How to Trade Safely?

[ForexandGirlsIlike]

I just think traders need to know that demo is very essential for anything that involves trading.

I think they do....

 

[galaxy]

I think they do....

I meant in generally which involves newbie as well

 

[Torinnarat]

First, choose a reliable broker for yourself, for me this is the main option, as an addition - this is your strategy, which should also be tested

 

[David_diego]

First, choose a reliable broker for yourself, for me this is the main option, as an addition - this is your strategy, which should also be tested

Yes, brokers play a very important role in a trader's journey. Also, I think it is very important to be active at risk management and taking care of where one puts his funds.

 

[galaxy]

First, choose a reliable broker for yourself, for me this is the main option, as an addition - this is your strategy, which should also be tested

I agree with you on that. It is important to choose the broker which is backed by good regulation, that can helps in making your account much more safer to use.

 

[PipC]

I think trading safely is partly down to the psychology you apply to it. If you become too involved and stake too much of your capital in it, then that's high risk and probably not "safe". But if you're playing small-ball and using it as a bonus earner, having decided your limits, then that's a safe approach.

 

[Adamglysippy]

Trading safely can be done by taking minimum risks and using a smaller amount of your capital in the starting. Expert Advisors are good if you want to trade safely. Never stop learning about forex trading since it will help you to enhance your skills and knowledge which will further help you to trade safely.

 

[KissezLaurrr]

You can trade safely by having proper risk management and a trading plan. Move your trades as per the signals triggered and the latest market analysis, considering both fundamental and technical analysis. Always make a trade journal and review your trades so as to improve your performance for future.

 

[Oswald]

In my opinion there is no safe trading. In every trade you can win or you can lose. It is only a question how you manage risks on this market and how much knowledge you have when it comes to protection of your invested capital. Right?

 

[Zalea]

Best tips for Forex newcomers on how to trade safely:-

1. Get basic Forex knowledge Set achievable trading goals.
2. Never risk all money you have.
3. Control your emotions.
4. Evaluate your performance on a monthly basis.
5. Define a clear strategy.
6. Choose a reliable Forex broker.
7. Use stop-losses.

 

[ForexTus]

Using 1/2% of your trading bank and always use stop losses. Read Mark Douglas. Trading in the Zone. That will give you the correct perspective on trading

 

[Variss]

Ann, if a trader separate invested funds into several deals, than he will be able to spread risk and still engage 100% of funds. However, for completely new trader it is better to leave some funds aside, due to potential high losses which newbies might incur

 

[e_abrams]

Good advice. I'd clarify that by "reliable" broker one usually means "licensed and regulated" broker.

 

[hk_09]

Good advice. I'd clarify that by "reliable" broker one usually means "licensed and regulated" broker.

Yes, regulation is too important. Any specific broker that you're using?

 

[Petrick Liman]

Yes, regulation is too important. Any specific broker that you're using?

The number of regulators is also important

 

[Viceroy]

1. Get basic Forex knowledge
2. Set achievable trading goals
3. Define clear strategy
4. Use stop-losses
5. Never risk all money you have
6. Control your emotions
7. Evaluate your performance on a monthly basis
8. Choose a reliable Forex broker
9. Get and analyze your trading journal

10. Read point #4 10 times!)))

 

[e_abrams]

Stop loss is useful if one knows how to place it properly. Otherwise it just leads to more losses.

 

[Dora_WalletInvestor]

10. Read point #4 10 times!)))

Hahah, good point! Stop loss orders can save you a lot of trouble.

 

[Todor]

Best tips for Forex newcomers on how to trade safely:-

1. Get basic Forex knowledge Set achievable trading goals.
2. Never risk all money you have.
3. Control your emotions.
4. Evaluate your performance on a monthly basis.
5. Define a clear strategy.
6. Choose a reliable Forex broker.
7. Use stop-losses.

You have covered all the relevant points which are important for traders so that they can trade safely.

 

[Resolve]

You have covered all the relevant points which are important for traders so that they can trade safely.

The most important factor for any Forex trader is the proper use of the Stop Loss targets.