3 Must-Know Lessons  

 Before You Start Trading Forex 

"You have to learn crucial elements of how to succeed in Forex trading, such as how to protect your funds and how to create your own Forex trading strategy."

- Andrew Nates

Forex trader with 7 years experience

ONE
Reality and the Mental Game

  • Be ready to lose: Even the most successful traders went through a lot of losing before they understood the game.
  • Focus: You can’t have massive profits without taking certain risks. So don't wait for shortcuts!
  • Mind over the knowledge: You have to understand, feel, and respect the importance to prepare your mind.

TWO
Money Management

  • Risk per Trade: When entering a position you then should only risk about 1% to 3% of your capital on each trade.
  • Reward to Risk Ratio: If you are only risking 1 to 3% on each trade, then you should be looking for trades that give you a profit potential of at least 2 times that.
  • Scaling: Use scaling techniques to enter and exit positions as it allows them to focus more on a general market move instead of trying to pinpoint the exact price level to get in at!
  • ​Pyramid Scaling: Risk only 1% of your capital to start and watch to see if the market goes in your favor (bounces off Fibonacci line) or not!

THREE
Start Your Action!

  • Demo Trading: Demo Trading is your first step in decision making time and finally getting to use practice all that you’ve learned so far.
  • Download Demo account: Start pressing buttons! Seriously, this is the best way to really dig deep into something and learn how it operates.
  • Focus in on what you learned:  Practice the different orders you can place and how you can edit or cancel them; notice the margin you need for different crosses; the spreads they offer and if they show standard spreads or fractional spreads
  • Experiment: After you have mastered the mechanics, you can use the demo platform to experiment with different trading styles and determine your trading personality

+ Extra recommendation

Try IC Markets!
Here is why...

  • Lower Spreads:  Lowest spreads possible during all market conditions. Strong relationships with some of the largest and most reliable liquidity providers in the market. 
  • ​Faster Execution: IC Markets utilizes enterprise-grade  hardware on our trade servers in the NY4 & LD5 data center in New York & London respectively. Our trader servers are collocated with the data server of our pricing providers in these data centers. 
  • Unrivaled  Customer Service:  IC Markets strives to offer you the best possible customer service and support. Our team has a significant amount of experience within the forex industry so they understand what traders want and need. You can trade with confidence knowing that the IC Markets team will always be there to help 24 hours a day, 7 days a week.
  • Regulation: IC Markets is regulated by the Financial Services Authority of Seychelles (FSA) meeting strict capital requirements. All client funds are held in segregated client trust accounts with top Australian banks. IC Markets do not use these funds for any operational expenses or purposes

Are You Ready To Get Started Trading Forex?


100 know-hows team recommends 
to join IC Markets to experience tight spreads 
and trading conditions plus 
a live support team committed to helping you.

Risk warning: 
Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Please acknowledge all of the risks associated with trading.
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