3 Tips for beginners starting Forex

3 Tips for beginners starting Forex

I am still a beginner but I have a suggestion for friends who want to start forex. Some of the following forex trading suggestions can help eliminate doubt in starting forex.

1. Limiting Risk The first forex trading advice for friends is related to many things, for example the amount of nominal you deposit and the amount of Stop Loss determined. Try to make your deposit amount a loss that you can tolerate. you should not use daily necessities. One thing to remember, the tolerance limit between one trader and another trader is not the same.
As a beginner trader, you can try with a 1-3% risk measure first. If after trading several times then you feel the size of 1-3% is too heavy, do not get carried away with emotion and finally without good management you will continue to lose money.

2. Stop Loss
Required for beginner traders, the next forex trading advice is to pay attention to Stop Loss. Because if you don't pay attention, the loss will continue. Even senior traders always use stop loss.
As good as any analysis and as sophisticated as the trading strategy used, you must still determine Stop Loss as early protection.

3. Don't Use Margin More Than 20% Per Trading

Avoid doing Open Position using Margin above 20% is the second forex trading suggestion. In accordance with the principle of safe playing forex, use Margin below 20%, so that the rest can be used to hold losses (losses) when the price of the currency moves in the opposite direction you expect.
As a beginner trader, you should not be too eager when you see a large potential profit, so you decide to install high margins. Forex trading is a transaction with High Risk High Return: the amount of profit is also proportional to the amount of risk. So you must be careful in determining margins. Do not let Loss and Loss 😊

Maybe there are friends who want to add ?

Hello, maybe I will add that there is a good analysis and psychological factors that must be controlled. trading is even better, because trading is not just about MM.

3 Tips for beginners starting Forex

I am still a beginner but I have a suggestion for friends who want to start forex. Some of the following forex trading suggestions can help eliminate doubt in starting forex.

1. Limiting Risk The first forex trading advice for friends is related to many things, for example the amount of nominal you deposit and the amount of Stop Loss determined. Try to make your deposit amount a loss that you can tolerate. you should not use daily necessities. One thing to remember, the tolerance limit between one trader and another trader is not the same.
As a beginner trader, you can try with a 1-3% risk measure first. If after trading several times then you feel the size of 1-3% is too heavy, do not get carried away with emotion and finally without good management you will continue to lose money.

2. Stop Loss
Required for beginner traders, the next forex trading advice is to pay attention to Stop Loss. Because if you don't pay attention, the loss will continue. Even senior traders always use stop loss.
As good as any analysis and as sophisticated as the trading strategy used, you must still determine Stop Loss as early protection.

3. Don't Use Margin More Than 20% Per Trading

Avoid doing Open Position using Margin above 20% is the second forex trading suggestion. In accordance with the principle of safe playing forex, use Margin below 20%, so that the rest can be used to hold losses (losses) when the price of the currency moves in the opposite direction you expect.
As a beginner trader, you should not be too eager when you see a large potential profit, so you decide to install high margins. Forex trading is a transaction with High Risk High Return: the amount of profit is also proportional to the amount of risk. So you must be careful in determining margins. Do not let Loss and Loss 😊

Maybe there are friends who want to add ?