i lose much above all when trading with high leverage , tried to bring profit very rapidly but there was no money management or any good trading plan. as a result faced a huge loss. it was my very first past experience.
leverage is a very complicated tool in Fx trading , sometimes it bring profit very rapidly , sometimes it causes a great losses and risk in spite of having risk management , but after all its one of the major financial issue in Forex.
I trade based of my personal trading strategy, it’s a combination of 4 default and 2 custom indicators! So for me, trading preparation means, counting the positions of all of trading indicators according to my strategy! Besides, I also count currency correlation! That’s my preparation!
In my opinion , major currencies like EUR, USD, JPY, GBP etc can be a few to keep in mind while trading for profit. Others currencies are also good but I think these pairs can be high riskier and less liquid too.
Roberto21 posted: In my opinion , major currencies like EUR, USD, JPY, GBP etc can be a few to keep in mind while trading for profit. Others currencies are also good but I think these pairs can be high riskier and less liquid too.
Certainly these pairs are the most traded ones among traders by virtue of their very nature.
in order to me , the best way is for someone to get a demo account and then try Forex trading without the benefit of any training or even reading of the basic of Forex trading, this way , you will get confused a lot and therefore , if you get attracted to the trade, you will search the web and find out and learn about the things which are making you confused.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.