7 Tips Forex Trading from Professional Traders that You must Do
Forex Trading is one type of investment, which if done correctly promises very attractive profits. What are the tips for successful forex trading in Indonesia? How to trade profitably? What are the tips for becoming a trader?
Forex trading is simple but complicated for some people. Here are 7 tips from experienced traders to maximize profits and minimize losses:
1. Use stop loss
Never trade without using a Stop Loss order, remembering that it can prevent us from things that are unexpected.
2. Fundamental and technical analysis
3. Control Your Emotions
Forex trading can be both fun and confusing. When holding emotions, traders will not be in a hurry to take positions and can avoid losses.
4. Avoid over Trade
Don't add positions just because you feel an opportunity to get more profit. With the right number of positions, we will be able to face the volatile forex, gold and crude oil markets.
5. Use good money management
Limit the amount of loss, the experts suggest limiting the risk of 1% - 3% of the initial capital in one trade. Excessive risk can be dangerous in high volatility.
6. Use multi timeframes
Don't just fix it on just one particular timeframe. If you look at several timeframes, the market direction will appear clearer. Example: comparing the movement of H4 (intraday) with D1 (medium term).
7. Design your trading plan
Penting untuk membuat rencana trading (trading plan), sebagai pedoman trading kita sendiri. "Jika kita gagal untuk merencanakan, berarti kita berencana untuk gagal". Trading plan akan membantu dalam penentuan langkah selanjutnya.
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