So you've done your homework. You have the internet for all the best products to help you learn Forex trading can be boiled. You have received and read all the best advice and learned the most useful guidelines for trade. Already have a strategy that always has to develop profitable results. And DEMO changed and proved that the strategy is working well and will be ready in the last month, psychologically immersed in the foreign exchange market volatility is.
And you're ready to open a forex account in real live. It would probably be only a mini account. Maybe even a micro account. They just want to test the waters and see how direct trade several demo trading. But still, you really want to be serious, even if you invest only a small amount of money. First, it is still money, and that's money that you have earned and saved. And secondly, who is preparing for what could be the ultimate business investment, we would expect you to bring your financial freedom. This allows you to really want to succeed in this field. Do you really expect to do in this lucrative world of forex investments.
But that should be your goals? How much return on investment (ROI), you should aim for the first month of forex trading? For the first year? How many jobs each week? And how many cores have Bank By profession?.
These are the most common problems that a trader first confronted with the decision on the aims and objectives of the first Forex account. And all questions are valid. And the answers are usually profitability, and life expectancy of the account.
Take the first edition ROI. What is the return on investment would be acceptable as a destination for Forex traders for the first time. While many traders seek first heaven and the moon with his first goals of the ROI. It is likely that some of them are already thinking about doubling their accounts during the first month of operations. It's possible. And many actually did. But this should not be the goal of a dealer for the first time, and it is your own is burning to the ground in a safe place, if you are aiming to double the capital in the early months of trading.
Try to maintain a more modest goal. In the range of 1% to 2% ROI in the first month would be almost feasible and safe as possible. However, remember that you start working. And what it takes to master the discipline and control of the management of your account is correct. You must ensure that you follow the strategies developed. And muster enough discipline to business plans that you have to be prepared to negotiate. Follow your plan to the letter. They thought that the consideration of the transaction before the market completely. Once your company plans, even if it leads to a loss that can get valuable lessons on trade.
For the first year, do not lose all your money should be your goal. This may seem funny at first. But when you consider making their first stores in the statistics that 90% of all investors Retail Forex lose their money in the first three months, this can be very useful.
If you can get up to 5% in the first year, then you can be on your way to financial freedom. Otherwise, you can continue to optimize your strategy. Or perhaps it may be necessary a complete review of your trading system. It may even be desirable, sometimes you have to go back to demo trading for a while, when you have your first experience with currency trading that some losses in your account.
And the reason we should aim for small profits, although the possibility that your double in the next few weeks because of leverage, is that also mitigate the effects of losses if the market moves in their negotiating positions adverse.
It is very important that you are able to achieve this removal is not trade. Choose wisely operations. There are many ways in daily FX. If the configuration is not really in your strategy, do not take in the interest of being "in" the market. This is a common condition among traders. They love a position even if the market is not sure about where to go, to have. Remember, stay away and not in a position trade itself. Unable to generate profits if not placed. But at least you are not losing money when you enter a trade just for the pleasure of entering the market.
And finally, not to fight for the number of cores. Do not give your self a fixed destination number for the number of seeds that must have before closing a position at a profit. It is always better to take what the market you. The market does not move in the same manner each time when a specific running direction. Learning to read the market and see if it is achieving its goals. Learning to adapt to market volatility. And consider how you can maximize the benefits and minimize losses.
These objectives should be enough for a dealer, for the first time at the destination. If after a year of negotiations, you can grow your account regularly and raise their goals. But never do during your first year. Do not rush the growth of your account, or you can end up burning your own press on the floor.