Forex-investazForex Tips and Tricks
While reducing the risk while trading on the Forex market, there are tricks to increase profit. A few of these clues go through mastering theoretical money market knowledge, a few experience, and some of them trading instruments of the forex market. To briefly mention all these tricks;
To reduce the risk and the market suddenly in the opposite direction,
Attention should be paid to the ratio of the transaction to be opened against the entire asset. It is recommended that this rate be around 6-7%. It is an asset-to-transaction ratio that is not fragile, suitable for long-term investments.
However, it is not recommended to exceed this rate even if short-term transactions will be opened.
Opening surprise transactions before important data increases the risk. Therefore, it will be the healthiest to determine the direction of the transaction together with the economic data of the transaction to be opened.
The national and international economic calendar affecting the currencies traded should be carefully followed and positions should be taken in the light of economic data.
Deciding which of the transactions with or without swaps are in favor or against, the account or accounts to be opened should be opened accordingly.
It is important to use order types effectively. It minimizes risk and ensures profit, especially when leaving the transaction open and not following the market.
On average in the Forex market, the daily trading volume is $ 5.6 trillion.
If such a large trading volume has caught a trend, it is the resistance and support points to predict the direction in which this trend will turn. Even trends often break these points. Therefore, it is recommended not to trade in the opposite direction of the trends. It is one of the most frequent mistakes made by new traders in the Forex market.
An absolute must for the Forex investor is to work with a reliable, accessible brokerage firm.