There are 7 correct ways to trade Forex to gain profit
Forex Trading is hard-hassle easy. Forex aka foreign exchange or foreign currency exchange is still considered a “horrified” investment.
Horror because the results can make the saliva trickled to the magnitude. It is also horrified that its potential disadvantages are large to the extent that personal assets become stakes.
Forex is like two sides of the same sword. When mistakenly utilizing, can-can of our hands injured.
However, there is one thing that is interesting. According to the article in Republika, housewives are also interested in investing by trading forex. This means that foreign exchange buying and selling is actually not exclusive for men in a tie only.
For us-we are also interested in the luck of achieving the fortune of forex, there are a number of tips that can be applied to the following:
1. Learn what is Forex
Not familiar then no pity. The first step before trying to trade foreign exchange is to learn what is forex. One way is to ask for information from the Financial Services Authority (OJK).
OJK has public services in the form of complaints or requests for information about financial products. The request can be submitted in accordance with the ordinances listed on the OJK website.
Googling itself is also advised, the origin of which is the main role model is trusted sites. Not a blog created just to reach traffic.
Also recommended is looking for mentors or people who have the first plunge into the world of forex. Essentially, get the knowledge of forex trading as deep as possible first before so the trader is not the wrong to target.
2. Try another investment first
For starters, you can try other investments first that is similar to forex. For example the stock fund or dollar savings that the way it works is approximately similar to forex. That way, we know how the investments run and the risks.
From this experiment is expected that we can know a little much about investing. In investment, there is a possibility of profit and loss. Do not only wish to reap profits, especially if it is still fumbled as a novice investor.
3. Prepare funds
Each broker has a separate provision on the forex trading capital to be prepared by the trader. As a beginner, you should prepare your capital to a minimum. Calculate Create a forex trade learning capital.
When already more skilled, just inject new capital. Capital is small when so novice investors are also useful to minimize losses. Unless you are sure you can succeed and will reap the tweets of that investment.
Funds for this investment must be separated, not comot from other posts. In the future, if Forex trading goes smoothly, it is self-tempted to put most of the funds into this investment. It should be highlighted that the investment funds must be from the investment post.
4. Find a Broker
With the capital already prepared, look for a broker that corresponds to the nominal funds. In this point, it is necessary to affirm that for forex traders in the world, it is advisable to find a safe broker.
Because it is easier to track the legality of such brokers. In addition, if anything happens, for example, the broker is bankrupt or other bad things, the business is easier. Look for a broker listed on the Commodity Futures Trading Supervisory Board (BAPPEBTI), because it can be ensured official and more trustworthy.
In addition, prioritize brokers that take a commission aka spreads are smaller and do not use this expense. Thanksgiving can be a broker with a free consultation fee. Brokers are companies, of course, want to find profit. A good Broker is the one who wants to profit with the trader, not his own profit.
There may be many offers from brokers, such as bonuses when registering as a trader and others. But that’s not a guarantee the broker is worth a choose.
5. Ensure powerful “weapons”
The weapons in forex trading are gadgets and Internet connection capable. The Gadget can be a computer, laptop, or smartphone.
Forex Trading can be done 24 hours for 5 days (Monday-Friday). This trade obviously needs an Internet connection because it is all done online. Therefore, a good connection must be prepared so that transactions are not crash in the middle of the road.
It could be that the chance of reaching the Cuan in front of the eyes is lost due to such technical problems. In fact, it could be loss and up to billions of debt.
6. Demo account
Each broker generally provides a demo service account a.k.a. accounts that can be used for demo forex trading. This Demo is important to be conducted to find out the stages of forex trading in the application provided by the broker.
Make the most of this demo so not too groggy when one can actually decide to sell or buy forex in front of the screen. The stakes of your money
7. Become a disciplined trader
The final stage of forex trading to achieve the Cuan is to be a disciplined trader. Discipline is necessary to determine when to sell and when to buy foreign currency.
Forex trading formulas are actually simple, selling when the value rises and buys when the value drops. But forex trading is dynamic. If not disciplined, it is certainly easy to see forex that the value is falling down without thinking of potential in the future.
Remember, the dropped forex does not mean going up later. It could even continue to be mired so that impacts trader’s losses.
Every investor certainly hopes to benefit. But investments are not as easy as reversing the palms, let alone forex investment.