Forex Nominations 2020
One of the best things about Forex is the ability to use it for long-term investments as well as for short-term ones. You can keep your position open for months, but a lot of people prefer to close it within 24 hours. That’s what they call day trading. Let’s see how you can get the best of it.
Just as everything in Forex, day trading demands control over your losses. Never skip this crucial step!
Usually, traders don’t risk more than 1% of their overall balance. For instance, if you have $2,000, you should not lose more than $20 on a single trade.
Pro-tip: use stop-loss option to control your risks better.
Win rate: it’s the number of deals you close in profit out of the general amount of your deals. If you make 100 deals and close 52 of them in profit, your win rate is 52%. Any number above 50% is deemed successful!
Risk/reward: compare your losses to your profit. If you have lost 10 pips but later gained 12 pips, you have reached the bigger amount after all.
Make sure you choose your leverage wisely. Stay away from extremely small and extremely big ones, keep it moderate and mind your stop-loss level. Leverage is your best friend if used wisely.
Slippage is a sudden price movement that can bring you a significant loss on your deal, even if you have your stop-loss level set. The price just drops extremely fast and, in fact, doesn’t reach the price you set for your stop-loss, establishing much lower instead. To avoid such situations, it’s better to avoid day trading during major economic data releases (don’t forget to check your economic calendar).
Day trading is a perfect opportunity to get a decent amount of money if you regulate your risks properly and keep up with a strategy. Make sure to check out your win rate and maintain it above 50%, as well as choose your leverage, and day trading will bring you 5%-15% a month.
Cryptocurrency trading has become a big business and is extremely popular for people just entering into the trading space, as well as for major...
The one of a kind financial asset has been compared to gold and said to have the potential to unseat the dollar as the global reserve currency one day. But how does...
The idea of Bitcoin and other cryptocurrencies feels like it has only just been created, but the first instance we see of these digital assets came out around 11 years ago...
The recent creation of cryptocurrencies has taken the world by storm as this new digital currency space looks to disrupt the financial sphere, as well as the investing one...
|1||Best Forex Broker 2020|
|2||Best Execution Broker 2020|
|3||Best Forex Expo 2020|
|4||Best Cryptocurrency and Forex Broker 2020|
|5||Best Crypto Currencies Stock Exchange 2020|
|6||Best Gambling Expo 2020|
|7||Best Micro Forex Broker 2020|
|8||Best Crypto Broker Asia 2020|
|9||Best Trading Platform 2020|
|10||Best Crypto Trading Mobile App 2020|
We are evaluating and honoring the best forex brokers in almost 30 nominations
FxPro is an award-winning online broker offering Contracts for Difference (CFDs) and Spread Betting on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in...
NordFX is a leading multi-awarded international broker that offers individuals and companies a full set of services for Forex trading. Since its foundation in 2008, NordFX always keeps abreast of...
© 2010-2020 Forex-Awards.com
The usage of this website constitutes acceptance of the following legal information, Terms, Conditions, Cookies policies.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including graphical information about the forex companies, brokers and others, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Awards shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the press releases or reviews made by the site contributors about the forex companies. The entire responsibility for the contents rests with the contributors and commentators. Reprint of the materials is available only with the permission of the editorial staff.