Forex (foreign exchange) – is a currency exchange on the global financial market (short for the English word – FOReign EXchange) As the name suggests, Forex is a centralized market for the exchange of global currencies. When it comes to global, we already imagine the enormity of this market.
Vietnamese law prohibits the sale of foreign currency. But investing yourself through the floor is not illegal. Since the exchange is a broker they are already registered with the legal authority. I just asked the trading floor to help me cross the floor.(forex investment legal)
The state does not ban it, but it does not support it either. Because now thousands of people are already involved in this field, if they were to be caught, they would have already been caught. And when he was arrested, the press was already in the news. Those who play billions are not afraid, if you have a few million or a few tens of millions, what are you afraid of? If anyone is arrested, which prison will contain them all?
Avoid the mentality of greed: refuse to cut profits, refuse to take losses
Everyone’s chances are 50/50. The Forex market can always feed itself to some extent.
The more greedy, the more you lose, the more afraid you are, the more you don’t dare to enter, which is also the reason why you lose the opportunity to enter the order. Fear of catching the bottom and fear of going down, afraid of catching the top and it will go up again. You just need to enter the order with the correct technique, have a stop loss and take profit.(Read more : professional trader)
If you lose or win, just ignore it. Because when you just follow the methodical knowledge, according to the statistics at the end of the month, you will still be profitable.
Take note of what you place orders and statistics on it, learn from experience when you lose and promote your winning orders well. It helps you to be effective in the process of understanding the cause to learn from experience.
If you read charts well then you don’t need to read news because news to show on the chart through price. But the more you read the news, the better because it also tries to feed you through the chart.(Read more : stochastic tool)
Reading more news will help you to trade better
Trade account trust: there are many types (real and can also be scam). Find a reputable place to deposit. The wallet may be used to get money and then report that they have lost all their investments, then no longer have money to pay you.
But it is also true if you meet the right people because they actually play well (they make a lot of money) and they also want to help you earn more and they also benefit from winning trades (like 5/5, 7/3 split). something up to you and they negotiate).(Read more : forex broker)
At first you should practice playing a demo, and play a small $ 100 (more than 2 million). You practice playing small lots, when you win well and regularly, then play for real.(Read more : the future of Bitcoin)
Choose the currency pair you have the most profit, in this pair you have the most profit, then play, choose the time frame you are most alert and have the most regular winning orders, then play that time frame. As it may suit your personal bio.