No matter how curious you are towards the Forex market, you should understand that in order to have a better understanding of the market, you need first of all trade in Demo account. IFC Markets gives you an opportunity to try yourself in Demo account without any deadline. By this way you will study everything you will need in future real trading. Thus, open a real account and invest real money only when you feel sure you are ready for entering the world of trading.
4. You’d better manage your risks! You do not need to risk more than 2- 20% of your total capital (deposit). Risk management will help you to avoid suffering high losses on any trade.
• Use of stop losses. These orders are for automatic closing of your positions at a particular price so as to limiting losses at the times you do not follow the market. Stop losses are essential for risk management, and require close study.
• Determine your position size based on how much you will lose if the stop- loss has worked at the set price. This loss should not exceed a pre-determined level of risk.
• Control your emotions, which may overrule the situation and make your trading stressful and nervous. Don’t forget that rationality is the key to successful trading.
