IMPROVE YOUR FOREX TRADING

It is a well known fact that the great majority of Forex traders do not make money. However, on the other hand, I think that a lot of people can massively increase their chances of success by following the simple tips below.

Start with a demo account
if you are new to the negotiation, do not risk your money immediately. You will probably lose. The practice on a demo account for a few months, or if you are extremely eager to start, at least a few weeks. The longer the better really. I know what it is that in a first time, you just want to be trading!
Take the time to choose your forex broker
In choosing a forex broker is not a task to be shipped. There is a lot of choice, all have their own strengths and weaknesses. You can enable you to be picky.
Request/offer spreads and the execution are often the most important factors for the merchants in the short term. In the longer term traders may wish to give more attention to the “swap” rates paid by the brokers. Especially if you are looking to make money on the interest rate differentials between the currencies, such as a long AUD/JPY position.

Make sure that you know your complete platform inside out
seems simple, is it not? But in reading the various forums of Forex, it is incredible to see how many people speak to make basic errors, such as incorrect position sizing, stop losses, the limited orders etc.
your trading platform is what you will use to place your orders and commercial, it is therefore essential that you know exactly how it works. Play with the demo account until you know of the platform as the back of your hand.
Have a strategy and stick to it
make impulsive trades which are not part of a trading strategy usually ends in tears. Having a solid strategy which has been carefully tested is imperative. Never deviate from your strategy, no matter how tempting it may be.
Test forward and reverse test of your strategies first
lot of Forex traders as to back test their strategies. This is where you can see how your strategy would have done in the past. There is nothing wrong with this, it may be useful, but only because a strategy that you have created is well behaved in the past, there is no guarantee that the strategy will not work when future tests. That is because when you back test strategies, you are generally “curve fitting” to a certain extent.
Therefore, once you have backtested carefully your strategy, make sure you test it on a demo account for a Good A few months before the online transaction.
Use an appropriate risk management.

Always be sure that you have a solid risk management strategy and never depart from it. For example, you may want to take the risk of 2% of the whole of your account on an exchange. It may be that you want to move your stop to break even when your trade is in increase of 1%. Whatever your decision, do not deviate from it.

Never chase the market,
I know that it is tempting to do a fair trade for you to be “in the market”, but always be patient and obtain the best possible at the entry. This can greatly reduce your risk and improve the chances of your business ending positive.
Do not crow or arrogant.

it is so easy to get cocky when you had a long line to conclude transactions, you can begin to feel invincible. This can lead to a rash and impulsive decisions. Do not forget, when you The Forex, you are a very small fish in a very big pond. You must always respect that to be crowned with success.