Basic rules for opening transactions on Forex.

Any beginner starting to trade on a real account must follow a list of certain rules that will help save the deposit.

Most books and recommendations say that 5% of the total mass of investors become successful traders, but almost nowhere is it mentioned that almost all beginners lose their first deposit.

Now, analyzing my past actions, I understand how easy it was to avoid annoying mistakes due to which at one time I lost a round sum of money.

Therefore, if you do not want to repeat the mistakes of the majority, use these rules for opening transactions:

1. The greater the leverage, the shorter the road to bankruptcy - the maximum ratio for a novice trader between the available deposit and an open transaction should not exceed 1:10.

Your task for the first three months is to survive, not to make a fortune. 2. To begin with, only trading within the week - you should not increase the existing risks, if you do not want to get acquainted with such a concept as a gap in Forex , the price gap usually occurs on the weekend, and since the stop loss is triggered only by the first available quote, you could be in big trouble.

The last trade is due to close on Friday, a few hours before the market closes. 3. Always record your intentions - the best option to do this is to set a stop loss and take profit.

Moreover, the installed feet must be indestructible. 4. Quality, not quantity - professional traders sometimes open only one trade per week, trade only when it is really profitable, and not every time after launching the trader's terminal.

5. Do not open transactions without preliminary analysis - logic and intuition rarely work in exchange trading; the basis for opening transactions can only be market analysis.

If you follow these 5 simple recommendations, you are unlikely to get acquainted with such a thing as losing a deposit ; of course, no one is insured against losses, the main thing is that they do not become fatal.