Some basic tips to get more rich in the forex market.
* You should be able to make a perfect balance type of return you want and your investments, how much money you can invest and how much time you can expect.
* The application of good money management techniques is extremely important. Your money management strategy should never risk more than 2% of your account per trade. Your account will not blow, if a trade goes wrong.
* Do not get panic if something goes wrong and don’t let your emotions take over your good business sense.
* Open an excel spreadsheet and do some simple calculations. Put less amount of money at the beginning. Gradually increase your investment range as your account grows.
* Never take too much of greedy. Try to maintain a good risk/reward ratio.
* Start slowly and conservatively grow your account over time. Slowly try to make your risk/reward ratio bigger and bigger.
* In general, the exchange rate of a currency versus other currencies is a reflection of the condition of the economy of the country, in comparison with that of other countries economies.
* So try to make your decision based on political factors such as the Recession, depression, war, political upheaval, etc
* Initially almost every trader faces failures; you have to get the enough experience and knowledge to successfully enter the coveted 5% realm with the other successful traders.
* If you have a large account balance and trading for the conservative lot size, then you can be sure that a good percentage of the time that your trade will eventually rebound, especially if it is in line with the H4 or Daily trend.
* Tries to change the trend, using the LRC and some of accurate indicators and have a particular ability to find points of reversal.
* Finally, remember slow and study wins the race.
* Forex robots are always welcome, as they help you to earn pips that he could not win without the use of a robot.