How to Trade Safely?

Discussion in 'General Forex Discussion' started by Rambo35, Aug 4, 2014.

  1. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    In general experts recommend that small investors devote no more than a few percentage points of their overall portfolio to forex trading in order to limit any possible damage. What’s your way of safe trading?
     
  2. vicknic

    vicknic Confirmed ProfiForex Representative

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    Normally, humans have this tendency to always win big. This has led to unnecessary risk when doing business. However, in order to play it safe while trading, a trader needs to set a target. This could be monthly, weekly or daily targets. Depending on the size of his account, a trader can set 2% or 5% weekly profit. Others can decide to set how much they are willing to risk while trading, so that when opening a trade, that is the amount they will invest. Therefore, whether it turned out good or bad, a trader will still be able to stay in business. Setting a target is a wise step for every trader.
     
  3. HelenStclair

    HelenStclair Banned

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    Trading safely is required as Market trading is totally dependent on generating profit or loss.So its required that you should take care while trading..
     
  4. savenko

    savenko Trader

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    The analyst and the analyst again. This is the best safest strategy.
     
    Last edited: Aug 7, 2014
  5. Assassins11

    Assassins11 Trader

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    any trader who trades want to be safe as well... the most important thing with which we can be safe while trading is :
    we should trade with the smallest volume that we can have by leverage...
    always keep the volume minimum as min you can for trading ...
    you should have enough balnce to trade so that you can survive when the market move against you ..
     
  6. toretton

    toretton Trader

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    As an option to make ur trade more safe, u can use experts or advisors. Some brokers even have such service as copying of signals. I'm sure u r aware of that. Just connect ur deposit to the leaders of the world trading, and all their transactions will be duplicated on ur account. Copying trading signals is automatic, so ur account will be running non-stop without ur participation. U can choose one professional, or create an entire team that will make it for u.
    The Broker with whom I'm trading almost a year just began to provide this service and I'm very glad that they did it. Cheers
     
  7. syai77

    syai77 Active Trader

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    Right sir. The key is right using of money management. Only this thing that can make you safe in forex trade.
    So, let's learning this point first.
    In some broker such as liteforex,insta,fxcm, and some others have been become my practices place. In real trade too of course..
     
  8. davidblack

    davidblack Trader

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    Getting more knowldge and practice more and more to do Forex is the best strategy to make good and healthy profit.
     
  9. garena

    garena Active Trader

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    Find a broker that allow you to trade small volume, rebates is better. And have fund management to always control your floating fund and the equity, profit. If you can do it, you would never blow your account (except you manage).
     
  10. ProFXManager

    ProFXManager Active Trader

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    the real save way is not to trade in forex. :)
     
  11. For me to trade safely is to trade only under your trading and money management rules and not to deviate from them. To trade safely is never to risk more than a certain pre-setting percentage of your account. It also means to know when not to trade - whether because the market conditions are risky, or because you recognize being in an emotional state when you might make irrational decisions.
     
  12. srifx

    srifx Newbie

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    Select the genuine Forex Brokers
    Start your first trading with "Welcome Bonus" with no deposit.
    Update the present market condition
    Analyse the Forex Chart, before buy or sell
     
  13. I agree except the fact that you get "Welcome Bonus" only after depositing.
    These Bonuses are exactly like getting a higher leverage, as it allows you to trade with higher volume,
    however traders very rarely meet the conditions to be able to liquidate this money.
     
    Helloyees likes this.
  14. I agree, it is better to play safe than too risky. However, it's not always the best thing to do to trade with the lowest volume possible.
    Maybe in the beginning, but once you gain confidence and holding a solid trading strategy, you will sometimes to increase your volume
    in order to maximize your profits. Most real money management system are built that way.
     
  15. Fxpipper

    Fxpipper Master Trader

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    For newbies, the best way to go live and trade safely is with a cent acc, quite a few brokers offer this..and as for the rest, risk along with good money management is the key. Know how much you are risking per trade, and never risk the whole account by opening ten lots at ten percent risk/lot..you get the idea..
     
  16. FxLime

    FxLime Trader

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    You are never truly safe when it comes to trading, there are only certain levels of safety and it's up to you on which level you choose to be. This depends on money management, how much volume you choose to trade etc. Find your strategy that works for you and adjust accordingly.
     
  17. Ary Barroso

    Ary Barroso Active Trader

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    1st of all; make sure your own trading skill; then follow the money management rules so tightly; never and ever take more than 2% risk reward ratio.
     
  18. Helloyees

    Helloyees Trader

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    Every trader endevours to trade safely, considering that forex trading is a very risky business. In my opinion, proper risk management is the best way to trade safely. You should always use a stop loss and a leverage that is not too high for your account. That is safe trading
     
  19. Ann

    Ann Active Trader

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    What will be the profitability with such risks? Maybe it is better not to trade at all, but to put money in a bank at interest? Why do you need to deposit money that will not work? With a risk of 2%, you have about 80% of the deposit does not work, but lies with a useless load.
     
  20. Ary Barroso

    Ary Barroso Active Trader

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    Yes, stop loss is obvious tool here! But, till now knowledge (trading knowledge) is the key! Without having proper trading knowledge; risk management plan is not enough.
     

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