The FOREX market promises tempting opportunities for enrichment - it is no coincidence that more and more newcomers are joining the ranks of traders. But out of a hundred who came to this market with a profit, no more than three to five people will remain, and only a few manage to get a solid income. In order not to be among the losers, you should know some of the rules of work in this market.
Instructions
Step 1
It is very easy to start working on the FOREX market. Type in the search box "forex", you will see many dealing centers offering their services. Open an account on one of them, put at least $ 10 on it (you can pay by credit card, through the WebMoney service, etc.). Download a trading terminal, usually mt4.
Step 2
Start with a demo account. This will allow you to learn how to work with a trading terminal, master the basic techniques of trading without risking real money. On a demo account, you can work out various trading strategies. Switch to real trading only after you have learned not to lose at least.
Step 3
Remember that trading on a demo account and real work are very different psychologically. The basis of successful Forex trading lies not so much in the strategy used, the indicators and advisors used, etc., but in the correct psychological mood. All techniques can be learned, and a suitable strategy can be found. But without the right mental attitude, you are doomed to failure.
Step 4
What should be the psychological attitude of a trader? First of all, there should be no excitement. Absolute composure, lack of haste is required. Remember: any action taken in a hurry will lead to failure. This rule is very important. Take your time, don't chase after "elusive" opportunities - they were and will be. Forex does not forgive mistakes, you will be convinced of this from your own experience.
Step 5
Always follow a pre-selected strategy and never break it while trading. You can change it after exiting the market, but not when you are trading. Analyze your mistakes carefully. If you play with lots larger than 0.01, then after each loss, halve the lot you enter the market with. If you get a series of successful entries, increase the lot by about 20% each time. The alternation of luck and failure is a natural process. By limiting losses on black days and increasing income on good days, you will be able to stay in the black over the long haul.
Step 6
Once you have deposited money in a trading account, treat it as if it has already been lost. Be focused on winning, but do not desire it - this is a very subtle point. The desire to win leads to loss. At the same time, calm self-confidence, the attitude to win lead to profit taking. Having won, do not rejoice. After losing, do not be upset. Analyze your mistakes, look for winning strategies. Forex loves smart and patient traders - if you don't back down and are constantly looking for opportunities to win, one day you will surely find them.
