1. Use financial budget, remember that do not use for funds for capital
Want to become the first foreign traders, reactive to have plenty of investment capital, if have produced without loss of your life, remember that influence in your life not money as the capital, capital transaction over pressurization mislead your investment strategy, increased trade risk, which leads to greater error.
2. use free of foreign exchange accounts, learning simulation
Beginners to learn patience, step-by-step, don’t open trading account to real. Don’t compare with other people, for everyone needs study time, gain experience is also different. In the simulation of the trade in the learning process, your main goal is to develop personal operation strategies and type, when your profit rate increased gradually ascending frontal monthly profit, says you can open foreign exchange accounts for real.
3. foreign exchange transactions cannot rely on luck
When your profit than loss of market transactions, and the more you account for the increased amount of status, that means you have found doing foreign exchange trading tips. But if, in your 5 trade deficit of $2,000, in another deal, although your profit of $3,000 gross account is increasing, but never thinks, this may be you good luck with your adventures or the largest trading port number, you should be careful to win trading operations, adjust the operating strategy.
4. only intuition is no strategy trade risk-taking
In the simulation of creating profitable trading is not enough to understand the causes of profit, and develop your personal profit operation gimmick is equally important. Trading intuition is very important, but only by intuition to do trading is not acceptable.
5. Use a stop loss order to reduce risk
When you make a trade should be established at the same time, the loss can tolerate use stop loss transactions, just appear major losses, the scope of losses, the best in account fund account Settings, 3-10 when the total amount of losses has reached your tolerance limit, don’t put all your eggs in one basket to find excuses for turning to market, shall be immediately liquidated, even five minutes later, don’t turn market really, because you have wan market continues to turn away bad, the risk of loss of unlimited expansion. You must plan, remember that you are trading strategy to control, rather than let trade transactions, control you hurt yourself.
Shall, in accordance with the amount of account, do not excessive trading volume measure. If the account for less than $3,000, funds do 1 mouth transactions, Account funds between $3000 – $5000, unless you can determine the current situation in your favor, otherwise not exceed 2 populations transactions, If the amount of account is $10,000, trading port number is unfavorable exceed 3. According to the rules, can effective risk control, the transaction is too mouth unwise, easy to control the loss of produce.
6. to thoroughly implement trading strategy, not overthrow the original decision making excuses
Most traded deadly and will destroy everything is wrong, when you have to expand the loss (in a loss of $2,000 position) to find excuses for not deny compensate unwind, prices may once again? In your continued to have this idea, won’t have the heart to end this loss continues to expand, while the position only lose rationally waiting for the market. The market is relentless, won’t change because of infatuation for any turning. When the loss of more than $1,000 or more, traders will not been forced to unwind and traders lose money also lost energy, they will lose faith in yourself and make the decision, the causes of mistakes is very simple – “greedy”. Loss of $200, won’t make you lose your back, and loss of transactions may have more time to gain, but in a transaction loss of $2,000 – $3,000, you ruined the opportunity to earn more money, the loss is difficult. In order to avoid the fatal error, must remember a simple rules – don’t let risk than the original already set of tolerance, once the loss to the original setting limits, don’t hesitate to unwind!
7. Trading funds to enough
The less amount of account, the greater the risk, because this wants to avoid trading account with only $1,000, the account is not permitted amount committed a mistake, but even experienced traders have judgment when the error.
8. To learn lesson is wrong, don’t repeat
Error and loss of unavoidable, don’t blame yourself, it is important to learn lessons, to avoid making the same mistake, the faster you learn to accept losses, learn lesson, the faster the day comes profit. In addition, must learn to control your emotions, not because of earned $800, neither was thrilled with the $200 for damage to your head against a wall. Transactions, personal emotions less, you can see the market situation and make the right decision. To calm face, to understand and learn from the profit is traders, but from the loss of growth, when understanding every loss, the reason that you again to gain a step forward on the road, because you have to find the correct direction.
