==== ==== Discover this weird trick they don't want you to know at http://tinyurl.com/Lower-Risk-Forex ==== ====
Are you risk averse? I certainly am and it wasn't until my friend turned me on to a really effective way to drastically lower risk in trading forex that I actually felt safe trying it. If you are allowing your fear of risk to stop you from trading forex and reaping the incredible profits it can bring, I want to share what I've learned with you. While you can never completely eliminate risk from forex trading, there are certainly things you can do that will greatly reduce risk. Below, I list several different ways of lowering risk but keep in mind that the last one is by far the most effective. Remember, you don't have to trade just one currency pair - you can spread the risk and trade different pairs. You can also avoid trading high risk pairs and stick only to "safe haven" pairs. This will lower your risk. Right now, the Australian and the Canadian dollars are considered "safer bets." Another wise move is to limit the amount you invest in any one trade to a small percentage of your total investment. Some experts recommend no more than 1% but I think they are thinking of investors who start out with $5000 or more. If you're starting out smaller as most people do then I recommend bumping that up to maybe 5% on a single trade. However, the idea of taking smaller positions in each trade to lower risk is sage advice regardless of the amount you start out with. Don't trust the accuracy of a demo account as it can lull you into a false sense of security. Demo accounts were originally set up and designed to help a trader get familiar with a platform - they were never meant to be used to test strategies, although that's what's being recommended widely today. If you use a demo account, keep in mind that the pricing is often way off and the emotional influence of fear and greed on decision making will NOT be there in a demo account. To lower risk, I actually recommend that you not use a demo account for very long as it can teach bad habits that will make your live trading more risky. The very best way to minimize risk before you become a real expert at forex trading is to receive real time forex signals from expert long-time forex traders who are still trading - then, stick to trading these signals for a long while (months, if not more than a year). You can follow these expert forex signals in real time trade for trade. This DRASTICALLY lowers your risk and you make really good money while you learn! It's like riding a bicycle with training wheels. You may not go quite as fast or fancy as you may eventually get to but you'll be riding in the right direction and you won't be at as high a risk to fall down. The best of the best forex signaling services offer plenty of training in addition to the signals. It is very helpful to have forums to ask questions of the experts and your fellow signal receivers,
tutorials, webinars, FAQs, etc...
Here is the best live forex signal service I have found. You get real time signals from two of the best traders in the business who still actively trade plus they include almost instant feedback and webinars, videos, and articles to explain their decisions exactly. They DO now offer auto-trading (this is a fairly new decision as they want people to use the signals to learn and not just always set them on autopilot) and this is auto-trading of the very best of the best signals available. There is a lot of information on the website so you can check it out for yourself.
Article Source: http://EzineArticles.com/?expert=Joe_Wolfe
==== ==== Discover this weird trick they don't want you to know at http://tinyurl.com/Lower-Risk-Forex ==== ====