Basic rules for opening Forex trades.

Any beginner starting to trade on a real account must follow a set of specific rules to help preserve their deposit.

Most books and recommendations claim that only 5% of investors become successful traders, but almost no one mentions that almost all new traders lose their first deposit.

Now, analyzing my past actions, I realize how easy it would have been to avoid the embarrassing mistakes that once cost me a significant amount of money.

Therefore, if you don't want to repeat the mistakes of the majority, use these rules for opening trades:

1. The higher the leverage, the shorter the road to bankruptcy - the maximum ratio for a beginner trader between the available deposit and the open trade should not exceed 1:10. Your goal for the first three months is to survive, not to make a fortune.

2. To begin with, only trade intraweekly - don't increase your existing risks unless you want to become familiar with the concept of a Forex gap . Price gaps usually occur on weekends, and since stop losses are triggered only at the first available quote, you could get into big trouble. The last trade should close on Friday, a few hours before the market closes.

3. Always establish your intentions - the best way to do this is to set a stop loss and take profit. Moreover, stops should be inviolable.

4. Quality, not quantity - professional traders sometimes open only one trade per week. Trade only when it is truly profitable, not every time you launch the trader's terminal.

5. Don't open trades without prior analysis. Logic and intuition rarely work in stock trading; market analysis alone should be the basis for opening trades.

If you follow these 5 simple recommendations, you're unlikely to encounter the concept of losing your deposit . Of course, no one is immune from losses, but the main thing is that they don't become fatal.