MetaTrader 4 is one of the most popular forex trading platforms worldwide today. All the needed trading tools and resources are on hand to enable traders to conduct forex research and technical analysis, get in and exit trades and even use third-party automated forex trading software (Expert Advisors or EA's). Not happy with commercially available EA's? MetaTrader uses its own programming language MQL4, which permits you to program your very own automated trading robotics.
As you trade forex for a living, it's exceptionally essential that you restrict the amount of money you run the risk of per trade, so that you never ever lose money that you need in order to live. Set a specific portion of your business's capital and refuse to risk more than that per trade, so that you can ensure that you are trading safely and aren't running the risk of money that you and your family have to survive on. If you lose a large offer of cash on a single trade, it ends up being quite difficult to turn the scenario around, and your company ends up being much more of a gamble. Instead, work to make small stable gains so that you and your family can get ahead economically.
Be patient. If you make an average revenue of 2 % or more per trading day, then within 2 years the overall quantity of cash in the Balance" column of your account will grow to well over $2 million, while over that time you will have transferred-- and for that reason risked-- only $2,000. It becomes impossible to tell where the total market will go every single time when you increase this by the millions of players with various goals/strategies and various sized trading accounts.
That is why having a trading strategy is a vital part of any trader's toolkit, especially when it pertains to taking a position in the most liquid trading market on the planet. We've put together some points for you to consider prior to developing your toolkit. No limitations on trading (scalping, hedging, news, EAs, etc) OctaFX canceled all the restrictions for trading strategies. For that reason any trading strategy is invited. Whether scalping, hedging, news trading or EAs-- you are welcome to apply these trading methods at OctaFX.