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Is Forex trading available to everyone?

 

  • The Forex market (foreign currencies and commodities trading) is a huge market, given the volume of daily trading amounting to more than 5 trillion USD per day, which makes the Forex market highly liquid especially when considering that it can be traded online.
  • Forex trading comes online through programs that help to open and to close the transactions as called trading platforms are available in all brokerage companies, thereby making trading easy for all individuals worldwide without moving to the international exchanges. Brokerage companies provide all the requirements of trading online, as it will be adequate to charge your account to open and close deals easily, and allows your dreams to become true by owning a fortune or earning an income that allows you to improve your living conditions.
  • Forex is nowadays becoming available to all, not only to a particular category, but to all individuals and to your knowledge that the successful investors in the Forex market are in fact simple and ordinary people started small accounts but they worked hard and worked to enhance their knowledge and methods in trading Until they became major investors as some of them published their analyses and established private schools for education, Therefore, you should understand the basic concepts of the Forex market and follow the latest developments, strategies and technical analysis and also control the movements of the market with great interest, such as economic news and fundamental analysis. If you can follow these tips, you may be at the beginning of the right path to achieve your goals in the Forex market.
  • It is worth noting that the Forex market is a highly variable market daily, in the light of the economic fluctuations and the conditions of countries. It is open throughout the five working days, making it the strongest international market thanks to the large liquidity and the number of traders daily from all over. In addition, it is not limited to a specific category and there are no differences between the traders except the experience and knowledge and the management of the account in the best way so we find that the Forex market is the best markets and suitable for all opposite stock exchanges because it costs you only small amounts because the brokerage firms provide traders with mini accounts starting at 100 USD only and is a very small amount to invest.
  • In conclusion, we say that the Forex market is available to all individuals and from all over the world where it is enough to allocate a little of your time in the day to be able to analyze and trade for profits, where you require only a computer or an Internet-enabled smartphone to start the successful trading journey. Before doing this, however, you should be aware that trading is easy under conditions of commitment, focus, and hard work because it is considered one of the most demanding jobs to achieve satisfactory results.

 

How do you stop losing your money in trading in the Forex market?

 

  • If you see yourself exposed to a series of losses in the Forex market, this article is suitable for you to solve your problem as the loss is part of the market, but the long repetition indicates the existence of intractable problems that must be faced and repaired to stop losses. We will propose here solutions through the two parts we expect to submit you a good vision to limit your losses and make gains in Forex.

 

First Part: Try to control your mind

 

  • We find that most of the losing traders in the Forex market cannot control their emotions during trading and fall into the trap due to emotional trading, which is surrounded by excitement about controlled trading under the control of traders.
  • The Forex market offers two basic options for traders:
  • Losing your money in volatile trading emotional situations.
  • Learn how to control your mind by discipline in trading and earn a steady income of money slowly over time.
  • Let's say that you set a goal to be a trader by developing your mind by trading in a right way far from gambling with your money and losing it, and by taking a look at the two important sides to control your emotions when trading in Forex.
  • Understand first and then implement your idea in the right circulation so that you accustom your mind to the right way in terms of controlling your emotions
  • Understand and apply good money management in the Forex market. Many of the traders who are active in the market may enter into very large deals, which is a mistake.
  • When you take a big risk, this increases the importance of the transaction you entered abnormally, especially as it may cause you to lose, which increases the anxiety and fear, and this is what excites your emotions, where we find that emotional trading feeds on itself and develops. When your loss is great, this puts you in a difficult position that keeps you going in that negative circle because you feel the loss of a lot of money in your deal and will continue to trade emotionally and run the risk of compensating for the losses
  • There is another way that is misunderstood by many traders in the area of capital fund management. That is, they enter into so many deals, while a successful trader should enter only into very few deals. Some might wonder when they see traders entering into one deal a week or even in a month, but the matter of the fact is that the trader who enters into many deals will be more prone to the losses in the long term.
  • So you have to control your emotions when you trade and not to open many deals and do work to return the losses immediately. Rather, you should control your mind and think well how to win away from gambling and opening deals for the conquest only.
  • Make a clear trading plan and use it in the forex market to keep your mind under control.

 

In this part, we have well understood that the proper management of funds is necessary to enable the control of the mind. Now we will talk about how to maintain this control.

