The main secrets of Forex.

Trading on any financial exchange is quite complex, and on Forex even more so, so in the latter case, there are many important features, knowledge of which can help avoid many problems.

Forex secrets are essentially the key to break-even trading on the currency market. Unfortunately, they're not the Holy Grail that will always guarantee a profit. However, if you're already familiar with trading, you know that at the initial stage, it's important not only to make a profit but also to simply preserve your capital.

Therefore, these secrets include not only trading recommendations but also capital management advice.

Forex secrets that can help you achieve success.

1. Minimal leverage – a beginner always wants to immediately increase their funds several hundredfold, but this is one of the most common mistakes. Never start trading with leverage greater than 1:50. Transitioning to riskier margin trading options is possible after at least a year of trading.

2. Don't rush – research conducted by one analytics company has found a strong correlation between trading efficiency and the number of trades. This means that traders who open trades more frequently earn less profit than their more cautious counterparts. Ideally, you shouldn't open more than one or two orders per day.

3. Stop orders – thousands of articles have been written about stop-loss orders, but almost every beginner loses their first deposit precisely because they don't place one. If you're unsure of the stop-loss order size, first set it at 10% of the trade amount and then adjust this parameter.

4. Choosing the right broker – when choosing a Forex dealing center , carefully read the contract and other documents, and don't hesitate to ask any questions you may have with customer support. This will prevent you from encountering an unpleasant surprise that could lead to account blocking or losses.

5. Using scripts and indicators – for some reason, no one bothers with the question of whether to calculate manually or use a calculator, but some traders are hesitant to use technical analysis indicators and auxiliary programs.

6. Avoid using complex strategies – these include scalping, Martingale, and some other trading methods. Furthermore, for several years now, most professionals have abandoned trading solely using fundamental analysis.

7. Avoid spontaneous movements – price spikes are very common in Forex, and the temptation to open a trade in the direction of the breakout is immediate. But don't rush into this; in my experience, such actions have always resulted in losses in 99% of cases. Each new order should be preceded by technical analysis.

But if we talk about the main secret of Forex, it's that the faster you make a profit in trading, the faster you lose it. So, if you made 700% of your deposit today, tomorrow you'll likely lose everything you earned plus your initial capital.