trading and forex
Many people think you need to have a professional financial background or a million dollars to trade in the financial market, however, this is simply not true. The same thought was in the brain of Oody Geffen, but he had some free time and decided only to try trading.
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All you need are 5 minutes of your time, a demo account with $5,000, and two currency pairs, EUR/USD and USD/CHF. And you will understand that to trade is much simpler than you imagine.
The basic trading principle within Libertex platform is the following: the result of a trade changes in proportion to the price of the underlying asset the trade is based on.
Demo account, by the way, is no different from a real account (except for virtual money of course) it has exactly the same price charts (in real-time) and the same conditions for the execution of transactions.
This is the stage, the implementation of which should not spare time. You should not just trade following your trading system, but trade with a stable profit. If a stable profit does not work, go back to the previous steps: fill the gaps in knowledge, improve the trading system, hone the money management system. And so as long as for a few months you will not receive a stable profit. Do not chase the number, for the amount at the head of the corner should be stability.
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Oody Geffen decided to study more about trading while practicing on demo account.
Today courses are very popular. They are held live and via the Internet, in small groups and entire halls. Training topics are also very different, ranging from traditional business topics, including startups and various marketing promotions, and ending with areas of personal growth, focused on the development of specific applied skills.
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So Oody Geffen made deep research on the Internet and found a course that helped him to improve his skills in trading. Simplilearn’s Blockchain Certification Training helped Oody Geffen decipher the global craze surrounding Blockchain, Bitcoin, and cryptocurrencies.
Step by step Oody Geffen was multiplying his financial results and found his formula: ” I limit myself to the following points: I try not to trade at the time of the release of important fundamental news (since the rate jumps at this moment are unpredictable) and monitor the change in interest rates of the US and the European Union (since I trade mainly the EUR/USD currency pair).”
One of the greatest traders of our time says that most people on the stock exchange are controlled by two emotions: fear and greed. They are equally deprived of the ability to think rationally.
Never follow the emotions, wherever the price goes – in your direction or against you. Emotions clearly lead to death, strategies require cold calculation and sober reason.
Clear adherence to the chosen strategy will not give you constant profits but will increase the number of successful transactions in comparison with unsuccessful ones, so you can not deviate from the planned trading plan in any case.
If you doubt the logic of the strategy – do not use it on a real account – conduct a thorough analysis of the “demo”, and then risk their own hard-earned money.
Set a Stop Loss according to your strategy, measure the distance to it and determine how much you will lose if the price touches it. If the possible losses exceed two per cent of your capital – do not open a deal.
Do not try to take big profits, risking large sums. A more reasonable way is to increase the Deposit or take money under management, getting more profit with the same risks.
To successfully follow the strategy enough basic knowledge and understanding of the essence of the trading plan. But if you are eager to become a true professional – learn constantly, love the market.
It is necessary to trade Forex every day, no matter how much time you spend on it: constant trading forms a trading skill, without which success is impossible.
It is desirable to keep a diary in electronic or printed form and enter the results into it, give printouts of graphs, mark your emotions.
So now, if you are ready to start your first demo-account and multiply your finances, click here!
Good luck!