First, I spent half a day just writing a detailed article about f forex experience — get rich from forex, so don’t regret 10 minutes to read it. Commitment is not cliché, not theory
Surely many of you already know about forex investment channel — a speculative channel that can make a steady profit of 20–30% of the total investment capital each month with a minimum capital of about $ 100. You will work with numbers, but don’t think it’s dry, it’s an art.
A thing itself is not bad — bad is that the user of it, you may have heard many introductions before, like: “My students are housewives but the forex business is more than a hundred million monthly profit and a series of evidences such as pictures, buildings, cars ”.
Dear friends, I’m also a trader, so I understand how you can make a profit safely from this channel, you can make more than 100% of your investment daily — but trading like that — not unlike gambling. If you gambled, you should gamble in Las Vegas, at least you can enjoy good food and beautiful girls.
Not too long, I would like to share with you the details and direct experience of playing forex that I have learned over 3 years of fighting in the forex market.
Find the right currency pair to trade
Although forex trading takes place 24 hours a day throughout the week, a experienced forex player will recommend trading during peak hours to ensure liquidity.
Liquidity is the ability to close a trade, which will be easier to execute when the market is at its strongest. Depending on the currency pairs you trade, large amounts of money can occur in either of those time frames for trading.
For small traders with small accounts and beginners with inexperience playing forex, should trade USD with different currencies. Forex trading experience for part-time traders is advised to choose trading currencies with high liquidity such as USD / EUR, USD / JPY, USD / GBP, USD / CHF, USD / CAD, USD / AUD.
For part-time traders with extensive forex experience and time to study the conditions and circumstances that can affect currency prices, the following pairs also offer high liquidity: EUR / GPB , EUR / JPY, EUR / CHF.
Experts recommend trading only USD / EUR for part -time traders with a limited forex trading time frame . This pair is traded the most often and there is a lot of information available about these currencies.
Forex Investment Secrets: A Beginner’s Guide
How to invest in foreign currency ???
Honest advice for newbie traders (novices or novices) is to trade major currency pairs — i.e. pairs containing US dollars (namely 6 pairs: EUR / USD , USD / JPY , USD / CHF, GBP / USD, AUD / USD and USD / CAD).
These are the currencies that are of interest to the press and investors, so they have enough official information, so the risk of you being led by the signals of the market will be lower, so the probability of losing Losses and worst account fire are unlikely.
You can refer to the above information at investing.com, do not watch Vietnamese, because Vietnamese is not an official source. If your English is not good, you should combine it with Google translate.
ESPECIALLY, if you prefer to make a high profit (meaning high risk), you should invest in GOLD, because even in the gold sideway trend, it is still moving around 10 prices.
Especially in the current context, when North Korea and the United States are always eager to shoot missiles, GOLD becomes a safe haven for investors. However, GOLD is only suitable for those with strong capital because you are very likely to “stop orders” due to excessive negative margin.
If investors prefer low-yield but stable and long-term investment with little risk, investors should choose USD / JPY or USD / CHF. The Yen is the 3rd most traded currency in the world (after USD and EUR) in addition to that the Japanese government always wants to keep the Yen low to promote import-export business.
And the Swiss franc does not need to say much about the level of stability, this country is also the place to hold the assets of world tycoons. Of course they will not want any instability to happen to their assets.
Find reputable forex floor — with legal certification — no scandal
A reputable forex floor is a floor that is certified by regulatory agencies measuring world financial strength. This is the principle you must follow — Similar to when you go to the hospital, do you want to be examined by a doctor with a superficial appearance but without any professional certificate? prescription for you no.
Definitely not.
The most common certificate of brokers in Vietnam is IFSC’s International Financial Services Center. However, this certificate is quite popular because most Forex brokers in Vietnam also say that they have this certificate. On the other hand, although popular, IFSC is the only certificate with legal validity in Vietnam.
In other words, forex brokers must have an IFSC certificate to open a support office — just a support office — in Vietnam.
Moderate Spread Note — no hidden costs.
First, how is “moderate”. You must be aware that some exchanges have near-zero spreads, CAREFULLY, are you sure that those exchanges do not have “ghost” costs, which only wait for certain conditions then. “Sucking blood” from investors.
“Ghost” costs are often combined in brokers’ floors. Even some floors when “believe” out stretched the spread to several hundred points.
Imagine, you hit USD / JPY to put TP (take profit) at 114.20 but some unreliable exchanges extended the spread to 114.80. If your forex trading orders only go to 114.50, you will not hit the TP level, as a result, you understand.
We will discuss this topic in detail later, but you must first get acquainted with everything on the floor to be sure not to be “led”.
You probably already know that Broker forex makes a profit from the difference between the forex pairs. So, before “giving yourself” to any exchange, you must be calm enough to carefully review the transaction costs incurred, transfer fees, withdrawal fees, especially overnight interest rates when you intending to keep those orders the next day.
You must note that “whichever it is”, do not because of the low spread on side A and abandon better trading conditions on side B. Maybe party B has a higher price, but That means that you enter “sweeter” orders, especially those entering the “golden hour” accompanied by high liquidity, if it were me, I would choose side B.
Getting rich from forex must be recorded in the transaction log ???