9. You are your greatest enemy
Traders who is his own worst enemy – the greed, impatient, control of emotion, unguarded, excessive self etc, easy to let you ignore market trends and wrong trading decision. Don’t simply to haven’t floor transactions or boring and trading, there is no certain standards required in a certain period, if you a deal in more than 2-3 days only open a position, but the deal a profit of $600 – $800, express your decision is right, and no wrong.
10. The decision of the transaction records
Detailed records of daily trading decision factors, whether what events or other reason for you to make a deal, after trading decision to analyze and record losses result. If a profitable trading results, you right, when the similar or the same factors again appear, you have done transaction records will help you make the right decision; trading Of course the transaction record losses can let you avoid making the same mistake again. You can’t be all transaction experience all written in mind, so this record to your trading skills and find the mistakes.
11. Experience with reference to others, do middle school
Deal with your own decision should be on the market analysis and reference basis, then others’ opinions. If your results with others, the same. If that is not too Yi zhang. However, if the results are really too wide, and you begin to doubt his analysis, at best, only don’t deal with real simulation of account. If you decide to have confidence in yourself, don’t hesitate to do is, you will have to many predict a, if your prediction error and to find fault.
12, do not operate conveniently woes
Remember: the loss of ancient general market as soon as possible to terminate, profit part can hold how long put. Another important rules are not let losses occurred in the area, has profit with the market trend, with sudden reversal in no profit positions and don’t let original has profit into a loss of position.
13. Don’t have to turn the trading mentality
Facing the situation, remember not loss to the new position to open backward, it often figure will only make things a lot worse. Only when you think of prediction and decided to completely wrong circumstances, can end soon to open a loss of reverse new positions. Don’t play with market changes a guess game, miss trading opportunities, than to produce loss to the good.
14. gradual, cautious attitude learning foreign exchange trading
In the simulation of operation skills has matured and profit increase, you try to pay $1,000 dollars for the simulation of trading contest. Pay in the simulation study foreign exchange trading contest is meaningless, because in the simulation trading contest, maybe you will get better bonus to high-risk transactions, even though you really won, it doesn’t mean you can be confident in the real deal with this kind of adventure, trade, because of the way we’ll probably lose real money is no longer simulation funds. Lack Dian mentality and skills, and the risk of trade in the true account will only bring losses.
15. true transactions in the simulated trading mentality
To deal with the real attitude to do trading, the faster you simulation, the sooner the can develop can be applied to the real deal appropriate skills. Must be a real simulation to trade deal, because you have developed the straight for your trading skills of success.
16. Simulation operation avoid exchange rate changes frequently hard to predict
Beginners should avoid simulated trading currency changes frequently, such as the New York time period on Sunday night, because the time is Asia Monday morning, currency, is no venation is difficult to predict, Another is New York time on Friday morning, especially in the market, this time with this week more authoritative position, make the dollar has unexpectedly is likely to change, as in the U.S. economy situation uncertain circumstances, there will be more selling dollars. If you’re in this early simulation period, only can affect your trading confidence.
17. Simulation early should take time to operate, and understand the various monetary groping
In the same day in early simulation, this time transactions will help understand the various monetary situation, because each currency in different time every day, you can start a change of circumstances, which is easy to identify specific timing operating characteristics of currency movements. Daily trading beginning and ending, more should read the news and market watch money to help make correct simulations, the trading strategies. You can select “new homepage this news” reading related news, and from the trading platform, you need to click the monetary simulations, try to analysis and prediction.
18. The simulation should choose 1 ~ 2 early currency first introduction
Don’t start to trade, should focus on multiple currencies in 1 ~ 2 currency in-depth study to trade, and analyses its relationship with other currencies, various currencies are being some interactive relationship with other crossover rate is $is closely related to the combination of currency.
19. The patient learning, diligence redeems stupidity
There are ways to learn foreign exchange, we can help you teaching course, we should also suggest you daily trading and simulation analysis of related news and read foreign currency simulations, diligence redeems stupidity. Learning foreign exchange as imagined difficult, but you must have patience to learn step by step, laying solid foundation, will help you to the way of success!
