20 rules to be known for a successful forex investor

Forex has caused many disciplined and inexperienced investors to live with great losses for years. But you do not have to be lost. By using the 20 forex investment tips we have outlined here, you can avoid losses in your investments and maximize your potential.

1- You Need to Identify Your Needs to Accurate Your Risk Limits

You need to know the market to make a profit in your investments. First, get to know yourself in order to get to know the market. By definition, you will ensure that the amount of risk and the amount you will invest will not be less than necessary. This means; When investing in forex, you should always be careful and analyze your financial goals.

2- Plan your goals and do not give up on your plan

First of all you should know what you expect from the investment. For a successful investment, you need to have a systematic calendar and work plan. How long does it take to process with the trial and error method, which is an important part of the learning process? How much time should you deposit? What do you expect from your investments? You first need to know these and similar questions and be able to give the right answers in order to be able to create a vision of a sensible investment.

3- Transactions to be Performed Carefully Selected.

Although the choice of brokerage house has been neglected by start-up investors, there is no doubt that you have a great proposition for your investments. When you work with untrustworthy and fraudulent intermediary institutions, all your efforts and gains will be wasted and lost. As well as your level of expertise, your investment objectives must be in line with the brokerage commission requirements. What types of account profits do the investors who make profit and reach their purpose have? Does your brokerage software meet your investment expectations? Does your brokerage house have effective customer service? Before investing, all these details need to be examined.

4- Account Type Selection and Determination of Leverage Ratio Suitable for Your Expectations.

Our investment process is to be able to choose the type of account we need, the level of knowledge we need and the type of account we want. Many types of accounts can be offered to you by the broker, and they can seem complicated at first glance. Generally, the ideal type of account, the leverage ratio is the lowest type of account. The standard account type will be useful for you if you have unlocked leverage and are able to make successful transactions. If you are a beginner investor, you should have a working period and you have to do practical things in a mini calculator. Often you do the movements that minimize your risk and increase your chances when you start to invest.

5- Deposit Start with Small Amounts and Attach Additional Deposits, Earn Profit to Grow Your Account

One of the most important tips for new Forex traders is that you have to trade with small amounts and a low leverage ratio until your account is profitable. Investing in large amounts does not guarantee you will earn more profits. If you can increase your account balance by making a profit by natural means, the choices you make are correct. If you can not profit by natural means, adding money to your account will not give you anything, it will cause your money to go to waste.

6- Focus on a Single Currency Up to Your Success

There are so many exchange rates in the world. It is very difficult to master the financial movements of these currency pairs. So the best thing to do is to trade with your foreign currency the most appropriate of your investment plan and understand its movements. In this case, it is best to start investing in foreign currency that includes the currency of your own country.

7 Practice What You Learn

Actually, this principle has been frustrating for many investors. Generally, when you are not sure what you are doing, you can strongly defend and accept your own verdicts, and do not take action in such cases. Avoid trading on statements. You should not make any move until your open transaction is really positive and you are sure it is correct.

8 -Do not Keep Your Positive Positions Open.

Failure to comply with the principles and carelessness has caused many investors’ operations to be catastrophic throughout history. In the market, nobody knows exactly how long the prices will go in the same direction, it can continue for days, weeks, months. There are many expert opinions and forecasts on this subject, but nobody can tell exactly how long after the price and on what level it will fall. Therefore, only the process that is currently open is meaningful. Remember, nothing can tell you certain things about the future.

9- Check your emotions.

Investors usually do not calculate the effects of greed, excitement, panic and horror. But as a human being you also worry when you hear this kind of investment. It is always advisable to start the deposit in small amounts. Moving with your feelings you can reduce the most and you have to stay cool in the face of risks to reach your goals.

10- Take note. Work on Your Achievements and Errors.

Investments never start with an analytical approach in the form of basic and technical analysis and price trending. You invest your first pawn in the transaction and you start to do your first mistake and to work on your method and account. A successful investor regularly notes any errors and successes you make during the investment process. It determines what you are doing to achieve success or which strategy is not working.

11- Automate your investment as soon as possible.

We always know that it is necessary to be able to provide emotional control to be a profitable and successful investor. Another way in which the role of emotions in investment can reduce the most, is to automate our trading strategies and orders. This isn’t mean that buying forex robots. All you need to know is that the responses you make while investing are usually the same and naturally repeat the same cycle throughout your entire investment strategy. In other words, there is no unexpected situation. By following the reaction you have to the market, you can develop an automated test model.

12- Don’t Really Trust Forex Robots, Plans That Are Supposed to Be Excellent, and Newly Released Products

New emerging, untested strategies and products are very popular these days. These products provide good profits for sellers, as well as a very small gain for buyers or a complete frustration and loss factor. In fact, it is easy to be protected against such effective products. Those who developed the products would have been very intelligent, they would become millionaires with these tools they discovered.

13- Be clear. Your analysis and investment plan should be understandable

Forex is not a space science. By trading in forex, you should be an anticipation of mathematical prejudice, being an economics professor or a portfolio manager. Instead, you have a clear vision, good observing ability, carefully designed investment objectives and regular practices make you a good forex trader. In order to be able to do this, you must be able to see your mistakes, explain the cause and rationalize it. What is called failure is unsuccessful if there are still things that cause it.

14- Do not Move Against the Market unless you have Patience and Financial Flexibility in the Long Run

It is usually advisable for new investors not to trade against trends and to follow the upper and lower limits according to the momentum of the main trend of the market. Keeping up with the trend will make you comfortable. Acting against leaning can put you on the streets and cause your investment career to turn into a collapse.

15- Understand that Forex is Probability

Forex is usually concerned with risk analysis and possibly. There is no single way or method to make a profit. The key to success in Forex is that your losses in your positions are getting smaller and your profits are increasing. Providing such a situation is possible with a risk management in which the risk distribution is made with appropriate possibilities.

16- Be Humble And Patient. Don’t Face the Market

Be aware of the mistakes you make, and if you can not remove them completely, learn your reasons for making mistakes. Resistant to illusions and deceptive situations before anything else is the cornerstone of investment. Any other attitude will be devastating for your investment career.

17- Share Your Experiences and Become Common.

It is a great idea to discuss your ideas with other investors on the market, but as a result you need to make a single decision. Obviously, be open to other ideas but finally implement your own ideas. After all, you are the owner of money.

18- Work For Money Management

Once we start making profits, we need to learn to protect it now. You should not forget your profit will not stay on Forex. The important thing is that your damage is in small amounts and your profit can multiply. Successful money management is about minimizing losses and maximizing profits. For this reason, you should keep a basic resource about money management in your library and work regularly.

19- Do Market Research. Learn how Technical and Key Factors Influence Price Movements

Incorrect analysis often leads to failed accounts. It is impossible for the investment career that started in the light of erroneous technical and fundamental analyzes to be successful.

20- Don’t give up

As a result, you will have as much as you have removed, riskier and patience, which will give you wonderful experiences to succeed. Even if you have not been investing overnight, the most logical thing you need to do before giving up is to persevere and see your talents develop. In your learning process, if the amount you risk is not large enough to affect your future plans and your future, you can complete this process without too much damage.

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