Aspects to consider before you trade in FOREX

[omar.elalfy]

Some of the aspects that traders must have in mind before starting to trade are: time in when the currency value is expected to go up, another aspects is to conceder your chances of loosing or wining, or even by trying to predict which currencies’ values can make you gain more money. In my own experiences these three factors have been very successful to make significant trades; even thought I am

even thought I am still a beginner at FOREX.

So, what are some of the aspects you consider before you trade at Forex?

[yb3889]

In my view we must understand charts well, yep i believe charting works

Because most of the forex traders follow charts and indicators and all enter in trade when get a buy or sell signal

Lot of position in trade around the world help the market move in the direction chart indicates.

[dhanpreet]

First, read about the success stories as well as the failure stories and be aware that 95% of traders will end in loss.

Then decide whether that's a risk you are willing to take--or not!

[Aikhen]

In my opinion you must be ready both in terms of money and emotion. Dealing in forex can be difficult if you are lack on funds, it is more difficult when you are emotionally stressed because you cannot think clearly when the trade goes down. Considering this two factor is very important to be successful in dealing with traders.

[tprhzm2009]

Cause we know , forex is a high risk program, so it is necessory for us to make better preparation before starting trading in forex, I think there are two important aspects which you have to take into account, firstly money management , secondly risk mangement. of course, It is a long time for us to learn it.

[standart]

The aspect that I consider to trading in forex is completing me with all knowledge that maybe important to use in trading, such as technical and fundamental analysis, and money and emotion management. that is important aspect in trading.

[chuna1985]

In my opinion, before anyone should venture into forex, they should be sure to have tested their trading ability using a demo account before they venture into it.

[boniez]

of course everyone will say that we need to train it on a demo account, yes indeed it is true and very necessary, impossible if we do something without a preceded by a practice or theory

[standart]

Important aspect for me before start trading is practice, know what is spread, laverage and the most important is risk. because risk is a part of forex trading. the risk cannot be vanish but can reduced by know many thing about forex trading.

[sirwilly]

Yea, risk management is supreme in Forex. A good risk manager is often the trader who makes profits. It's like trading in reverse or taking care of the pence so that the pounds will take care of themselves. When risk is minimized, then the chances of success improves.

[yogeshwartyagi]

Well everyone enters to gain profit - but one should never ignore the fact that

the same trade may result in loss too - so be prepare for that and never chase the market trendz

when you realize your move was not right - better exit that trade and dont wait to increase the loss - other wise most of the time going with trendz will make nice profit.

[Legendkid]

That's one good advice.Yogesh.If we keep going from trend to trend,the lose become heavy,it's just like the headortail game,if we want to regain our loss,it just the reverse side that we see.We loss all our money.Only then can one calm down and start counting his loss.The best advice is if one start losing too much,he better exit trading and do something else.the probability of him regaining him loss are very slim,too slim infact.

[indieover]

but some traders can still make profit even if they were losing. they can wait patiently till the trend change to their favor. but for me it is hard to wait . i just close the trade to avoid further loss.

[sirwilly]

Sometimes, holding onto a losing position on account of hope may just turn out to be foolishness...better to have concrete reasons why the trend should change or reverse.

[flybiz08]

The analytical aspect is one very vital aspect I consider before trading the forex market. I always make sure that all fundamental and technical analysis are properly in place and in favour of the trade I am about to trade. Otherwise, I do not take the trade.

[charlly007]

Some of the aspects that traders must have in mind before starting to trade are: time in when the currency value is expected to go up, another aspects is to conceder your chances of loosing or wining, or even by trying to predict which currencies’ values can make you gain more money. In my own experiences these three factors have been very successful to make significant trades; even thought I am

even thought I am still a beginner at FOREX.

So, what are some of the aspects you consider before you trade at Forex?

 

Acutally,i haven't given this any thought at all but from what you posted here,i think i will have to consider that before getting fully involved with trading forex.Considering the time when the value of the ecurrency we have or what to exchange goes up is one of the key thing we must do.

[indieover]

for me it is important to give enough time to learn and to be diligent . as we must prepare ourselves in the amount of time we have to give in learning forex. it is not something that we can just learn a few things and start raking up with profits.

[Sixteen]

I think when considering, we should consider about making profit and also about making losees. It just like predicting the market outcome and giving bet for a currency to rise in the future. The forex market is a large market and to win here, we have to have a good strategy that always works for us inorder to earn profit and minimize loses.

[brokenblade]

I think that understanding the charts is important. I also believe that looking out for news on the market conditions is also important. Understanding that the success rate in Forex trading is actually very low is also very important. You need to learn about stop loss and all of the other aspects of the trading activity which are designed to help limit your losses. When it comes to Forex trading, knowledge truly is power.

[budado]

I think that understanding the charts is important. I also believe that looking out for news on the market conditions is also important. Understanding that the success rate in Forex trading is actually very low is also very important. You need to learn about stop loss and all of the other aspects of the trading activity which are designed to help limit your losses. When it comes to Forex trading, knowledge truly is power.

Its really important to use both fundamental and technical analysis. I use fundamental analysis sot have a clear view on what is the direction of the pair that I'm trading in a day, a week and a month. Now I have a clear picture I'm going to focus on technical analysis and in this my concentration is now base on right price to open a position. In short fundamental analysis is for direction, technical analysis is for timing.

[riddick09]

Yes, a good trader usually consider both analysis. But then most of the trader do only focus in the technical analysis which usually can predict or can give them good outcome or signal while it is really good if we do see other signals also as we see many daily technical analysis in different sites and we can get hints for a good position.

[budado]

Yes, a good trader usually consider both analysis. But then most of the trader do only focus in the technical analysis which usually can predict or can give them good outcome or signal while it is really good if we do see other signals also as we see many daily technical analysis in different sites and we can get hints for a good position.

If that is the case its better that we do technical analysis if we are doing short term trading but if we are doing long term trading its better theirs some support from fundamental analysis as theirs really a hard time earning in forex if we don't know what we are doing.

And also just to make profit in either way. try to have two accounts and try to trade reverse trading in two accounts. I'm sure you going to earn either way. lols.

[pepy]

for me the aspect that we must consider is chart because with that thing, we can predict how the pairs that we choose to trade move , another thing is broker, choose the right and good broker that we feel comfortable with , will help us to trade well, and i don't think pairs is something that will be considered

[rizal83]

before I started trading I just apply a bit of some aspects that I run that I would make a capital account with the lot size that I use to strengthen the resilience of pips and minimize the risk of a margin call my trade, I would then take a break and calm my mind before doing trade because trade ytang it requires very high concentrations in analyzing market movements and also in making decisions

[euro]

Have you learned all the languages of fundamental and technical yet? You have to know all of them. then you must do good in a demo. Once you do well in a demo and show signs of your abilities to make profit then you should proceed to a real account. If you keep on losing after like five demo accounts, then it shows that you do not know how to take a profit then you need to practice some more or not consider forex as a trading gig for you. Its best that you keep your day job as there is a high risk with forex and its not stable enough to pay all of your bills for your babies. You need to also know how to tread charts and managed all of your risks and losses to do it better.