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This question can be paraphrased: whether there is an operation with the good salary? Yes, it is, but to rise on level of the good salary, it is necessary to work any time in the company to penetrate into an essence of the matter. On Forex a situation is precisely same.
If you calculate to get profit on Forex operation in a month it means that you are in a deep illusion. The earlier you will quit it, the cheaper it will be managed. In my opinion, to come nearer to profit reception it is necessary to pass some stages.
1. It is necessary to seize elements of the technical analysis.
2. It is necessary to learn to feel danger and the nobility when it is absolutely unreasonable to enter into the market.
3. Ability to find an entry point in the market with a minimum risk level is necessary.
To pass all these three stages the training score with virtual money are quite enough. Thus you have to carry on it for at least some months. It will allow generate the strategy, reveal its weaknesses and to concern the virtual deposit with the same respect, as to the small reality.
4. It is necessary to change some qualities of the character and to generate the new, and to improve the trading strategy.
At this stage the small real score is required. It seems to me that for these purposes is better the deposit of equal 30 % – 50 % of the salary will be the best. It is quite enough such sum to be in earnest about the deposit rather, and at the same time such small sum allows feel rather comfortable, excepting a panic at the slightest movement of the market against you.
I do not recommend open the deposit on the saved money, thinking fast to double the deposit and to repay a debt.
I know: it is almost impossible to sustain such psychological pressure.
Moreover, if you do not have sufficient sum of money for deposit opening it means that the Life-destiny does not wish that you did it. Who wants to go against the destiny…
It is not any more boldness, but it is nonsense.
5. It is necessary to have a certain experience.
Experience allows not only find successfully good entry points and an output, but also correct errors with the minimum losses or small profit. Besides sometimes there are such situations when mind intuitively sees familiar model (pattern) of the market and unmistakably accepts a right decision even without the deep technical analysis of a situation.
6. It is necessary to have enough big deposit.
At an initial stage of operation on Forex to double the small deposit is possible. If expected movement of the market in 100 items corresponds to profit in 20 % from the initial deposit, it is necessary for you only 500 items of profitable transactions to double the score.
If you reach the sixth stage of operation on Forex you will not have any problems with the deposit.
The selection of a foreign currency trading service is not an easy task. And one shouldn’t hurry up to make a decision on such a service.
It is very important that you follow some general tips – today the online technologies give you a truly unique chance to choose what you want at the best terms which are available on the market. Strange, but most of the people don’t use this chance. In real life it means that you should use all the tools of today to get any foreign currency trading information that you need.
Search Google or other search engines. Visit social networks and check the accounts that are relevant to your topic. Go to the niche forums and join the online discussion. All this will help you to create a true vision of this market. Thus, giving you a real chance to make a smart and nicely balanced decision.
P.S. And also sign up to the RSS feed on this blog, because we will do the best to keep updating this blog with new publications about the topic of how to trade foreign currency and important trends on the currency exchange market.
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