Have you ever traded FOREX?
Do you have the intention to return back to FOREX trading?
Before you take that bold step to invest your hard earned fund into FOREX,
there are some few tips or advice I wish to share with you. If you can take
note of these few tips, it will help you. You can read the first 10
tips on the image above, while tips 11-20 are my own personal
experience in the business.
11) Never invest an amount you cant afford to loose.
12) Never accumulate your earnings to an amount you cant afford to loose in
your online FOREX account. This includes both your investment and profit
already made. In-fact, once you make profit of 50% to 100% of your
investment, please withdraw immediately.
13) Resist your personal FOREX broker temptation and advice to make you
invest very big. The truth of the matter is this, men are in sizes and life
is in phases, and always cut your cloth according to your size . Your
personal FOREX broker is on a paid salary to the online FOREX platform and
will not jeopardise his job just for you to make profit at the detriment of
his company. Sometimes, your personal broker may advise you to invest
big or more, please be careful, only invest what you can afford to
loose because your personal broker is only doing his or her own job
and may even get rewarded to make
you invest big in the platform. Your Broker is not too different than
a bank marketer. They have targets too.
14) Your personal broker will not tell you everything. You will learn some
things the hard way so be prepared.
15). Do not depend or become over excited when promised bonus on
funding your online FOREX account by your FOREX platform. Some
platforms would promise you 100% bonus , some others 200%, 400% and
don't be surprised if you even see up to 1000 % bonus.
If you see these kind of mouth watering offer, be very careful and
make sure you look carefully and ensure your safety is guaranteed
before you leap. I have come to realize that , on some platforms, all
these bonus offers can not be withdrawn until certain profit level,
which means you have to trade more to make profit before you can
withdraw your profit and the bonus together.
On some other platform, you can only get the bonus if you fund your
account within a time frame or deadline or with a particular amount.
Finally, on some platforms, the bonuses promised are just dummy value
which has no significant impact on your account.
You may actually see the balance on your account increase, but when
you place trade, you are actually trading with your own funds and not
the bonus given to you. This is from my own personal observation, so
you must be very careful with the platform you choose to trade with.
Sometimes, the bonus is just a psychological thing causing a
psychological effect on you to invest more and feel secure with the
platform.
If you ever want to be sure if the bonus given to you is actually
yours, request for withdrawal after you have been credited with the
bonus without trading and see what happens or request for full
withdrawal with the bonus after making a few profit and you will
realize that these trading platforms are not running a charity
organization. Rules, terms and conditions that were silent and that
you were never told would suddenly emerge.
16) Trade only when you are around, ignore stop loss or take profit.
17). Have a profit target for the day and a loss target of the day.
18). Do not trade your account to critical limits. Once you get alert
that your tradable margins are low, try to close some trade and get
more trade margins.
19). Do not fear to trade other currencies or commodities that you
were not told.
20) . You must be very flexible and smart as the business you are
venturing into is highly volatile in nature. Always verify the
authenticity of a platform before you start trading. You can ask
Google if a particular FOREX platform is real or fake and read up the
result and recommendations given by traders before you decide on the
platform to invest with.
FOREX is still one good business I can advise anyone to venture into,
it is 100% legal but not with the sole aim of turning millionaire
over night .If you have any question, please feel free to ask by
dropping your questions in the question box below.
