TRADING TIPS

The Trader-en-ligne.fr team brings you the 5 main trading tips you need to keep in mind in order to maximize your profits on Forex. By following our trading tips and after a few hours of getting started on a demo account of your chosen broker, depending on your profile, you will then find your own method of trading that earns you money. This is the right time for you to open an account in real mode and deposit money. If for your trades you keep the same method as in demo mode, you will be the winner. Do not be afraid to get started in real mode because the Forex is now within the reach of all. Unlike the purchase of shares more "classic" stock market, Forex can master the best trades and respecting your winning strategy, you will increase your capital very quickly. It is imperative to follow our 5 trading tips.

Tip for trader # 1: Trader on a demo account
To start your new trader activity, our advice for trader is to start by playing with a demo account: you will trade exactly as in real mode but with a fictitious base capital of $ 10,000 for example. Play the game and act as if it was your own money to progress as quickly as possible. Open a free account on several brokers to choose the demo mode the one you prefer. In real mode, you will obviously play on only one broker even if you can of course decide in the long run to change.

Tip for trader # 2: Deposit on your broker a sufficient basic capital
To make a profit, we advise you to deposit a large enough capital to trade efficiently. Thus, you can have more freedom from the start and even if you make some losing trades, you only lose a small percentage of your capital. With a small deposit of 500 € for example, you can quickly lose everything if your first trades do not move in the right direction. To avoid unpleasant surprises, our advice for trader is to deposit a minimum of 1500 dollars / euro on your real account. Depositing less implies only that you are taking more risks. Conversely, it is of course strongly advised to deposit more than 2000 € in order to start your trader activity, you can also buy cryptocurrency such as bitcoin to vary the media.

Trading Tip # 3: Finding Your Own Trading Strategy
As soon as you start trading, you will always ask yourself the same questions and have the same hesitations that come back. Will classes continue to rise or have they peaked? Will they go down for a long time or go back even higher in the next hours? Finding your own trading method involves using both graphical tools and economic indicators offered by brokers.

For graphic tools, it is up to you to test the different curves that you can display on the charts of currency rates (depends on the platform of the broker) and select the most reliable but also the ones that speak to you the most. Then follow precisely these indicators in your choice of opening and closing your trades and use your demo accounts to find the most relevant tools tailored to your needs.

On the other hand, as far as economic indicators are concerned, most brokers offer an economic calendar of events that affect currency rates. You can often find valuable information that can make you open a trade. If you can not decrypt the economic information, refer to our brokers / brokers comparison where several examples are detailed.

Tip for Trader # 4: Set limits and do not try to "catch up"
In the world of Forex, we do not hide the fact that some traders sometimes lose all their invested capital. Our trading tips are there so that you do not reproduce the same mistakes as them. Whatever your level in currency trading, you will necessarily trades sometimes losers because it does not evolve at all in the sense that you had planned.

Good trading methods: Set limits! If your trade reaches 10% of the losses in relation to the amount invested, close this trade. The most common mistake traders make is to leave losing trades open for long hours. Of course, by chance the prices can go up, but if the prices are only at the beginning of a long fall, you risk losing all of your capital. To set such a limit, you can with most brokers set a "stop" order. Which means that if you do not pay attention to the evolution of your trade, it will be automatically closed if it reaches a rate that you set yourself. It is