Tariq777

A trader's emotion sometime make lay him down. He stake more lots with less capital and try recovering his loss first which leads to another loss in a short time.

InstaForex recommendations for beginners InstaForex Company hopes to make your way to it smoother with the help of the following recommendations Your success on Forex does not depend but on your experience and emotional stability. However, InstaForex Company hopes to make your way to it smoother with the help of the following recommendations. 1. Go for the basics First of all, one should acquire profound knowledge of financial markets and technical analysis, to realize the laws according to which Forex functions and how to make profit on it. 2. Start with a demo account Starting trading on real accounts straight away does not help to obtain the abovementioned knowledge. While you are busy learning the basics, your capital is literally melting due to your lack of experience. You have a great opportunity to train your strategies on a demo account for a month or more. It is impossible to become a professional trader at once. 3. Get to know trading instruments Before beginning work on the market, you should thoroughly examine the technical characteristics of the trading platform you chose and make everything clear. It will then help you to save much time and money. 4. Learn your rights and liabilities Read carefully the documentation, regulating the relations between you and your broker and make sure you have understood everything. You have the right to know all the information concerning your work on the currency market. 5. Begin with small steps You can employ micro forex accounts to start with. Assess your skills and abilities and develop them further operating with minimum investments. 6. Keep your cool Do not go beyond your psychological comfort zone: if you feel that you are losing your cool, pass to smaller amounts. 7. Do not play with fire Do not treat Forex like a money gambling game. As a rule, men of fortune do not manage to stay on this market long. You want forex work to bring you stable income. So, do not ever follow the “sink or swim” principle. Do not put at stake amounts you cannot afford losing. 8. Recognize your defeat You should keep in mind that losses as such are usual constituents of trading on Forex. Make your conclusions and take a philosophical approach to this fact. 9. Trade within the set limits Do not strive for opening as many deals as possible: you may fail to control them all. Trade rationally. Trading on several markets simultaneously is rarely successful at first, since they are regulated by different independent factors. 10. Save the money rather than boost Bring your risks to minimum, even if it results in less profit. Your aim now is to learn how not to waste your capital. At the beginning stage, “saving” is much more important than “boosting”. 11. Consider possible risks There is always a possibility of unexpected risks. You should have a certain financial reserve so that you could use it in case of a force-majeure situation. Analysts suggest investing not more than 50% of the total capital in trading and not over 10% - in a deal. Ponder over what part of these funds you feel ready to lose in case of bad luck. Set your own level of admissible risk (preferably, not over 5%). 12. Mind Stop Loss Do not forget to employ Stop Loss. Improper assets management is the major reason for losses. Stop Loss is meant for preventing your losses, so learn to handle it and set it correctly. 13. Keep away from others’ influence Elaborate your own strategy. Be careful to change it following someone else’s advice. One can carry out one deal only for the whole year and appear to be more successful than many intraday traders. There is no any system suitable for everyone. No one but you bears responsibility for you capital. Once you have shaped your own vision of forex trading and strategy, be critical to what others say to you. Otherwise, you may then regret having followed someone’s recommendation. 14. Control the situation A profitable deal may in fact turn out to be unprofitable. If the trend seems favourable to you, thoroughly monitor your open positions, shift stop signals to protect your profit. 15. Do not go against the trend Remember: trend is your friend. Hoping to earn profit, some invest their money when the trend is moving in an adverse direction. Yet, such a strategy is extremely perilous for a beginner! 16. Retreat if not sure If the situation development falls short of what you have expected, close your positions. You should understand what is going on on the market, as haphazard actions are unreasonable. If you do not feel sure, retreat for a while. Do not waste your time trading unprofitably and do not attempt to have your money back at once. Keep energy to yourself. 17. Make a script of your trading Fix all you do on the market in writing. It helps to develop analyzing skills. Write down the explanations of this or that decision you made, description of its effects and the conclusions you drew. Trade and gain with InstaForex Company!

Maybe not. You must be seeing a downtime in HYIP World now. Lot of people are migrating from HYIP World to the FOREX World

Both are equally important and its not possible to choose a single one of out them, only skill won't help you make money in this market... Experience is equally important

Hi Traders, Lets share your opinions here. All of us talk about the importance of stop loss but take profit is given less importance. Share your experiences about Take Profit.

how much money would you like to have in your trading account to quit your job and be a full time forex trader personally i would like to have more than 5000 thousand dollars in my trading account to be a full time trader how much you would like to have

You can't say it impossible, if you are a pro trader and have a target in mind then nothing is impossible... However if you are expect it with a little capital, that's too hard to do so

Study the market and learn from the experts, after enough knowledge start with a demo account and gradually lead the stairs

For smart and safe trades, you need no less than $10K to start with. This way you can put on stake a little and keep the big capital as a reserve for your trade so even if market moves too fast in opposite direction, your money doesn't disappear

EUR / USD are my favourites, I usually trade on them but rarely on gold usd also

Of cos, FOREX Less chances of losing money than in HYIPs