For forex beginners, they do not have much experience in analyzing market trend. If the market price jumps suddenly against traders’ expectation, forex beginners should have methods to control their losses to the lowest. So setting a stop loss is important for forex beginners.
Forex tip No.3: control capital invested in Forex trading
Getting more profit by investing more funds is the idea that many forex traders hold. It may seem reasonable at the first glance, but if you take a second thought, it is incorrect. There are many people who invest all their money in forex trading but only to lose all of them. Even they want a second chance to earn back; they do not have money to invest. How terrible! So in order to avoid such things, forex traders should control capital amount invested in trading, for example, they can invest 5% of fund and reserve the rest into their account.
Forex tip No.4: do not dream of getting rich overnight
Forex market is never a casino, so do not dream of getting rich overnight; that is unrealistic. Forex traders should regard trading as an investment, not a gambling. Their expectation on trading should not be too high. Thus they can have a right attitude in trading.
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