Tips for Beginners


1. You should know yourself well so you can learn your way of trading!

There are a lot of different ways and methods of trading, you should choose the way that suits your character. If you are a patient person, for example, think of a short-term plan instead of a long-term plan, so you don't find yourself needing to close the deal before its time. If you are an active person and you usually wake up early, make sure you use a strategy that doesn't make you awake during the night hours. Fatigue may reduce your ability to make the right decisions. Think about yourself while thinking about your strategies – understanding your personality well will work for you in the long run.

2. Find a suitable forex broker

Find all brokers and look carefully at their services, speed of execution, trading platforms and everything they offer. Do a list of questions and start comparing brokers, that will make you feel confident in your decision. What are the pros and cons of each broker? What kind of platforms do they offer? Does the platform correspond to the trading method you chose? How's the customer service? Where is her main headquarters? These questions will help you find a forex broker that meets your trading needs.

3. Continuity is the basis..

There are two types of schools of thought in market analysis and forecasting future trends. Those who use technical analysis claim that the market is semi-consistent and has logic in its movements. Those who use basic analysis focus on the news rather than the market. In fact, there is no perfect way for traders to use both. But decide which methodology will be your basic way and stick to it and keep going.

4. Take good care of the time frame!

Most forex traders spend a lot of time looking at the charts of the forex market. There are many different types of graphs but they are all showing the same thing. It is important to draw attention to the time frame of the graph that you decide to use. The good rule to follow is to use a longer time trend analysis and a shorter time frame until you decide to enter and exit the market.

5. The right decision is always based on the correct knowledge.

To make sure you are making the right decisions, you need to calculate your winnings and losses from time to time. Take a look at your trading record.-How many deals do you have? How many lost deals? Then calculate the total amount traded in all your deals. This is a good idea especially if you are still at the beginning of a way to learn forex. Check all the Times your system has your login signals and write everything in a notebook! This will help you make valid decisions in the future.