Trading safely is just a thing which must be complied by all traders who want to becom successful in this activity, you know. All they have to do is just to comply with risk management and money management practices. Set no more than 1-3% of their deposit per deal, and wisely weigh the opportunities of market entry and exit. It’s very significant part of trading as well as psychology, theoretical base and stuff like that. I’m convinced that it’s really not hard to comply with these two things, because these things are fundamental and must be learnt on the very initial stages of novices and never be forgotten.
trading safely is not so difficult, just choose the simplest strategies and work with a reliable broker, and all the problems will be solved
Trading safely is not that difficult, you just need to know how to manage your risks. No doubt, losses are inevitable but keeping higher risk/reward should be the goal of a trader. It’s never a wise option to risk all your money.
Guess that there is nothing difficult to trade safely, the only things you should have are compliance with risk and money management practices. Moreover, you have to pay attention to your trading strategy because it also shouldn’t be rushing strategy, probably it should be restrained. Of course it might take enough time for you in order to learn how to trade safely, lots of things depend on your trading style and timeframe. For example, you shouldn’t pick scalping as the primary option in trading, because it’s not about safety at all. Intraday is the point where you can start, or you can pick investing, it’s the safest option.
Practice is the key to achieve success in the Forex Market and if you want to practice risk-free, you must trade with the help of Demo Account.
There is nothing seriously difficult in trading safely actually. Everything you have to do is just to comply with risk management and money management practices. Of course, it only sounds difficult, but the main idea is just not to rushing and think properly before openning a position. Concerning risk management practices, then you perhaps should open a position with no more than 2-4% of your deposit and choose only those assets which aren’t so volatile, for example, you’d better stay off cryptocurrency. That’s all you have to do in order to save your deposit and trung trading activity into a profitable one.
There is nothing safe in Forex Trading, you are going to lose money at some point, all you need to ensure is that you make more money than you lose.
I agree with you, the forex market is unpredictable but the one with sufficient forex knowledge can deal with any risk and loss.
Yes, and to trade safely, you are required to learn a lot about the Forex Market.
I am a new user. Please help me to understand trading.
@waltoncharles Go through the School of Pipsology (Learn How to Trade the Markets). It will help you understand the basics of forex trading.
Exactly, school of pipsology is one of the best mediums to learn forex trading, I also started learning from there only.
Trading comes with its fair share of risks, be it volatility or money management. You need to be well prepared first - know the market you are trading in, understand indicators, examine the indices and protect your capital. These are some ways that you can analyze to trade safely.
Forex trading will always be risky, but you can minimise risks by implementing tested strategies.
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Always trade with a stop loss.
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Place a T/P order.
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Do not let greed take over you.
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I know the text book says 1-2% ,some will chose somewhere above or below.
But i didnt get to “chose”,because my lot size chose its own capital amount,im just the guy who click button
To be honest, it depends on your trading strategy. You may take on greater risk if you have a solid system that you can rely on.
As a beginner I use stop and loss to trade safely.
Use a Stop Loss - The best trading ever!
For safe trading, always use stop loss and do not indulge in over-trading.
My opinion is the same as yours. To identify specific exit points for each trade, a trading plan should include stop-loss prices and profit targets that will enhance possibilities of making the right trade.