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| Newbie Forex Traders |
Well there are millions of Forex traders all over the world. Everyday new Forex traders joins the Forex market. It is now easy to join Forex market through the advancement of the internet. Forex trading is like a business and every newbies should treat it like one. I know out of millions only thousands will remain on the Forex market for long and rest of them will end up losing on the Forex market. Why is this? Because i heard and saw and also read that many newbies want to start Forex trading because they want to get rich quickly. This is something that will always make you a loser on Forex market cause nothing in the world will make you rich faster and not even Forex trading. Why newbies think like this? They think like this because Forex market is the most liquid market of all. This is many times bigger than all the stock market in the world combined. And everyday about trillion dollars are hand changed all over the world. Even in a single minute you can gain a lot of pips or profit. And also many of the online Forex brokers allows leverage by which you can trade huge amount of volume with low capital. So by this advancement the newbie Forex traders thinks that it will be easy to invest money and grab huge pips with high volume lots. But the problem is they don't study the market and also they don't use stop loss or proper money management while trading. This causes them huge money and they lose money n the mean time. So Here in my post a simple strategy will help you a lot in your Forex career. That is use stoploss in every trade and also use take profit bigger than stop loss. Think like this say you place stop loss 50 pips and take profit 150 pips and you open 10 trades. Ok now if you lose six trades and than win 4 trades than still you are gonna be in profit. This is because 150 pips gains is three times the 50 pips loss. And if you lose 6 trades than you lost 300 pips but winning four trades you won 600 pips almost the double. So here 300 pips is the total profit. Use this trick on your trade in Forex and you will master in the Forex market for sure. Don't ever ignore stop loss because it will ruin your entire account and will create problem in your Forex career. So that's it for now. I will post later about some more Forex strategies and Forex indicators. Take care friends.
