A1: Trading forex is of course safe. The reason is because today more and more country regulates forex market and they enforce strict rules that every forex broker must follow. As a result, we find that only the good brokers stay in the forex trading industry. On a personal level though, it is up to you to determine the safety of your account. If you trade recklessly then you will find that your capital will drain rapidly. Sometimes it is faster to lose money in forex trading than in casino. Therefore, you need to prepare yourself mentally and acquire lots and lots of knowledge or you can choose to go with hiring a good profitable trader and subscribe to his trading signal service. The latter is by far the faster, easier way to trade forex if you have limited or no knowledge about forex at all.
Several experienced and profitable Forex market traders will advise you to journal your experiences. Track the results of each of your trades. This can give you a clear indication of how you’re progressing in the Forex market and enable you to analyze your strategies for use in future trades, thereby optimizing your profitability.
Now look at the oil companies. They reduced risk, believing crude oil prices would fall below the contract price they negotiated with Southwest. They acquired risk because the price of oil rose higher than the contract (thereby losing additional revenue they could have earned). In this case, their leverage was not as good as it might have been.
You will encounter dishonest traders and dirty tricks in the Forex market. Many Forex brokers use clever systems. However, it takes time and skill to keep this sort of method from failing. These tricks include things like stop hunting, slippage and brokers quantum ai trading against their own clients.
Now, when it comes time to view the track record you want to look at two things — Winning % and Average win compared to average loss. Why both of these things? Because a Guru can have a 90% win rate, but if all those winning trades are 2% and his losing trades are -40% then you will have a losing method on your hands and you want to RUN as fast as you can.
Do not allow emotion to influence your trading: Emotional trading is one of the greatest causes of loss in forex. The market is a speculative environment and no one actually knows what will happen next. As a result of this, you shouldn’t allow what you or others have experienced in the past to influence your trading. The experience could be positive or negative but the most important thing to note is that you should be neutral.
Learn – A trading system is not static. Keep your mind active by always learning. The more you study the stock market and options trading system, the more you will know and the better off you will be. If an options trading system was like a tic-tac-toe system, then we would all be wealthy. Thankfully, options trading is not as boring as a child’s game. Learn something new every day and absorb it into your options trading system. I do.
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