Global forex market has an average daily trading volume of more than 4 trillion u.s. dollars. It makes the forex market to become the world's largest financial market. In addition, the popularity of forex market capable of attracting traders of all levels, ranging from people who have a lot of experience to beginners who are still learning about the world financial markets. Many people give tips for successful forex trading, but there are also some things to avoid when learning trading forex in order to achieve the expected success. These include:
1. Lazy learning about the ins and outs of Forex
How to get into the forex market is easy, but by no means can ignore learning about the ins and outs of forex. Learning forex trading is one step and unified whole to become a successful forex trader.
The majority of learning forex is derived from experience and live trading. However, a trader can also learn the forex market-related factors of Economics and geopolitics of anything that could affect the currency option on the market. A trader must always work hard and prepare everything to face the challenges in conditions, regulation, and happenings that can provide significant dapak on the market. For someone who wants their forex trading skill increases, learn deeply the sentiments and release anything that became a prime mover in the currency market forex.
2. start Forex Trading With Live account prior to learn Forex
The next thing that should be avoided when learning forex is decided to start trading with a real account before it's really ready. We recommend that you don't take the risk for falls directly on the forex markets to learn forex trading is already properly, and have a forex trading system that is reliable, or at least his success in trading in demo account.
There is actually no definite measure of how many times you have to trade on demo account to be able to guarantee your success in the live account forex trading. Indications and signs when you are ready to create a live account is to know why and how to exchange money in the forex market is fickle, and has psychological readiness in the face of the profit and loss that may occur.
3. Using a large capital the first time Forex Trading
At the time it is finished and complete in tugasanya Learn forex, a trader beginners should not use a relatively large capital for the first time forex trading. Because of it, should traders start their forex trading startup with a small capital first.
Factors such as unstable emotions due to predictions of price movement misses, not entirely understood and taken into account, until the trader has been trading live. To start trading with capital is not too large, a trader can conduct a evaluation of planning trading and control his emotions. In addition, traders can also suppress the risks that may arise from any transaction.
4. Have less Attitude both in Trade
In order to become a successful trader, you must have a good attitude and behavior in trading. If you do not have it, You can be sure will be easily exposed to loss. The attitude that needs to be owned by a trader forex includes: patient and disciplined.
Discipline in forex trading is the ability to be patient, calm and wait until you touch the system specific opportunities. Often, the price action does not reach the price you expect. When that happens, the trader should be disciplined for sure with the system and don't assume otherwise. In addition, discipline is also the ability to retreat from the market when your system indicates the need to do that. This condition is especially true for stop loss.
5. No risk management
Things that should be completely avoided when trading is not doing risk management. Because there is no trading system that guarantees 100 percent for no loss, then the key to profit is risk management in trading. Success or failure trading forex is dependent on risk control. This risk control is a method that evaluates the potential loss and taking steps to lower or eliminate the threat of trading it.
6. Do not Protect Trading accounts belonging to
The risk of losing money in forex trading is so large if a trader does not attempt to meindungi account. Proper money management techniques also include factors that support the achievement of success in forex trading.
In addition, part of protecting your trading account is knowing when to accept the loss and continued trading again. Use a stop loss order to protect your account and ensure that the loss is not too large. Traders can also apply the maximum quantity for the daily loss limit of plan and ker