Beginner Traders Pay Less attention to the Importance of Money Management. Money Management in forex is defined as the management of trading funds. Money This management you can do with attention to Leverage provided Broker. Leverage / margin is like a double-edged knife, on the one hand can increase profits very quickly, the other side can undermine capital quickly too. You can control and Use Margin that is tailored to your capital. You should learn technical money management before playing forex. Beginner Traders do not understand the market conditions that occur. Economic news usually affects trading in the forex market. You should not ignore it. You should analyze price movements using charts and fundamental analysis of existing economic news related to global events. Learn as much as possible how different financial markets affect each other and how they relate to each other, namely stocks, bonds, commodities and Forex. Thus you can adjust the trading strategy you will use. Different beginner traders with professional traders is that professional traders focus more on the trading process than worry about the amount of profit or loss they can experience in trading.
Beginner traders are less monitor positions
Lack of monitoring positions by a novice trader can lead to trading controls being bad because there must be a disconnected and unreadable market movement. You should keep in touch with the latest market conditions with your goals maintain and increase the level of understanding of the forex market. Need you know the forex market open 24 hours so it is important for you to use Pending order at the time of leaving the computer you use for trading. Even if you use a pending order complete with stop and exit levels, you should keep monitoring the trading position you expect. As a trader preferably You often monitor market price movements.