What is the foreign exchange market? What is Forex? The foreign exchange market is one of the largest financial markets in the world, specializing in making currency transactions. It does not have a certain location and operates 24 hours a day, 7 days a week.
Forex market has its own characteristics, uniqueness and high liquidity. That makes it an attractive market for investors. Forex – unpredictable risk but because of the big profit, there are still many investors willing to participate. Should I play Forex ? To ensure safety and limit risks, what foreign exchange investment experience is required ? Experience trade forex? Please consult 25 foreign exchange investment experiences in this article with 100startupideas.com!
- 1 1, PREPARE KNOWLEDGE OF THE FOREIGN EXCHANGE MARKET, HOW TO TRADE
- 2 2, RESEARCH AND LEARN ABOUT THE FOREX MARKET
- 3 3, PLAN TRANSACTIONS
- 4 4, FORMS OF FOREX TRADING, TRADING METHODS
- 5 5, ALWAYS WATCH MARKET MOVEMENTS
- 6 6, FOREIGN CURRENCY TRADING: MUST HAVE MONEY
- 7 7, EXPERIENCE OF FOREIGN EXCHANGE INVESTMENT: MONEY MANAGEMENT
- 8 8, INVESTING IN THE MARKET I UNDERSTAND
- 9 9, ALWAYS KNOW TO STOP AT THE RIGHT TIME
- 10 10, INTERACT WITH OTHER TRADERS
- 11 11, CONTROL YOUR EMOTIONS
- 12 12, BE REALISTIC
- 13 13, NEVER RISK
- 14 14, USE LEVERAGE CAREFULLY
- 15 15, WORKING WITH THE MIND
- 16 16, ALWAYS PERSEVERING
- 17 17, RISK MANAGEMENT TO THE LOWEST LEVEL
- 18 18, CAPITAL CONTROL
- 19 19, DON’T RUN FAST BUT GO SLOWLY
- 20 20, CONSIDER, CALCULATE REASONABLE TIME OF IN AND OUT TO BRING THE BEST EFFECT
- 21 21, INVEST IN YOURSELF
- 22 22, COLD HEAD
- 23 23, NO INVESTMENT BY MOVEMENT
- 24 24, LEARN FROM GOOD TEACHERS
- 25 25, ALWAYS LEARNING, ADDING KNOWLEDGE
- 26 Author
1, PREPARE KNOWLEDGE OF THE FOREIGN EXCHANGE MARKET, HOW TO TRADE
Foreign exchange is still a relatively new concept for many people. To be able to participate in this market, we need to know how the forex market, how it works, operates and trades in this market. Which characteristics, specialized words or orders need to be noted and investigated.
2, RESEARCH AND LEARN ABOUT THE FOREX MARKET
The forex market, also known as the foreign exchange market, has been around for a long time but it has become popular and has attracted many investors. Forex is a trading market via computers thanks to internet connection, where traders buy and sell currencies together. In this market, goods are currency pairs.
3, PLAN TRANSACTIONS
For the investment process to take place smoothly, make a specific investment and trading plan to be able to capture your steps. At the same time, if there is a risk, you can look back and promptly fix it.
4, FORMS OF FOREX TRADING, TRADING METHODS
As with other financial transactions, forex also has similar trading methods and methods. The only difference is that in this market, investors trade, buy and sell currencies at the same time. Understanding how and method of trading will help investors more easily control and calculate their investment activities.
5, ALWAYS WATCH MARKET MOVEMENTS
The foreign exchange market always has a lot of fluctuations in every second, every minute, … Each second can make you become rich but can also turn you into bankruptcy. So, always follow and capture information every second, every minute to make the right decisions.
6, FOREIGN CURRENCY TRADING: MUST HAVE MONEY
In order to trade any product or service we need money. In forex investment, money is very important. Because it is a commodity for investors to trade.
7, EXPERIENCE OF FOREIGN EXCHANGE INVESTMENT: MONEY MANAGEMENT
This is an important principle for investors to survive in the foreign exchange market. Money management helps investors control the level of investment, losses and profits they receive so as to have more accurate calculation steps.
8, INVESTING IN THE MARKET I UNDERSTAND
Invest in the market you really know. For forex, if you do not have enough knowledge and understanding, but you still decide to participate in this market, then you are investing money for others to enrich themselves. This is a difficult market and there are many risks, so find out carefully before setting foot in.
