You've learned the theory, but still don't feel confident in trading?
We've prepared a little checklist. If you complete all the steps, the risk of getting a loss will be minimal.
1. What assets to choose?
FreshForex offers more than 140 trading assets, that's why it can be hard to choose. Use FreshForex Heatmap and Economic Calendar to make a choice.
With the help of Heatmap, you can estimate rate of return of the assets for the certain period and choose the most profitable assets of this month or week.
All economic events, which may influence financial markets, are listed in the Economic Calendar. The most important of them are marked with three stars.
For instance, the European Central Bank meeting would be today, so traders would trade currency pairs with euro and European stock indices.
2. When it's time to open trade?
Check if there is a buy/sell signal depending on direction of the price movement. The main rule is: buy low, sell high!
Determine signals by yourself with the help of technical indicators in trading platform or check out analytical forecasts by FreshForex experts.
Please pay attention, even combined forecast of the analysts does not guarantee profit.
3. Is the size of trade correct?
It is important not only to choose asset and trade direction but also to calculate its size. The bigger trade is, the more funds are needed to support it. It's better to increase trade size, when it's already opened, than immediately loose all the funds. You can calculate margin and point value on pages of Forex Specification and CFD Specification.
4. Are pending orders placed?
Market moves every second. Place pending orders Take Profit and Stop Loss in advance, so you won't miss the perfect moment. With these pending orders your trade will be closed automatically when price reaches the level you had set.
Fund your account right now and don't miss good moment to enter the market!