 

 

 

Second Part: Proficiency in your trading strategy in the Forex market

 

  • What you need to do in order to stop the loss of money in the Forex market is to fully master your trading strategy that you have tried and found it is successful for you. Many traders do not know exactly what to do, which generates emotional trading and failure to optimize the terms of the drawn strategy
  • Be proficient in one strategy every time
  • For proficient full trading strategy, you have to master one aspect only before moving on to learning the other model. This is an effective way of learning away from loading the brain with a lot of information.
  • Trade as a sniper in the Forex market
  • When you have received enough information about the strategy, there will be the role of implementation. Unfortunately, many traders fail in this aspect, despite their good knowledge as being a sniper. You have to learn how to choose your entry points wisely away from excessiveness. We see successful traders in the Forex market trading like snipers and not shooting randomly, and also find the losers shooting randomly to open many deals until the implementation of their ammunition, which runs their balance quickly without achieving their goal of making a profit.
  • Focus your trading efforts on daily charts
  • In conclusion, I would like to give the advice to stop the loss of money, namely to "reduce the multiplication in the Forex market." It simply means that reducing trading and opening a few deals is often better than multiplying it in all areas and do not be afraid of losing the deal. The race is judged against its conclusion and not the speed of its beginning. Also, you should focus on the daily graphic charts because the small temporal lines have random motion contrary to the large temporal ones where the situation is abundantly clear.
  • We may find that the best thing we can do is to reduce our losses by focusing on the daily technical analysis and going back to using the demo account to develop our strategy for a successful and healthy entry.

 

Three important points to compensate losses in the Forex market

  • In light of the difficult financial conditions that have led many investors to the growing concern in all financial markets, especially the Gulf markets, we find that many of them consider the Forex market as a safe haven for investment because it has a special advantage over the other markets and is not affected by the recession as a result of high volume of liquidity in it, which allows for making profits even in the most difficult times possible in the world.
  • On the other hand, we find that new investors, while roaming on the websites of Forex brokers or account management sites, are often influenced by ideas that lead to richness very quickly. We do not find a Forex-related site, but we promise investors to make profits quickly without realizing many of the important Forex market issues.
  • Forex traders must devote a great deal of their time to reading Forex articles for learning in particular the account management issues before starting trading and opening positions. This is because the information on the Internet is very huge and you also find exchange sites of experience that can be of a great benefit in virtue of the instructions they offer which support people's experiences.
  • In this article, I will never promise you any profits, but if you can understand these important points, you will be able to keep your account from large losses due to reasons that are always repeated when trading.
  • The three important rules to compensate losses are as follows:

 

Avoid relying on luck when trading

 

  • If you want to achieve gains from the Forex market, you should make an effort to do so and you have to be a serious person in addition to the formation of a business plan or trading strategy that you have dragged a lot with mastering the methods of risk management. No matter how skills in trading, remember that you can lose and you may lose a lot. So, I'm going to ask the question of how to deal with losing trades:
  • Will you close your account if you encounter, for example, 5 losing trades? If yes, you are in the wrong way. I will explain this to you in the language of numbers to make it easier to understand more example. Suppose that you opened a trading account of $ 10,000 and that you have to determine at the beginning the risk value per transaction. If the increased risk ratio has increased odds of bigger you can say then that in the forex market there is no profit without loss.
  • Assume that you choose a risk ratio of 10% per transaction from your account value, which means that you will lose everything after 10 losing trades. We return again but at a risk rate of 5% per transaction of your account value and here you find that you have doubled the chances of profit by almost half.

Apply the preliminary steps of your plan

  • This title may be regarded as a mere prolongation; however, it represents one of the most critical points in Forex trading. While it may sound overly simplistic to customize our own trading plan, most traders find it too difficult to be implemented. Such difficulty is driven by the conflict between what the plan forces you to do and what you deep inside rejects. Statistics have shown that 60% of the traders do not adhere to their plans. Thus, you should entirely eliminate and curb your emotions as to not dictate you of what you should do because it will lead inevitably to the loss of your account.
  • If you find yourself succumbing to your feelings, be sure that you do not fully trust your strategy. Thus, try to build up a consistent plan and to overcome its first step, otherwise, failure will be your destiny and you will eventually join 90% of traders who failed in Forex.

 

Wise Use of Leverage

 

  • When surfing Forex brokers’ website, the trader will usually come across terms of ‘leverage’ and ‘margin’. So, you should be well aware of the fact that margin is your own money, while leverage is money borrowed from a broker.
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  • In this sense, traders should fully understand the concept of leverage which, of course, contributes to the increased profitability but also to the risks that may eventually lead to loss of the trader’s account. For example, use of 1:100 leverage means that trader’s buying power, as well as risks of loss, are magnified 100 times. In addition, use of leverages necessarily means giving up management of your account to the broker. In case you are confident that all your deals will be profitable, which is unlikely to happen, be sure that high leverages will help you to attain big wins. If you were not fully confident of achieving such profits, lower leverages will then be your best choice. Therefore, you should wisely select the leverage ratio to perfectly manage your account.

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