Earn up to
$50000
for inviting friends
to get StartUp Bonus
from InstaForex
No investments required!
GET BONUS
55%
from InstaForex
on every deposit
Reply to thread
Results 1 to 5 of 5

Thread: Golden Rules for Forex Traders

  1. #1 You can automatically minimize the read posts in your account in the 'Forum Settings'
    My pips hand is weak
    I am:
    ----
     
    fozia143 is a splendid one to behold fozia143 is a splendid one to behold fozia143 is a splendid one to behold fozia143 is a splendid one to behold fozia143 is a splendid one to behold fozia143 is a splendid one to behold fozia143's Avatar
    Join Date
    Jul 2020
    Posts
    153
    Accumulated bonus
    136 USD (What is this?)
    Thanks
    522
    Thanked 675 Times in 130 Posts
    SubscribeSubscribe
    Subsribed 0

    Default Golden Rules for Forex Traders

    1. Learn the market. There are many ways to learn Forex trading technique. A great learning method is to explore the internet for great substantial material and Forex forums. There are many great websites and tools across the internet that teach Forex Trading. Additionally, many Forex companies offer learning courses; enrolling in a session is a great way to learn from the pros.

    2. Start trading with a Demo Account! Most trade platforms provide the option to create a Demo Account as a way for new clients to practice trade. Demo Accounts are a great to get to know your trading platform and build your own trading strategy before you trade. This will also provide the highest value discipline.

    3. Choose a reliable broker firm with low spreads and low costs. Before you deposit money into an account, remember, the money you are trading with should be money you can afford to lose.

    4. Start by depositing a small amount. Initially only deposit somewhere between $500 to $1000. Before adding to your account, ensure everything is okay and working properly, considering your broker and your strategy.

    5. Always deal with Stop Loss. Before entering a transaction, know how much you're willing to risk in order to gain. Additionally your trade should be no more than 3%-5% from your portfolio.

    6. Do not trade a transaction with an unclear direction. Since it is a dangerous market, always remember a good technical analysis wins not by emotion.

    7. Leverage is a very powerful tool for tradesman. The forex market allows you to leverage up to 1:500. Learn to leverage wisely. If not used correctly, it can be a guaranteed way to lose money very quickly.

    8. Analyze the Market. Use tools to analyze the market; this will insure future transactions. Try to predict the market trend identifying support and resistance points. Market analysis is necessary for successful trading.

    9. Learn to accept the Forex Market is uncertain. As noted above, trade is unpredictable; it is not guaranteed predictions will be correct throughout the trade. This uncertainty however is also the key that leads to significant gains in forex trading. The quicker you understand to live with the uncertainty, the more successful you can be in trades.

    10. Restrict your daily loss. Never reach a point of completely emptying your account; this will disable your account as you will not have enough margin to open trades. Therefore, restrict your daily loss. If you reach a point of significant loss, it is advisable to turn off your computer and return tomorrow; remember: each day is a new day with new opportunities to gain money.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

    Approved

  2. #2 You can automatically minimize the read posts in your account in the 'Forum Settings'
    MT5 Rookie
    I am:
    ----
     
    Mclooney is on a distinguished road Mclooney's Avatar
    Join Date
    Apr 2020
    Posts
    26
    Accumulated bonus
    0 USD (What is this?)
    Thanks
    0
    Thanked 11 Times in 8 Posts
    SubscribeSubscribe
    Subsribed 0
    Another rule should be to fix or determine your risk to return ratio. Risk management is a must for forex trading.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  3. #3 You can automatically minimize the read posts in your account in the 'Forum Settings'
    My pips hand is weak
    I am:
    ----
     
    TheWatcher is a splendid one to behold TheWatcher is a splendid one to behold TheWatcher is a splendid one to behold TheWatcher is a splendid one to behold TheWatcher is a splendid one to behold TheWatcher is a splendid one to behold TheWatcher's Avatar
    Join Date
    Feb 2021
    Posts
    177
    Accumulated bonus
    385 USD (What is this?)
    Thanks
    207
    Thanked 1,615 Times in 150 Posts
    SubscribeSubscribe
    Subsribed 0
    How Professional Forex Traders Work and Their Golden Rule's


    To become a professional forex trader is not enough only with trading knowledge and experience, but it requires patience, consistency, and a proven trading mentality. A professional forex trader manages a large number of funds, so he must always be careful and correct in making every decision.

    1. Professional Forex Traders Do Not Take Long To Predict Prices

    2. Professional Forex Traders Don't Get Emotions Involved

    3. Professional Forex Traders Diversify

    4. Professional Forex Traders Do Not Open Trading Positions Often

    5. Trading In Multiple Currency Pairs


    Beginners Traders make profits in the short term but tend to lose money in the long term. Market analysis knowledge, money management, and trading experience alone are not enough to generate consistent profits in the long term. We must learn to be able to think and behave like professionals.


    Good Luck


  4. The Following User Says Thank You to TheWatcher For This Useful Post:

    Unregistered (1)

  5. #4 You can automatically minimize the read posts in your account in the 'Forum Settings'
    MT5 Addict
    I am:
    ----
     
    mahmoudabuzaidsaad has a spectacular aura about mahmoudabuzaidsaad has a spectacular aura about mahmoudabuzaidsaad has a spectacular aura about mahmoudabuzaidsaad's Avatar
    Join Date
    Sep 2020
    Posts
    676
    Accumulated bonus
    299 USD (What is this?)
    Thanks
    2
    Thanked 731 Times in 300 Posts
    SubscribeSubscribe
    Subsribed 0
    The most important rules that I see are very important
    Do not lose more than 5% of your account in one trade when you decide to enter into a deal that will determine the point at which you will enter a buyer or seller of a currency. The point at which you will exit in the event of your price reversal and suffered a loss will determine the amount that you can lose in a trade must not exceed 5% of your total total account.
    The third base
    Do not enter into a deal unlike the price trend, the price trend is a trader's friend. We mentioned on the Price Slope page that this is one of the main rules that you will hear a lot in analyzing all financial markets, and adherence to it is often an important reason for success.

    Rely on entry and exit analysis
    As we said, it is necessary that you have come up with a method of analysis that has proven successful in the period of trading with a hypothetical account and before the actual trading

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. #5 You can automatically minimize the read posts in your account in the 'Forum Settings'
    MT5 Addict
    I am:
    ----
     
    mahmoudabuzaidsaad has a spectacular aura about mahmoudabuzaidsaad has a spectacular aura about mahmoudabuzaidsaad has a spectacular aura about mahmoudabuzaidsaad's Avatar
    Join Date
    Sep 2020
    Posts
    676
    Accumulated bonus
    299 USD (What is this?)
    Thanks
    2
    Thanked 731 Times in 300 Posts
    SubscribeSubscribe
    Subsribed 0
    Hello my dear brother. Thank you for raising your important topic regarding the important trading rules in the Forex market, your honor. I think that the most important rules lie in

    First rule: Use a limit loss order. The second rule: Do not lose more than 2 - 2.5% of your account in a single trade. The third rule: rely on analysis in entry and exit. Fourth rule: Do not enter a trade unlike the price slope

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


Reply to thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts