Risk is a factor with forex trading, especially for those who are inexperienced. This article contains a number of tips that will help you to trade safely.
You should have two accounts when you start trading. One account is your live trading account using real money, and the other is your demo account to be used as a testing ground for new strategies, indicators and techniques.
Becoming too caught up in the moment can lead to big profit losses. Being scared and panicking is also a cause of lost funds. Trades based on emotions will get you into trouble, whereas trades based on knowledge are more likely to lead to a win.
Reinvest or hold onto your gains, and use margin trading wisely to maintain your profits. Used correctly, margin can be a significant source of income. However, if it is used improperly you can lose money as …