Currently, trading in the Forex market is the same type of earnings as any other work. More and more people choose this type of earnings for themselves. Many are attracted by independence, quick earnings and constant gymnastics for the mind.
Think right away how much time you are ready to give the market. It should be understood that you will have to forget about the TV, walks and even the family. Most of the time will have to be spent at the computer.
For successful trading, you need a powerful computer, be sure with an uninterrupted power source and the highlighted line of the Internet. It is advisable to have an alternative Internet line from another provider.
By the beginning of the trade process, it is necessary to have the selected broker. After choosing a broker, you can start trying to trade. It is better to do this first on a demo account. At first it will seem to you that the schedule is moving in a completely unknown direction. In fact, it’s not the case. The movement of the graph is quite predictable. Explore graphs for the last few time periods and determine the movement of the trend. Changing the trend can occur at any time, so even open a minimum transaction based on the direction of at least a five -day trend. To better understand the schedule, you can accumulate data, and then analyze their.
Sometimes there are gaps in the graphics called windows. If after the break the schedule goes to the top, this is called the level of support, if down, then the level of resistance.
The Forex market has such a thing as financial discipline. You can only enter the market with a certain amount. This is necessary to move the market in the opposite direction. Your deposit account should withstand the shrinkage of interest. Only 10% of the amount of your deposit account can be used. It is recommended not to take risks and enter the market with no more than 5%.
Start with a mini-account. The most optimal for a novice trader is a central account. Such accounts contain the smallest lots that make it possible to enter the market with a minimum amount.
It must be understood that with profit, various risks are possible that are agreed upon in any brokerage company. As in any business, there are unplanned expenses and losses. In addition, malfunctions may occur for technical reasons. Any force majeure situations should be treated calmly.