1) Indicators/Trading system
i) Every indicator/trading system has its rules, Please go through the rules thoroughly and make sure that they are properly observed and well understood.
ii) While on the charts ensure compliance as regards to points of entry.
iii) Do not “jump the gun” ie wait patiently and dont imagine or create a trade where there is none.
iv) Ensure that the exit point is pre-determined prior to entry,either in terms of profit or in terms of loss.
v) Don’t take losses too personal,it should be seen as one of the business expenses.
2) Ensure that you manage your risk/money accordingly
i) Adjust your volume accordingly.
ii) Instaforex trading platform is a micro platform and it is suitable for both beginners with small capital and experienced traders with enhanced capital
iii) Do not increase your volume in excess of your capital,manage your money/risk accordingly.remember that “little drops of water makes a mighty ocean”.
iv) Do not “revenge trade”.in the event of loss,please do not increase your volume trying to recoup your loss. note that you cannot make an informed decision with an unstable mind.
vi) Ensure that you keep/maintain a trading plan/journal which should include but not limited to either your TP levels,SL levels,entry points etc. You could also apply trailing stops.
3)Ensure that trades are taken after observing resistance or support level
i) If you have missed the point or were not there ,move to another currency pair.
ii) Do not place a trade because you are in the trading room.
iii) Ensure that every condition/parameters are right for you to take a trade.
iv) Do not yield to external interference/influence.
v) Do not yield/trade under pressure.
vi) Remember that “tomorrow is another day”.
4) Always maintain a business mindset and not a gambling mindset
i) Gambling mindset would make you to negate the rules.
ii) Forex is investment and investment all over the world are guided by rules
iii) After a string of losses,please give yourself a break.
(a) it doesn’t mean that your trading system or indicators are wrong
(b) it doesn’t mean that your decision to buy or sell was wrong
(c) the market might be in one of its random movements either due to news or erratic movement
iv) The same trading system or indicator could commutatively be profitable over a period of time,either monthly or bi-monthly.
5) Do not bitterly regret over past losses or trades that you didn’t take
i) Profitable opportunities are always there.
ii) Remember that Forex will always outlive you.
iii) Inexperienced traders are fond of speaking in the past,instead of focusing on the present.
iv) Remember to always recollect the rules, observe it and apply it accordingly.
NB: Always note that InstaForex offers traders the best trading platform in the market right now.
By Paul Odibeli
InstaForex account registration only takes a few minutes and allows you to conduct trading operations in the Forex market..
After registration, you will be entitled to all Bonuses been offered to traders by InstaForex ranging from NO DEPOSIT BONUS, 30% WELCOME BONUS, 55% BONUS, 100% LFC PARTNERSHIP BONUS and so on. Each bonus received from InstaForex can be instantly used to trade financial instruments or investments in Forex projects.
This is what you need to do in order to open an account:
1. Accept InstaForex Terms of the Public Offer Agreement; This agreement does not have to be signed in order to be binding; it is as legally valid as a standard paper contract.
2. Fill in the special registration form; After you have completed all the fields, you will receive the following information via email: your trading account number (login) and trader password needed to access Client Cabinet. They are also used for conducting operations via a trading platform; your phone password (keyword) used when you contact InstaForex Nigeria Technical Support or Dealer Department; your PIN code for confirming withdrawal requests.
You can start making deals on the Forex market after you have deposited money into your InstaForex trading account for the first time. You need to do it within one month after account registration. The minimum deposit size is just $5.
Now you can set up a trading terminal on your PC, tablet or smartphone, and start real trading!
Still unsure whether you need to open a Forex account? Let us list a few of the benefits you get from trading with InstaForex:
-InstaForex is recognised as a world-class Brokerage Company;
-Instant Funding & Withdrawal from Banks within Nigeria.
-Free International MasterCard for withdrawal on all ATM’s world wide
-More than 3 million traders worldwide choose InstaForex;
-Our trading conditions are designed to suit every trader in the Forex market;
-We create efficient online services with user-friendly interface to make trading process more convenient and accessible;
– (InstaForex Nigeria Support Dept) will teach you how to work inside the trading platform, make orders, use the most effective Forex strategies, etc;
-We will provide you with all necessary information,data and Forex News;
-Our online charts featuring a wide range of additional tools make technical analysis as precise and comprehensive as possible;
-All our traders disregarding their level of experience can participate in various campaigns and contests regularly held by InstaForex
-There is a great number of trading bonuses you can get by trading with us.
CLICK ON THE LINK BELOW TO OPEN AN ACCOUNT.
Click on the following link to instantly Fund your InstaForex Account in Naira.
Click on the following link to Withdraw from your InstaForex Account in Nigeria.