just like anything else. Use lot sizes that are reasonable compared to your account capital. If youve read previous articles of mine on Forex Magnates, you may have deduced that my personal favorite was the. However, even beyond the retail segment, panelists pointed out the difficulties among professional traders in FX, especially among fund managers, where the industrys longest lasting fund, FX Concepts closed its business during Q4 2013.
If you havent checked it out before, heres your chance to start out fresh for 2014 and get ahead of the game. For example, you may have seen a currency" for a, eUR/USD pair.1256. In all currency" cases, the base currency is worth one unit, and the"d currency is the amount of currency that one unit of the base currency can buy. As your capital gets depleted, your ability to make a profit is lost. Trying to grab every last pip before a currency pair turns can cause you to hold positions too long and set you up to lose the profitable trade that you are trading. In this regard we are already seeing an increase of non-FX products coming to light ( bitcoins anyone? 1,000 is a reasonable amount to start off with if you trade very small ( micro lots or smaller ). Among the items during the event were numerous panels taking place with discussion about the industry. As one can imagine, client losses wouldnt be something that a market maker driven industry is too worried about.
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