9, ALWAYS KNOW TO STOP AT THE RIGHT TIME
When successful investment, earn a lot of profits, human psychology will often want more. And so they will continue to invest, but the foreign exchange market always changes every second, every minute. So maybe you earned a lot of profits last minute, but if you continue to invest, you may lose money. So, please stop at the right time to ensure safety for your investment to be able to survive long in this market.
10, INTERACT WITH OTHER TRADERS
Interaction and learning from other traders will help us gain experience and a realistic view of this market that books cannot provide. From veteran traders, we can refer to how they play, how they choose to invest and from which to draw experience for themselves.
11, CONTROL YOUR EMOTIONS
When investing in financial markets, we always experience a very stressful feeling. There will be many fluctuations in the market. Loss makes us depressed and disappointed. Successful investment we are happy. However, emotions should not be influenced by our decision to invest because it will not be effective. Investment is the calculation and conclusion from reality
12, BE REALISTIC
Don’t look at successful people in this market to delusion that it is an easy market to make money. Be realistic, rely on your knowledge, experience and calculations to make investments profitable.
13, NEVER RISK
Although we know that: high risk will bring much profit. But for the foreign exchange market, forex is the opposite. If you already know the high risk but are most risk-averse, determine that you have lost that investment. This is a very risky market and not easy to grasp, so be careful with your decision.
14, USE LEVERAGE CAREFULLY
Leverage is a tool to help traders maximize their profits. But it also always has risks with this tool. Therefore, consider carefully when deciding to use leverage to maximize your profits.
15, WORKING WITH THE MIND
As a volatile market, we have to work with numbers every day, calculate the time and value to decide whether to invest or withdraw. We need a clear and lucid mind to be effective for investment.
16, ALWAYS PERSEVERING
Forex is a risky market, we can succeed today, but it may fail soon after. To be able to survive in this market for a long time, we need to be persistent and not afraid to fail to be able to draw experience and lessons for ourselves at the next investment.
17, RISK MANAGEMENT TO THE LOWEST LEVEL
Let’s clarify two concepts: business risk and loss. Business risk means we will accept to invest some of that transaction, if it fails, it will only mitigate our capital. Loss means that we lose money after our investment fails.
Always be cautious, carefully calculate and divide the investment amount to manage risk at the lowest level. Professional investors are the ones who accept their business risks at the lowest level.
18, CAPITAL CONTROL
Any trader needs to build a risk prevention fund to survive long in this market. It helps maintain and stabilize the activity of investors. If there is no capital, or no money, investors cannot continue to participate in transactions. That means we have been excluded from the foreign exchange market.
19, DON’T RUN FAST BUT GO SLOWLY
Knowing this is a difficult market to pursue and need time to stabilize. We just need to gradually start with small, slow and steady transactions. Not because of the desire for profit but to race against time. Because it will not bring good results.
20, CONSIDER, CALCULATE REASONABLE TIME OF IN AND OUT TO BRING THE BEST EFFECT
After having enough knowledge and experience in this market, investors can sketch, predict the price fluctuations in the forex market, and capture when it comes to investing, when Should stop and sell. Getting accurate opportunities will help investors reduce risks and bring profits.
21, INVEST IN YOURSELF
Investing in yourself will never fail. In order to better understand foreign exchange, we can invest for ourselves by taking courses at foreign exchange institutions. Invest in building relationships so that they can learn more from their experiences.
22, COLD HEAD
Every day on forex there are many successful people as well as people who fail. Investors must be strong-minded, have a spirit of steel and a cold head so as not to be disturbed by external factors.
23, NO INVESTMENT BY MOVEMENT
Reality has always proven to us that, if the movement according to the movement without prior research, it will fail. We must repeat once again that this is a difficult market to play, difficult to survive, so be sure to research before investing. Don’t follow the movement because it won’t help us make any profit.
24, LEARN FROM GOOD TEACHERS
In addition to book knowledge, we should find a teacher with practical experience to guide and guide us in smarter ways of investing. If it was a good teacher, they would have had a lot of collision experience in this market. From them we will soon be able to participate in this market more.
25, ALWAYS LEARNING, ADDING KNOWLEDGE
The foreign exchange market always changes every second, every minute, .. there are many new ways to invest, effective trading methods are found, … So, always learn, supplement knowledge every day to have Can keep up with the change and development of the foreign exchange market in particular and the world economic market in general.
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