To tell the truth, with myself over 3 years of trading in this market, my ability only stops at the monthly profit of 20–30% of the investment amount. Honestly, not only do you need to trade as much as you can, it is not so, there must be a complete process. And the first thing you have to do is ………………………………………………….
……………………………………. LOG OF TRANSACTION …………………………………………
No kidding, I’m really serious, you know why? Because only when you record FULL, ALL of the market information, political volatility, candlestick patterns, trends you predict, where you go, where to exit, why exit, Where is TP — SL (take profit — stop loss), what is the trend of the market?
All of that, I’m telling you the truth will be boring to the neck, but trust me, this is the forex method that I use to succeed, as long as you persevere like this for 6 months, I dare guarantee you will make a profit of at least 20% of the investment capital per month.
Of course, there must be the guidance of IB, but why is IB and not others like Mr. A, expert B, professor X. Read more.
Find a true “forex” master or a forex mentor
Simply because the people above are mostly only knowledgeable, speak very well, sound very good, but when it comes to work, it is nothing, even burning account. As for IB, they are experienced combatants from the market, they go up from stumbling — losses — account fire.
Let’s see, IB is often referred to as a “wholesale sale”, meaning they earn dozens of hundreds of customers once for Broker.
Ask them why they do it, because their tactics are mostly right and understandable to customers. So customers trust and follow them always.
Today, most of the forex experts are mostly faked, hanging goat heads selling dog meat, mainly deceiving the money of the gullible investors. So, be gentle but don’t be foolish.
All About Forex, Scams, Legal, Should Invest ??
Effective forex playing experience — play 1 week demo account
WARNING — This is my experience, I use it and see it effective, you can refer, not suitable, do not say bitter words — Want to make rapid progress to make profits in this market, no way else you must trade and open a forex demo account , try about 1 week to get familiar with MT4 software (how to place orders, types of orders, take profit, stop loss …).
This is a REQUIRED process AND DO NOT DO ANOTHER.
However, there is still a faster way, one that many people don’t dare to try, but it works best in all ways. I will show you this in the next section. Please answer the question below.
Set 0 to play forex if you are a newbie
This is the most effective forex investment I know — Open a real trading account at a reputable exchange (how reputable is I said in this article).
Vietnam currently has more than 50 exchanges, so the selection of accounts is also extremely diverse — depending on financial conditions but I recommend you spend about $ 100 for this. ANYWHERE , don’t you know how to open a real account to burn ?? I will explain it to you below
ABSOLUTELY , do not know anything and open a real account … Yes I am telling the truth, why u, because simply when you open a real account, you will officially become that IB’s customer. IB then receive commissions from the number of lots you hit in the month.
So your interests are tied to the interests of IB, so it is not possible that IB wants you to burn your account. Of course they will not guide you all the secrets they have, but it is enough for you to seek profit on your own.
This is an extremely effective way but not everyone understands, this $ 100 is not used to invest TRUE but to invest KNOWLEDGE for you. That will be a solid stepping stone for you later.
Truly $ 100 you only hit about 0.001 lots, then there is only a loss of $ 2- $ 3 is the highest, which you get is REAL EXPERIENCE — something that Demo accounts can never give you.
Always perfecting the construction of the Forex trading system
Building a Forex trading system is considered to be the most important part for traders. With forex trading strategies you should consider yourself that a warrior whose opponent is your forex market. Not only is this a good idea, it also makes your trading less boring and more interesting.
Of course, the core that we are focusing on here is profit, because having profit can solve other problems.
Each industry or an area needs its own qualities to be able to develop best. In the field of forex, to become a good trader you need to focus on the elements such as discipline because discipline will always do things according to your plan.
In addition, you need to have good thinking you must always have good thinking in all situations to accumulate knowledge and successful transactions. Moreover, for long-term success, you need perseverance for successful forex investment, you need perseverance from research, perseverance from small investment to large investment, these are the core things.
In terms of health, this is also a key issue of human beings, good health, a clear mind. This, helps you focus on work and without the wrong moments.
Besides, the humility with the knowledge source is endless, especially the forex market has a constantly changing amount of knowledge, and the constantly changing market.
Everything About Forex, Is It Legal, Should We Invest ??
The trading system has never been less important.
You need to remember that to become a leading expert in the forex field is a long journey to study knowledge as well as hone your skills constantly. Success is not an easy task, but the goal of success is worth every day, it is the result of perseverance.
Money and risk management in the foreign exchange market
Money management is the key to becoming an experienced forex specialist. There are many fundamental factors that can cause currency rates to fluctuate in one direction — only to let the currency move in another direction within minutes. Therefore, it is important to limit your disadvantages by always taking advantage of stop losses and trading only when your indices are pointing to good opportunities.
Here is a forex play experience that can help you limit your risk:
Increase the number of indicators you are using. This will result in a harsher filter through which your transactions are screened. Note that this will lead to fewer opportunities.
Set stop loss at the nearest resistance level. Note that this may result in loss of profits.
Use trailing stops to lock in profits and limit losses when your trade goes smoothly. This may also result in partial loss of profits.
Above is a summary of 9 blood experience when playing forex or forex, Webtaichinh.vn believes that the above tips will help newcomers enter the market “not being manipulated” by the forex experts.
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