With some things in mind, if you trade in the Forex market, you will never face a loss or even if it is a loss, it will not be more than 10%. However, the net profit will be above 50% per month.
Things to keep in mind when trading in the Forex and CFD market:
1. It is never right to open more than one trade in the same pair or instrument at the same time.
2. When trading in a pair, one should trade with one percent of the capital. For example, if your capital is $1000, the lot size of your trade should be 0.10 or if you open two trades at the same time, the lot size will be 0.05 each, which means 0.05 + 0.05 = 0.10 size.
3. If the amount of capital is small then day trade means intraday trade is appropriate or reasonable. If the amount of capital is high, the swing trade can be trade, which means you can keep a trade open for a long time.
4. When you open a trade, you can decide how much profit you will make. As per that You can set the take profit accordingly. In this case, it is reasonable to use a trailing stop to make a big profit.
5. The amount of profit can be withdrawn every week or month. In this case, to increase the investment, you can withdraw 50% of the profit without taking the whole amount.
6. You can also use two different accounts for Intraday trading and swing trading. There will be no problem in determining the lot size. Because the lot size of swing trade is comparatively smaller than the lot size of Intraday trading.
7. Setting up the platform also plays a unique role in trading. In this case, you can see a separate video on our website to set up the platform.
- Create an account with XM.COM
- Create an account with Icmarkets.com