Although the forex market is the richest market in the world, around 4 trillion dollars are traded inside, there are many people who still do not know the advantages of this market and who believe that trading is related only to stock trading. In this section we deal with advice on trading activity in the forex market, advice that you can use to achieve gains proportional to the invested capital and the risk you choose to take. Follow eToro for the best deal here.
Plan your earnings, then determine how much you want to earn in a year. Yes, it seems strange to talk about deciding how much you want to earn, but that’s exactly how you have to start.
Obviously, you don’t have to be a dreamer; you have to plan your goals well and try to avoid fantasizing: if you have deposited a capital of € 1,000 you don’t have to think about a goal of € 100,000.
Once the annual amount has been decided, calculate the monthly amount you need to reach in order to achieve your goal. This is a rational way to plan earnings, after planning the earnings you have to move on to plan the strategy that can allow you to reach your goal.
Plan the Strategy
This is a very, very important step because it allows you to earn money, to turn earnings planning into something more concrete, into something achievable. The strategy is at the base of the online trading activity in the market; it is the basis of all trading activity and must be a carrier. There are so many trading strategies that can be used to make money, some of them are based on technical analysis, and others are based on fundamental analysis, i.e. macroeconomic analysis. We always recommend using both approaches because this is the only way to achieve important gains.
Do Not Perpetuate a Loss
You must know that in forex trading, but in general in any trading activity, the losses are natural, they are part of the activity, you have to consider them as a cost: all business activities have costs, the costs of trading are called losses.