简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:A key factor in building a successful and profitable trading career is making your own plans. Your transaction plan will provide a good framework for guiding ever-changing currency prices to profit.
With this in mind, one of the best forex trading tips we can provide is to think about what long-term investment goals are. The plan may include daily revenue targets, daily time spent on fund management and investigation and transactions.
At some point in the transaction, an exit plan is needed. This is the time you liquidate your position, so you will benefit or lose it. That‘s why it’s important to keep your profit goals in mind before ordering.
For example, let‘s say we’re trading GBP / USD. I think the price of the pair will rise and place a purchase order. But before that, we also place an order to realize profits. This corresponds to 1% of the location size. Simply put, your profit target is 1%, and when this profit occurs, your position will automatically close.
Ultimately, trading with profit goals helps filter out wrong decisions, making it easy to assess whether a transaction is worth the risk.
Daily research / time commitmentFirst, it‘s a good idea to choose a few markets to focus your attention on. And it’s good to set some goals for yourself regarding time management. After thinking about how much time you should spend on foreign exchange transactions, stick to it.
Spending time researching and researching financial news and technology analysis will also help you make the right transaction decisions. Crucially, all merchants write a diary. Recording transaction activities can greatly help reevaluate future transaction strategies.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Ensuring the safety and legitimacy of a broker is crucial. Unfortunately, this lesson came at a high cost for Nguyen, a 46-year-old trader from Vietnam. He recently sought assistance from WikiFX, hoping to expose the misconduct of Zeno Markets, a broker accused of blocking his withdrawal requests and causing significant financial loss.
A Brazilian trader's funds are blocked by OX Securities, regulated by ASIC. High-risk trading outside the jurisdiction leaves the victim without $1,538.
In May, the Reserve Bank of New Zealand (RBNZ) decided to maintain the Official Cash Rate (OCR) at 5.50%. This decision reflects a commitment to keeping monetary policy restrictive to manage inflationary pressures and ensure that inflation returns to the target range of 1-3% by the end of 2024. The latest UK GDP data (MoM) for April 2024 showed that the economy remained flat at 0.0%, following a 0.4% increase in March 2024. This stagnation is attributed to declines in industrial output and...
Learn the basics of forex trading and the importance of jurisdiction. Understand global regulations, cross-border trading risks, and how to navigate the forex market safely.