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Starter In The World Forex?
This is a continuation of the article 'previous post' (read from the beginning: Here ...)
but if my friend wants to start from scratch trader would not hurt please click >> (read from the beginning: Start here ...)
but if my friend wants to start from scratch trader would not hurt please click >> (read from the beginning: Start here ...)
10. Choosing the Right Pair
In Forex, there is one term that must be known. That term is a currency pair.
Currency pair is traded currency pair in the Forex. Pair is usually represented in the form of USD / IDR or EUR / USD. But choosing a currency pair can be a challenge. Errors in selecting the pair will actually make Forex trading actors have difficulty in obtaining sufficient profits stable.
Generally, a lot of people who prefer to choose a currency pair cross. Many reasons underlying it, but most people chose the pair because its movement is quite interactive.
For beginners pair is often played a lot for example included in the category of 'Major Pair'. Because the currency pair like the USD vs. the Yen and the Euro vs. the USD or GBP vs. USD to couples who are quite popular in the Forex.
To determine the choice, you do have to know the last movement of each pair there. From here, you can find out where the pair are included in the category saturated and where the pair are included in the category ranging. If you want to get a quick fight, you can choose the pairs who were experiencing turmoil. It should be noted, also be sure to know that Forex volatility is still within healthy limits.
Basically every person must have its own considerations in choosing a currency pair. However, in general they must always pair with a selection of their currency with a strong major currencies such as USD or EUR. Furthermore, there is a second pair of the major currencies with eyes that country. If you live in Indonesia, you can choose the pair USD with IDR. This pair does have some advantages. But the biggest advantage is the ease of access to information, especially information Forex fundamental. But for beginners, pair EURUSD / GBPUSD / USDJPY remains pretty good choice.
In Forex, there is one term that must be known. That term is a currency pair.Currency pair is traded currency pair in the Forex. Pair is usually represented in the form of USD / IDR or EUR / USD. But choosing a currency pair can be a challenge. Errors in selecting the pair will actually make Forex trading actors have difficulty in obtaining sufficient profits stable.
Generally, a lot of people who prefer to choose a currency pair cross. Many reasons underlying it, but most people chose the pair because its movement is quite interactive.
For beginners pair is often played a lot for example included in the category of 'Major Pair'. Because the currency pair like the USD vs. the Yen and the Euro vs. the USD or GBP vs. USD to couples who are quite popular in the Forex.
To determine the choice, you do have to know the last movement of each pair there. From here, you can find out where the pair are included in the category saturated and where the pair are included in the category ranging. If you want to get a quick fight, you can choose the pairs who were experiencing turmoil. It should be noted, also be sure to know that Forex volatility is still within healthy limits.
Basically every person must have its own considerations in choosing a currency pair. However, in general they must always pair with a selection of their currency with a strong major currencies such as USD or EUR. Furthermore, there is a second pair of the major currencies with eyes that country. If you live in Indonesia, you can choose the pair USD with IDR. This pair does have some advantages. But the biggest advantage is the ease of access to information, especially information Forex fundamental. But for beginners, pair EURUSD / GBPUSD / USDJPY remains pretty good choice.
11. Manage the Smart Forex Trading Strategies!
Forex is a business model and a very profitable investment. Many people who get rich through Forex. But not a few who go bankrupt because of it. The movement of the currency market is difficult to predict precisely, but that does not mean you can not earn huge profits from the Forex. To achieve success, there are some things you need to know. In general people are going to judge that the benefits can be achieved with the right strategy. However if you are not really aware of the level of risk that the market will you worked, you may not be able to design the right strategy.Many say that of all the perpetrators of Forex trading, only about 10% are managed to make a profit. This figure is not entirely wrong. Even in total 90% of traders who suffered a defeat, there are actually several experienced Forex trader in it. This is because the principle of Forex trading is quite unique. For experienced traders, the defeat was outstanding. What matters is how you can learn from these losses so that they can make a profit on the next trade. Such a mindset is what must be built by the new trader.
In Forex, there is one principle that should not be violated. The principle is to never take the rash step. Do not make decisions when you're having a great defeat. At times like these, it is generally thought that someone would consciously referring to revenge.
Make a decision if: Analysis and Strategies you've benar2 sepandan and direction by calculating the number of transactions (lot) profit / loss are consistent with the resilience of capital you have ..
Though emotional decisions that will actually lead to the trader in greater losses. Risk management is also absolutely necessary. Risk management is generally done when the market is in bad condition or in a state of steady decline. At times like this, it would not hurt to stop and not take action to buy or sell at all.
Conversely, when the gain is great, do not necessarily take the moral hazard. Remember, this is Forex trading.
Unexpected things can happen at any time.!
12. Management Emotional / Psychological in Trading
Forex does look sexy. Potential benefits promised are also very high. But behind the potential returns are high, Forex also keep a high enough risk. This is what is called a high return high risk. Therefore, management becomes a very important thing. With proper management, risk can be reduced and the potential benefits could be improved. But there is one more thing that is very fundamental. It is the management of emotions.Why anger management becomes important in Forex trading?
Generally, many new traders who actually stuck in emotional decisions. Under certain conditions, they are making important decisions without thinking clearly. As a result they can not see far ahead, even they were not able to see the risks that exist behind the decisions they make.
Management of emotions in Forex does require a fairly long training. But as long as you know the technique, you can do it more easily.
One thing that you should always hold is, do not ever make a decision when you lose the ability to control your emotions. When you feel hopeless, avoid take action to buy or sell in Forex. It never hurts to pause. In fact, it would not hurt to stop the transaction and just watching movements in the Forex market.
Remember, you are not machines. You need time off to calm your mind. Make physical activity a mild or moderate exercise can help improve your mood. Production of endorphins in the brain will make you feel more comfortable so that ideas and strategies for intelligent flowing in your mind.
In Forex, avoid retaliation or too eager to make a profit. When you win a lot, you also do not immediately take action to buy and sell on a large scale. Stop and see the upcoming trend. Thus, the potential for you to win in the future also will be even greater..
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