As trillions and trillions of dollars flow through the forex market daily, new traders are dropping like flies. Did you know about 85% last 8 weeks or less, with 15% not production it a year? We think there is a reckon for this and you should make sure you corollary a few simple rules before considering forex.
First, only risk funds you can afford to loose. That's right - trade only risk capital. Understand you are trading with extreme leverage in some cases and you might just loose more than you have invested. It can and does happen.
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Second, when trying a new software ideas or goods don't forget to demo trade for at least 3 months before risking real money. Most forex brokerage houses offer free demo accounts. Convention trading as if you were using real money.
Third, only buy products with a low cost trial duration or one with a 2 month or more guarantee. I like to test products that are priced 0 or under, which shouldn't break the bank. Make sure the forex goods that you are purchasing fits your lifestyle. Ask yourself, do you want to stare at your computer all day, or do you want to come home and perform a set and forget trade? dissimilar products are for dissimilar trading styles.
Fourth, this is one of our intimately regarded secrets for production a decent and smart purchase. We usually do an extensive scam and reliability test by researching forex user blogs on all major hunt engines. Next, we go to a site called ForexPeaceArmy.com. They have great user reviews and there is a good chance that your goods might be listed there. We also do a generic hunt using a hunt motor like Google. Here is an example of what I might enter in a Google hunt box for Forex goods X - enter this in the hunt box "Forex goods X scam". Believe me, if there is a complaint on any product, it will be voiced on the internet as a scam.
Fifth, this is one added tip for you to consider. Should your demo trades for a goods by prosperous and you loose money after investing real money, go back to demo trading for another 3 months. Don't try to take revenge on the market by doubling up to try to break even.
Good luck in your trading. Please remember - the tips mentioned here are my rules only. Consult a professional before trading or investing in Forex.
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