How to avoid countless losses via forex trading

[Koldej]

This is really an eye opener, but I don't really think forex trading is a way for me, I find forex trading too risky and the way some people loose all their savings to forex is Soo pathetic although I believe you can easily make money too with forex, but the basic thing is to be very careful

 

[Bilal0087]

To become successful through forex trading their are some rules you need to observe and respect. If one fails to adhere to those requirements, problem follows, that might result to series of losses. In order to succeed in forex trading you need to avoid this rules.

The rules are as follows;

* Always trade when it is the right time, follow trading signals. Join group of expert forex traders and partake in their conversation to ascertain when it is right and wrong to invest your funds to trade.

* Don't trade when you are feeling emotional.

* Use a forex broker for a step by step guideness and realtime forex trading updates, and analysis.

* Don't spend what you can't afford to lose. Always make sure that you can take losses without suffering from the setback.

* Don't enroll into forex trading when you have minimal expertise to succeed. Always seek mentorship from expert and learn about the basics of trading forex.

* Don't start trading because you heard that people are making money through it. You must be passionate about forex trading. See yourself that you can succeed with forex trading.

These are very informative and effective tips for Forex trading. I am also thinking to start learning Forex trading but unfortunately I don't have huge money to invest and learn it practically, but soon I will join some trading groups of experts and learn it

 

[Sincerem]

Ok, this is a very good thread, and it will be useful for all beginner forex traders, and I just want to add an important point that people often forget, that is, never take a grudge, meaning if yesterday you got a loss, then you learn forex trading with the intention for revenge for profit, in my opinion this is very dangerous, because we get an extra burden that will affect emotions and decision making,

Very excellent dear, anyone taking grudges long over the next day. Has him or herself to blame cos emotions will overshadow his or her progress towards recovering from yesterdays setback. Instead of making profits the person will be sinking deep, making more losses likewise in gambling.

 

[Seun4luv]

Do Your Homework. Find a Reputable Broker.Use a Practice Account and keep Charts Clean. Protect Your trading Account.
Start Small When Going Live.
Use Reasonable Leverage and keep Good Records.

 

[Sincerem]

Do Your Homework. Find a Reputable Broker.Use a Practice Account and keep Charts Clean. Protect Your trading Account.
Start Small When Going Live.
Use Reasonable Leverage and keep Good Records.

Thanks for this guide, I have a broker I'm using, FXTM broker. The provide analysis for trading course, real trading market updates, concerning the current trends on each coins. Signals, and step by step examples on how to start trading and make better use of my time to make profit.

 

[Khezo]

A lot of good points as been mentioned above but let me emphasize on some
Never be greed when it comes to forex trading
Do be in a rush to place a trade be careful and study the market well before doing anything

 

[chicnthin]

I like what you said with the last one. A lot of people wants to invest just because they have heard that other are making money from it and they assume that they will get the same. But without knowing how to analyze about forex trading, that won't be possible.

 

[Sanusi]

If you want to become a profitable trader in the world of forex you have to avoid some countless loss like before you place a trade you will need to check your NFP(non farm payroll) at all times because there are some specific news that affect the market like if nfp gave you the indication that a certain currency is red so its means that you should leave the trade for like 2 to 3 hours and your leverage should not be more than 0.01

 

[Heatman]

To become successful through forex trading their are some rules you need to observe and respect. If one fails to adhere to those requirements, problem follows, that might result to series of losses. In order to succeed in forex trading you need to avoid this rules.

The rules are as follows;

* Always trade when it is the right time, follow trading signals. Join group of expert forex traders and partake in their conversation to ascertain when it is right and wrong to invest your funds to trade.

* Don't trade when you are feeling emotional.

* Use a forex broker for a step by step guideness and realtime forex trading updates, and analysis.

* Don't spend what you can't afford to lose. Always make sure that you can take losses without suffering from the setback.

* Don't enroll into forex trading when you have minimal expertise to succeed. Always seek mentorship from expert and learn about the basics of trading forex.

* Don't start trading because you heard that people are making money through it. You must be passionate about forex trading. See yourself that you can succeed with forex trading.

