3 Ways to Avoid Loosing Money on Forex

3 Ways to Avoid Loosing Money on Forex

When entering a forex business, you must be prepared enough not to loose your money on your trades.

There are few things I would like to share with you not to loose money on forex

1.Never start forex trading without a training

To make it in forex you need to have skills to navigate the currency market. You must know about the risks involved in entering a trade. As any other tradings, you may gain or loose.

So, for you to be a better trader, you need to get an intensive training on forex. The training must enable you to spot a beneficial entry point for your trade. You must be able to understand the volatility of the market.

2.Do not Risk more than 10% per trade

Some traders get carried away by the performances of the demo account and tries to implement what they do on the demo account on the real account.

When you are entering a trade, make sure that you trade with an amount less than 10% on you trade account. This way, even if you lose on a trade you know how much you are willing to lose or risk. Do not get carried away and trade with more money as you may loose your money quickly.

3.Trade on confirmation not on guessing

You must be able to analyse previous market trends and to accurately make a trade on confirmation not trading as a gambler.

If you make your analysis of the markets, you can be able to make profitable trades.

Some people just trade based on what they expect the market to do not having analysed the previous market trends.

As I said on point number one that for one to start forex trading, an intensive training is required. If you have adequate training, you should be able to analyse the market and enter on profitable trades.

I hope this has given you some insight and you should be able to avoid loosing your money on forex.