As the saying goes, opportunity tends to favor those who are prepared. If we are prepared before entering, we believe that we will be able to grow faster than those who do not know anything.
So what do we need to do before the preparation?
These include: learning basic foreign exchange trading theory and terminology, understanding common technical tools, familiar with trading varieties, familiarity, process, etc.
These learning can be achieved through reading books, online learning or communication on the Internet or mobile phones.
Of course, theoretical learning is part of it, but the key is also practical operation.
It’s best to rehearse before you actually do it.
Simulated trading on the one hand is for us to learn a validation of relevant knowledge in foreign exchange, on the other hand can let us through simulation exercise, exercise their own dish, trading strategy, thinking ability, at the same time has a preliminary understanding to the foreign exchange market, to its own trading psychology training can also be helpful.
The foreign exchange market is far more complicated than we think when we actually enter the foreign exchange trade.
Therefore, it is suggested that before entering the market, we should make an objective analysis of our own personality, financial situation, especially capital risk tolerance, and reasonably set foreign exchange trading objectives. Only in this way can we treat the foreign exchange market more objectively, help ourselves to conduct transactions rationally and self-discipline in the later period, and reduce trading risks.