About using these brokers, one need to be careful with one's choice because some of them can give you a wrong information and you end up losing lots of money. Did you hear with happened with Tradera?

 

[Sincerem]

About using these brokers, one need to be careful with one's choice because some of them can give you a wrong information and you end up losing lots of money. Did you hear with happened with Tradera?

That's true, most of this trading brokers, gives unsatisfactory information when put at work it yields zero results. Making a trader to incure more insignificant losses that he would not succumb to, when gained adequate knowledge. Please what happened with Traders??

 

[Heatman]

That's true, most of this trading brokers, gives unsatisfactory information when put at work it yields zero results. Making a trader to incure more insignificant losses that he would not succumb to, when gained adequate knowledge. Please what happened with Traders??

It's Tradera. They poised themselves as a Forex trading academy which also gives forex trading signals. They also run a referral program where you can earn money where you join them with $99 fee. They still ended up last year and closed up.

 

[Klashlly]

To avoid countless losses via forex trading​

Most losses in the Forex market are the result of flawed preparation. And in every case, the loss can be prevented by doing nothing.

Of course, to make money, you have to do something.
But most of the losses you take each month can, in fact, be prevented. Today I’m going to share with you five ways you can reduce the number of losing trades you’re currently experiencing.

By doing this, you will improve your bottom line and be one step closer to enjoying consistent profits.

 

[Heatman]

Do Your Homework. Find a Reputable Broker.Use a Practice Account and keep Charts Clean. Protect Your trading Account.
Start Small When Going Live.
Use Reasonable Leverage and keep Good Records.

Starting small in forex is very important especially when you are still new to the industry. There is no way you won't encounter loss even with all the trading signals and alert you get. So, when you don't get too greedy with how you trade, then your loss won't be huge.

 

[giddy]

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

 

[Janita]

I think we should stay away from trading work either it is forex trading or mining , i know there are lot's or money a person can become rich in a very few time but yeah it may losses all the investment at any stage because it also dealt with the big stocks so if we invest in the business than it will be better , as i am newbie in this field but i can feel when we loss something what is our emotions after lost.

 

[alberello75]

Forex trading is excellent for those who have mastered the skills and are disciplined enough. Just as you mentioned being passionate about it, that has disqualified me from the trade. I would rather trade through an expert.

One question, dear friend.
Initially I saw in the Forex, a kind of gambling, where winning or losing!
But the continuous subsequent phone calls (obviously after I lost on the first try!), where they wanted to try to convince me, that Forex is not a game, but a job!
I have never believed in this, but only bored by the incessant telephone calls that I received daily!
But, are instead you agree with their own statement?
Thank you in advanced.

 

[Ralphjoe]

Most people start trading forex without getting to know the requisite knowledge for trading in forex, this is the major reason why they loose all the time, forex trading will be a gamble for suck kinds of people because what they will be doing is prediction instead of trading.
Intuition using is not good for a forex trader due to the enormous risk involved in trading forex, instead forex trading deals on a methodical, systematic strategies of trading.

 

[Niftyyem]

One question, dear friend.
Initially I saw in the Forex, a kind of gambling, where winning or losing!
But the continuous subsequent phone calls (obviously after I lost on the first try!), where they wanted to try to convince me, that Forex is not a game, but a job!
I have never believed in this, but only bored by the incessant telephone calls that I received daily!
But, are instead you agree with their own statement?
Thank you in advanced.

Well, if it is a job, then it is not every job one is qualified for. I disagree with the statement because it should be for those with the interest and knowledge for the field so as to avoid unnecessary losses.

 

[Donkiz]

You are right, these steps are good, some of the steps there can be said to be one of the reasons why I lost money while trading, although I followed the instructions that I was given after months of training, little did I know that I require to look for means to get signals before I trade, luckily for me I didn't deposit more than I can afford to lose.

 

[Aniwhyte]

You nailed everything on your writeup, but there really isn't a perfect expert when it comes to forex trading as even an expert might still loose huge amount of money on it. Also if one is starting newly it is advisable to join groups that posts fresh updates and give signals. That way your looses would be minimized.