Basic Forex secrets.

Trading on any of the financial exchanges is quite difficult, and even more so on Forex, so in the latter case there are a lot of important features, knowledge of which allows you to avoid a lot of troubles.

Forex secrets are actually the key to break-even trading in the foreign exchange market, unfortunately this is not the Grail with which you can always make a profit, but if you are already familiar with trading, then you know that at the initial stage it is important not only to make a profit, but also to simply preservation of existing capital.

Therefore, the list of such secrets includes not only trading recommendations, but also money management tips.

Forex secrets with which you can achieve success in Forex.

1. Minimum leverage – a beginner always wants to immediately increase the amount of available funds several hundred times, but this is precisely one of the most common mistakes.

Never start trading with a leverage of more than 1:50. Switching to riskier margin trading options is possible after at least a year of trading. 2. Don’t rush – research conducted by one of the analytical companies revealed a strong dependence of trading efficiency on the number of transactions.

That is, those traders who open transactions more often receive less profit than their more cautious colleagues. Ideally, you should not open more than one or two orders per day. 3. Stop orders - thousands of articles have been written about the stop loss order, but almost every beginner loses his first deposit precisely because he does not place this order.

If you are not sure about the size of the stop order, then first set its size at 10% of the transaction amount, and then adjust this parameter. 4. Choosing the right intermediary - when choosing dealing centers for Forex trading , carefully read the contract and other documents, and do not hesitate to clarify any questions you have with the support service.

So that you don’t encounter an unpleasant surprise later, which will cause your account to be blocked or lead to losses. 5. Use of scripts and indicators - for some reason no one has a question whether to count manually or take a calculator, but some traders are in no hurry to use technical analysis indicators and auxiliary programs.

6. Do not use complex strategies - these include scalping, Martingale and some other trading options.

Also, for several years now, most of the professionals have abandoned trading only using fundamental analysis. 7. Avoid spontaneous movements - very often price jumps happen in Forex, and you immediately want to open a trade in the direction of the breakthrough.

But don’t rush to do this; in my practice, such actions have always led to losses in 99% of cases. Each new order must be preceded by technical analysis. But if we talk about the main secret of Forex, it lies in the fact that the faster you earn profit in trading, the faster you lose it. That is, if today you made 700% of your deposit amount, then tomorrow you will most likely lose everything you earned plus your initial capital.