Forex market has long been commonplace, since there is no such person who would not hear of it.Perhaps every second even tried to make it, but the Forex money management - is not easy.
As a rule, in order to start trading, you must study the theory of forex - money management and have constant access to the Internet.
The main plus - you can trade when you want and with the sum of what you have.
other words, trading on forex, money management - all of this has been called "money management".
there rules that will help you in the beginning to keep their money and possibly increase them:
- firstly, when you decide to trade the Forex, a sober assessment of their financial capabilities.As stated above, the risk of losing money for a novice trader is very, very high.Based on this, start with the amount of loss for which you will not be a tragedy.And this risk persists throughout the first year of trade;
- secondly, if you have a real opportunity to highlight the trade about five thousand dollars, it is better if you are part of the money to spend on their studies.You and minimize possible risks, and learn the basics in a short time (rather than in self-learning).In this case the recommended amount of all possible to allocate just 20 or 30 percent.Once you lose money, you can easily another 20 percent to replenish the deposit;
Let's look at an example.If suddenly you have the possibility of losing a hundred dollars, while a deposit of 20 dollars.
Undoubtedly, $ 20 for the trade - a very small amount, even a very small one.But every situation there is, as of this.Effective money management Forex possible because of the large number of types of accounts:
- Demo Account.Ideal for beginners, because you do not lose it, because the money is virtual.But you will gain considerable experience, because the theory is never meaningless without practice.Of course, such trade has one limitation: it is necessary to put a serious psychological defense in his mind, because this type of gambling you can turn into a gambler who can not manage their capital;
- cent account.Of course, this is a real trade with real money.Their dollar account is transferred to a cent, that is $ 20 in the account will be listed as 2000 cents.Plus - you learn to win and lose;
- Micro.You trade in dollars, but the minimum lot - 0.01.It is better if you can start with the sum of three hundred dollars.
Actually, Forex money management at the lowest possible amount of this can be completed.All other types are more suitable for professionals.
There is such a thing as PAMM when experienced trader simply helping others earn.Forex Money Management takes place without your direct involvement.Who knows, maybe after a while you get to this level of money management that will be able to provide such services to others?