• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 7 local time, Saudi Arabia launched airstrikes against Yemen, resulting in 4 deaths.January 7th - New developments have emerged in the domestic lithography machine industry. Recently, Shanghai Weiyao Industrial Co., Ltd. underwent a shareholder change, with Shanghai Microelectronics Equipment (Group) Co., Ltd., which previously held 100% of the shares, withdrawing. Shanghai Chip-on Microelectronics Technology Co., Ltd. became the new sole shareholder of Weiyao Industrial, with a subscribed capital of 229 million yuan. Industry insiders indicate that Chip-on Microelectronics was spun off from Shanghai Microelectronics, and its core team comes from Shanghai Microelectronics. This acquisition of Weiyao Industrial by Chip-on Microelectronics may signify its return to its role as a "listing platform for related assets under Shanghai Microelectronics."On January 7th, the Information Office of the Shandong Provincial Peoples Government held a routine policy briefing, inviting officials from the Shandong Provincial Department of Transportation and others to interpret the "Three-Year Action Plan for High-Quality Development of Shandongs Aviation Maintenance Industry." Feng Lishu, a second-level inspector of the Shandong Provincial Development and Reform Commission, stated that the plan emphasizes strengthening openness and improving efficiency to create a win-win open environment. It calls for deepening cross-provincial cooperation and exchanges with the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Yellow River Basin; actively integrating into the supply chain of commercial aircraft such as COMAC; attracting first-tier suppliers of domestically produced large aircraft such as Shandong Taikoo and Nanshan Aluminum; and facilitating COMACs on-site research visits to enterprises in the province to open channels for these enterprises to be included in the potential supplier system. The plan also includes conducting international strategic alignment and various forms of international and domestic cooperation, encouraging foreign and private capital to invest in and develop the aviation maintenance industry in Shandong, actively exploring international markets such as Japan, South Korea, Europe, and the United States, and enhancing global resource connectivity capabilities.Gold prices fell on Wednesday as investors took profits, while a stronger dollar weighed on sentiment across the precious metals sector ahead of key jobs data this week. Brian Lan, managing director of GoldSilver Central, said, "Theres always some profit-taking after the price has risen (too quickly) this week…the dollar is also putting pressure on prices." The dollar traded narrowly near its highest level in over two weeks ahead of a series of U.S. economic data releases, making dollar-denominated assets more expensive for holders of other currencies. Investors expect at least two rate cuts by the Federal Reserve this year and are watching Fridays non-farm payroll data for further clues. Wednesdays JOLTS job openings survey and ADP employment data could also set the tone for the market.January 7th - According to a new notice published on the State Departments website on January 6th by the Consular Affairs Division, the U.S. is expanding its list of countries requiring visa applicants to pay a deposit of up to $15,000 to 38 countries. The notice states that the deposit requirements for the newly added countries will take effect on January 21st. The 25 newly added countries to the visa deposit requirement list include Algeria, Angola, Antigua and Barbuda, among others. The 13 countries previously included on the list included Bhutan and Botswana, among others.

Forex Trading Tips for Beginners

Drake Hampton

Mar 23, 2022 17:34

截屏2022-03-23 下午5.33.33.png


Before you embark on a new endeavor, review the fundamentals. Let's have a look at some trading pointers that every trader should keep in mind prior to trading currency pairs.

1.Awareness of Markets

We cannot emphasize enough how critical it is to educate oneself about the currency market. Take the time to research currency pairings and the factors that impact them before risking your own money; it's a time investment that might end up saving you a lot of money.

2.Construct a plan and adhere to it

Developing a trading strategy is crucial to successful trading. It should contain information about your profit objectives, risk tolerance, approach, and evaluation criteria. Once you've established a strategy, ensure that each deal you evaluate fits inside the limitations of your strategy. Bear in mind that you are most reasonable before to making a transaction and most irrational following the trade.

3.Practice

With a risk-free Top1 Markets practice account, you can put your trading strategy to the test in actual market circumstances. You'll experience what it's like to trade currency pairs while putting your trading strategy through its paces without jeopardizing any of your own money.

4.Predict the market's "Weather Conditions"

Fundamental traders like to trade in response to news and other financial and political inputs; technical traders forecast market movements using technical analysis techniques such as Fibonacci retracements and other indicators. The majority of traders employ a combination of the two. Regardless of your trading style, it is critical that you utilize the tools available to you in order to identify prospective trading opportunities in shifting markets.

5.Be Aware of Your Limits

This is a straightforward yet crucial aspect of future success: recognize your limitations. This involves determining your risk tolerance for each transaction, adjusting your leverage ratio to meet your needs, and never risking more than you can afford to lose.

6.Understand When and Where to Stop

You do not have time to sit and monitor the markets 24 hours a day. Through stop and limit orders, you may better control your risk and safeguard possible winnings by exiting the market at the price you choose. Trailing stops are particularly advantageous; they trail your position at a certain distance as the market moves, so assisting in the protection of profits in the event of a market reversal. Placing contingent orders may not always eliminate your risk of loss.

7.Kiss Your Emotions Goodbye

You now have an open position and the market is not moving in your favor. Perhaps you could compensate with one or two trades that do not suit your trading plan...just a few couldn't hurt, right?

 

"Revenge trading" is rarely successful. Allow no emotion to get in the way of your trading strategy. When you have a losing trade, avoid going all-in and attempting to recoup the loss in one shot; it is better to adhere to your plan and recoup the loss gradually rather than suddenly finding yourself with two catastrophic losses.

8.Proceed Slowly and Consistently

Consistency is a necessary component in trading. While all traders lose money, those that maintain a positive edge have a higher chance of winning. While educating yourself and developing a trading strategy is beneficial, the true challenge is adhering to that strategy with patience and dedication. 

9.Do Not Be Afraid to Investigate

While consistency is critical, don't be hesitant to reassess your trading strategy if things aren't going as planned. Your demands may alter as your experience increases; your strategy should constantly reflect your objectives. If your objectives or financial condition change, your strategy should adapt accordingly.

10.Select the Appropriate Trading Partner

It is vital to select the appropriate trading partner while entering the forex market. Pricing, execution, and the level of customer service all contribute to the quality of your trading experience.

 

Top1 Markets is a global leader in currency trading and offers competitive pricing, superior customer service, and educational guides and tutorials to help you get started trading forex.