Unfortunately, trading in forex comes with a real set of risks and without proper training you could end up in the poorhouse. Read the rest of this article to find some tips which can help you trade Forex both safely and profitably.
Use two different accounts for trading. You can have one which is your real account and the other as a testing method for your decisions.
Do not rely on other traders’ positions to select your own. Forex traders often talk only about things they have accomplished and not how they have failed. In forex trading, past performance indicates very little about a trader’s predictive accuracy. Stick with your own trading plan and ignore other traders.
If you want to keep your profits, you have to properly manage the use of margin. Margin has the potential to boost your profits greatly. Be careful not to use it in a …