BEST FOREX BROKERS AND PLATFORM

Have a trading plan of your own. Develop a technique for trading on forex using the finest trading guides that is based on several important variables.

Keep your emotions under check. Making decision might be hampered by an unstable emotional state. Learn how to manage your feeling and desires.

You should have your own historical information. write down the situations and considerations that influenced your choice to open or cancel orders, as well as your thoughts on each instance. Review your work's outcomes on a regular basis. Constantly review the results of your work.

Make sure you learn from your mistakes. analysis and correction of errors are two of the most crucial aspects of effective trading. when analysing losing positions, it's necessary to be self-critical. you can avoid making the same blunders if you've dealt with losing positions before.

Do not trade unless you have a good cause. If you don't have anything else to do or can't sleep, don't create a trading platform. only trade when there are comelling reasons to do so.

Work and think independently. we are the best forex brokers in the world. while assistance and advice from others might be beneficial, this is not the case while trading forex. you should take the advise of experienced traders, but do not blinldy accept it. only when you do your own analysis, devise your own strategy, and depend solely on your judgments will you see progress.

Only trade when you are certain of your decision. it is preferable to wait for the right time to enter the market rather than placing an order when you are unsure about the situation. It is critical to join and exit the market at the appropriate times. you should not take the risk if you are not confident. A few pips lost cannot be compared to the massive loss that might result from reckless action. simply cancel the order and reopen it later: the market isn't going anywhere.

Limit your risk. Use for trading only the sum of money, the loss of which will not cause shortage in the family budget.

Know your limits. Be able to stop.

Be careful with early success. Do not lose your head from happiness just because of a few hundred dollars' profit (back to 2).

Do not trade against the market. With the lack of experience, it is better not to take the risk. In the process of price movement in a particular direction, market starts jumping up/down. To learn how to use short– term fluctuations, you must gain experience, thus minimizing risks.

There are four pending orders on open positions:

Buy Limit– the position to buy opens in case the Ask price becomes lower or equal to the order price (the current price level at the moment of placing an order is higher than the Buy Limit order level).

Buy Stop– the position to buy opens in case the Ask price becomes higher or equal to the order price (the current price level at the moment of placing an order is lower than the Buy Stop order level).

Sell Limit– the position to sell opens in case the Bid price becomes higher or equal to the order price (the current price level at the moment of placing an order is lower than the Sell Limit order level).

Sell Stop– the position to sell opens in case the Bid price becomes lower or equal to the order price (the current price level at the moment of placing an order is higher than the Sell Stop order level).