SL good for people with bigger margins only, without SL markets can turn to ur favour, i believe it’s good for a trader to BE SL not SET a SL
I think that if you’re trading, you should forget the word security. Either way, you have a percentage of risk, you can reduce the amount of your investment in order to reduce your risk or, for example, reduce your trading leverage. The main way to protect yourself from losses is to have a good trading system, but you need to find it and make sure that it is really strong.
Kerry ,please which broker are you trading with?
You can reduce the risks by making informed decisions and controlling your emotions. The most important measure you can take to keep your money safe is to pay close attention to risk management. Stop loss is your friend and is the one tool that helps you prevent big losses.
Hmmm… Yeah That seems like a good approach. Keeps emotions away too, right?
Dealing with the risks is a very important thing in the forex market.You should make a plan to manage the risks properly and make money from this market by dealing the risk factor of your trade.
Money Management and Risk Management is a secure trading idea for every trader. If a trader ignores these two things, he will never be successful in trading. There must be a loss in trading. To cover this loss, it is very important to use risk rewards. Another issue is to maintain trading discipline. Safe trading is not possible without discipline in trading.
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This is good info. It really takes a while to be good at this.
To trade safely, you must follow some rules and regulations. Every trader has a dream to create a bright future by trading. That dream is fulfilled when he acts according to discipline. To trade safely, you must trade by money management and risk management. These two things are a very important part of trading. No matter how good a strategy you use, trading will be a loss because it is a market of possibilities. In this case, risk-reward and money management will cover that loss and move towards profit.
If you want to trade safely in the forex market, you have to make a good plan. A good plan can make you rich.
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I believe the same.
- Risk a fixed amount, like 2/3% per position
- Don’t double expose yourself, opening 2 positions with the same currency
- Don’t add to a position you are already involved in
- Make quality analysis
- Be extremely picky with your setups
- Rely on longer time frames more than on shorter ones.
- Horizontal levels of S/R are more valid than diagonal ones.
Most importantly, put yourself in a headspace where…even if you lose the position, you’d still be happy, because you can’t find anything wrong with your reasoning for entering it in the first place.
Correct! Without a solid plan, one definitely puts the funds at greater risk.
That’s a very valuable guidance, risk management is another factor which will ensure safe trades.
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Use less leverage and trade small in the beginning.
It is always better to take bigger risks like using higher leverage ratio, trading bigger lots, only after gaining substantial experience in the market. It takes a while before one begins to understand the market dynamics.
Have strong fundamentals, learn as much as your can about it from reliable sources. Learning about forex is integral to a trader’s success. While the majority of trading knowledge comes from live trading and experience. But to make some sense if you’re just starting then you should check out these free resources to become familiar with the market terminology
Forex trading is safe if you would be doing the selection of the brokerage account properly and firm. Wrong firms or brokerage account may lead you to bankruptcy.
To be honest I doubt that anyone can ever trade safely. There is always going to be an element of risk involved no matter how careful you try to be, and how knowledgeable you feel you are, and even with years of experience to back you up you can still lose money. Trends matter a lot and you need to evaluate them very carefully and also have a good strategy. And you need to establish what is going on an act in the right time and with the right frame of mind.
This isn’t difficult as one might think I guess. Everything novice has to do is to comply with risk management practicies and of course money management practicies as well. I’m sure that the mastering of risk management will immediately change the way of your trading activity because you start to understand how to control everything in trading. Risk management implies no more than 1-3% of deposit per deal. Plus you have to pay attention to the graphics of an asset, you need to think properly before you open a position whether long or short. Look at the graphics, diefferent timeframes, your work timeframe and make conclusions accroding to this data. Sometimes it’s quite useful not to enter a deal at all.
In my opinion, safe trading isn’t hard as it might seems. Everything you need is a thoroughly elaborated trading strategy, knowledge in risk management and money management and it’s preferable to choose less volatile assets (for example gold sometimes can be a less volatile asset). Such approach guarantees you a stable income in perspective, but it can be quite difficult to boost your account from a small deposit. Maybe you can boost your account from small amount of deposit via rushing, but I actually don’t advise you such strategy. However it’s incorrect to promise smbd a guaranteed income, but with safe trading you have more chances to come to it.