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Why is it profitable to invest in the Forex trading?
In this article I will describe to you, how you can get a good income on the foreign exchange market and what you need for it.
As you know, Forex is an international currency exchange market, where you can earn by speculating with currency, you buy cheaper and sell for the higer price and this difference is our profit.
What are the main advantages of this market???
1. Profitability. Good traders earn 100% or more per year, and this is a huge profit. Especially when we are comparing with banks where we maximum can get 5% per year
2. Liquidity. If you will want to withdraw the body of the deposit, it is enough to close all deals and made request for withdrawal. For example, in the real estate, you need to put the house for sale. The process itself can last several months, if there is a desire to sell at a good price.
3. Availability. You can start with $ 1000. For example, to start making business in real estate, you need to buy a house or flat, and this is cost thousands of dollars.
4. You can trade by yourself and give the capital under the management of a trader. It is important to notice, the manager will not be able to spend your money, or still them. Trader will be able to trade them only. In order to earn his commission, he must make a profit for you.
5. Risk control. When you give money under the control of another person, you can set acceptable risks. Like any wise investor, I think you realize that work can go not according to plan, and in the worst case, you can secure yourself with a risk manager who will automatically stop the trade.
What should you pay special attention ?
The age of a good broker is more than 5 years and it should work in the legal zone of such countries like: USA, Grate Britain, Germany and Australia.
2. The manager.
Grate manager should have several years of experience. It is better when he works with low risks.
3. Scheme of work.
Money in management is better giving through trust management and MAM accounts.
4. Use the Risk Manager.
It's a robot that limits loses. Sometimes something can go not according to plan, it's like insurance for this case.
5. I don't recommend to work through the PAMM account.
Usually they do not have access to trading statistics for each deal and the ability to establish a risk manager.
Top Forex Rules
Trading Is An Art, Not A Science.
Never Let A Winner Turn Into A Loser.
Logic Wins; Impulse Kills.
Never Risk More Than 2% Per Trade.
Use Both Technical And Fundamental Analysis.
Always Pair Strong With Weak.
Being Right And Early Means You Are Wrong.
Differentiate Between Scaling In And Adding To A Loser.
what Is Mathematically Optimal Is Psychologically Impossible.
Risk Can Be Predetermined; Reward Is Unpredictable.
No Excuses, Ever