to start your trade. You can either develop this or better still learn one from an expert that do make profits.
This is the best way to make a trade. In your strategy. You will know when to enter a trade and when to leave a trade. You will also know how to make use of some indicators for your own prediction.
MAKING A PLAN:
In having a plan. You need to set a plan for your forex trade. I mean having a target and not been greedy. Many people have been greedy despite having a strategy and they ended up lossing there money.
Depending on the strategy you are using. You need to know that for example if the time interval your are using is short, then the take profit pip should below. Never expect high pip for low time interval like 30 mins is better for 5 - 10 pip.
And always remember to implement stop loss in every of your trade and never use all your money in a trade. If possible 1 - 5 % on each trade.
If you take note of these two tips. This will help you go a long way in your forex trade business.
