Care of your investment in the forex
Forex is risky, but if you trade smart you can pull out a decent profit. You can start first with demo account and use virtual money to see how it works for free (and without any risk). Many forex trading experts are against demo accounts as it is possible that the results you can achieve are not realistic.
Also learn as much as you can about forex trading before you start actual trading. Some forex brokers offer free support and free 1 on 1 training the when you start actual trading.
Never invest more than you can afford to lose. Also avoid using high leverage. While it can bring you great profits, it can also whipe your investment clean before you even know it.
If you invest large sum of money trade with leverage 1:1 (only invested money) and never go beyond 10:1. On the other hand if you invest small amounts of money, you’ll need more leverage to gain profit. In this case use leverage 10:1 and never go beyond 100:1. Better to have slow profit than a quick loss.
Also avoid using large number of indicators. The best approach is to use up to 5 indicators and prepare yourself to spend hours observing them to determine best entry and exit points.
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