Based on statistics, some 80 to 90% of traders lose consistently for the long term during trading. Even a lot of traders who can not survive in the first year. Therefore I have a little tips for traders who have just jumped in forex. Can not be denied, the world of Forex is very adrenaline. This is what usually makes people lose common sense during trading. One of the most common is that traders assume that traders who can profit consistently are those who have the Holy Grail (a perfect system), but do not want to share. The reality is that trading is actually almost the same as doing business. In the business you have to take risks, get the benefits if true, lose money if wrong.
For that on this occasion, I would like to share some important points that may be used as a guide for you as a beginner trader can get away with at least in your first year:
1. Focus on building your initial capital. Do not take a high risk trading position. You will quickly lose money, plus usually beginners there is a sense of want to revenge at the time of loss. This is what makes you very quickly lose money. Along with the small gains, you will learn a lot.
2. Never lose more than 2% of your capital in 1 position.
3. Never use a paid service to learn trading, unless you know and you really know.
4. Find experienced traders and learn from them through real life and social media.
5. Never trade without a trading plan. A good trading plan is systematic (have clear positioning rules, clear money management and clear cut loss solutions when price moves are not as you wish).
6. Use your time as well as possible to always learn before you put a position on your real account. If you are lazy to spend time reading trading books or from online media, I advise you not to use your real account for trading.
By using our tools HOTEAFOREX you will find it easier to achieve what you want and make it easier for you to analyze and manage your money.