A business man never says every facts he knows. Same is in forex trading. Your forex broker will hide many facts about your forex trading. Below are some important real facts about Forex trading that you should keep in mind before starting trading and in your forex future.
If you are planning to trade in the Forex market the following points should be noted
1)FOREX is 80% risky
2)Try to learn about your Forex broker before trading
3)If you deposit small amounts like 50$ or 100$ for trading you will lose the entire amount within one week or so
4)You should never trade in Forex without using INDICATORS/EXPERT ADVISORS
5)You should always connected to the internet while your trading is in progress
WHY FOREX TRADING IS RISKY
Forex trading made many billionaires before and still making new billionaires everyday. But it doesn’t mean everyone can be a billionaire with Forex trading. You should learn about the Forex market and movement of the market before start trading with real money. With your right decisions you can also be a millionaire or billionaire with your investment of few thousands.
Now a days Forex traders jump into the market with out thinking about the risk factor. Sometimes Forex is 100% risky if you are not good in trading. Yet by combing indicators/EA’s you can substantially reduce the risk and generate profit gradually. Forex trading is not such a “quick rich” scheme. If you are depositing 100 USD for trading your account balance will substantially reduce to “ZERO” in span of few days with you wrong decisions. This is also applicable to deposits as small as 50 or 20 USD. So before trading with you real money trade in demo account and learn about trading. Always choose reputed brokers for trading.
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WHY YOU SHOULD KNOW ABOUT YOUR BROKER ?
Internet marketing gurus are promoting Forex brokers at a fast pace without considering the legitimacy of the broker. Some brokers offer initial deposits as small as 50USD. As a matter of fact you will lose the entire amount within no time. Your initial deposit should always be higher. If you are depositing 500usd or more you are in the safe zone.
WHY YOU SHOULD DEPOSIT HIGHER AMOUNTS ?
The higher the amount you are planning to invest the lower will be the risk. Forex is a 24×7 market and majority of Forex marketing hours are highly volatile. Sometimes you cannot secure your deposits in such situations.But a good Indicator/EA can predict the risks and reduce the loss percentage. An initial deposit of 1000USD can help you trade like a pro. You can seek the help of good Indicators or Expert advisors to make great profits.
WHY YOU SHOULD ALWAYS USE EXPERT INDICATORS/FOREX ROBOTS ?
The best way to get succeed in Forex trading is by combining your trading charts with good indicators or expert advisors. There are tons of Indicators/EA in the market. The good ones are those which are developed by trading experts which are not available at free of cost. If you are a programmer you can develop your own indicators/EA’s in MQL4. There are number of indicators in the market which are freely available. But remember one thing that the FREE stuffs won’t help you all the time. It is necessary to add some paid indicators in your chart which will suite your trading strategy. Forex trading robots are the automated trading warriors. They work 24×7 to protect your money from unforeseen market conditions. Read more about automated Forex trading in wikipedia.
READ MORE REAL FACTS ABOUT FOREX TRADING IN MY OTHER POSTS
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