Golden rules for Forex trading

Golden rules for Forex trading, Best Forex Trading Rules, There is no doubt that Forex trading has been accepted by many around the world, because of achieving the greatest wealth in a few time period, there are many important and basic rules in the Forex market.

These rules will help you in the way of permanently taking profits from this market. If you want to learn these golden rules that will help you in the Forex market. You have to fully learn technical analysis methods, which will help you in applying these rules. In the beginning, the currency trading market is not for the unemployed person, that is, you should not quit your job and devote itself to Forex, or consider trading to be your only business.

You must make trading in currencies a secondary business, in order to be able to combine it with any other business in order to be able to reap profits in both areas. If trading is the only source of your work, this will inevitably affect your psyche.

Forex instructions for taking profit in trading
  1. You have to leave deals that are regressive, that is, opposite to the trend.
  2. Be fully confident that if you manage to not reverse the trend, you will get halfway to success.
  3. When a security or commodity is traded between fixed and low prices, this is called the trading domain name.
  4. Most of the time the upper level of the securities trading range represents a price resistance.
  5. Whereas, the lower level of the trading range usually represents price support.
  6. You must also define the target and the time to stop, and not change it, whatever the temptations.
  7. If you change the stop time, the price reverses with you, which increases the percentage of losses unnecessarily.

How to trade in the Forex market?
  • Many traders entering the Forex market are pursuing hopes.
  • You should not trade, following hope, for many who lost in this field were the result of following hope.
  • Where you find the trader buys the hope of returning the price to its entry point so that nothing is lost.
  • With the passage of time, the trader finds himself losing tremendously, until his loss becomes multiple times.
  • You should not enter any booster deals for losing trades at all.
  • It is dangerous for your trading to increase the size of your contracts too much.
  • Because by doing so you put your account margin at great risk, which could lead to losing your entire account.

Trading times in the Forex market
  1. The fatal error in trading is to trade on the Forex market at the time of the news.
  2. You should not trade at the time of the news, because trading at the time of the news has a certain method and strategy.
  3. This method can work or make mistakes, so you must stick to what we mentioned at the beginning of the article, which is.
  4. Not to trade in this market before mastering the science of technical analysis and knowing everything in the market comprehensively.
  5. You should not combine deals, meaning that you do not enter a deal until after you have completed the current deal.
  6. This is because when you enter a lot of deals.
  7. You click on your account and then click on your margin.
  8. As such, you are at risk of losing your account at any moment.
  9. At the end of the article, you have to enter the Forex market, relying on clear reasons and entry points, and not just entering.

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