Never add to a losing position | ForxGen

You need to understand trends before trading. There are short, medium and long term trends. When you place a trade, you should aim to take advantage of medium to long term trends. This means that you will trade in the direction of the trend that you have identified.

It is a mistake to try to pick market tops or bottoms (reversal points). Wait for the market to clearly indicate a trend rather than trying to pick the change in trend, and ending up trading against the prevailing market trend. Trading against a trend is a sure way to lose mone

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

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Every successful trader uses a system. A system needs to tell you when to enter the market, how much risk you need to take in a position (which will determine your stop loss) and when to exit (it is unlikely that your system will be able to tell you what the exit point should be at the time when you enter a position).

A good trading system will result in average profits greater than average losses, with a manageable level of risk (measured by drawdown, or the maximum adverse impact on your account).

You need to develop your own trading system so that you can be confident of its effectiveness, and not be tempted to second guess it. We recommend against buying someone else’s system. We have seen a lot of systems that have been tested on past data, which was also used to develop the system. If a system is really good, it is unlikely that someone will sell it at a low price.

You can use the paper trading systems offered by some brokers to fine tune your system, and develop your own trading skills without risking your own money.

By registering on ForexGen, you create your ForexGen profile and you can go ahead and open as
many Demo accounts , and Live accounts as you need. All accounts can be created online and
managed under your ForexGen profile. You can mix between Mini, Standard, Pro, Premium and
No Dealing Desk accounts in one Profile. Instant Approval.

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Be very careful with FX day trading, especially when you start trading. The smaller your profit targets, the higher percentage you need to win to break even, due to the broker spreads. If you only aim for 10 pips, you will need to win a lot more trades just to break even than if you aim for 200 pips. FX day trading is usually a lot more time consuming and potentially stressful too!

Why ForexGen?

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Real-Time Chart in ForexGen

This lesson sets out some simple currency trading tips and rules .We have developed these rules from our own experience, and that of successful currency traders. These rules are in summary form, and are elaborated on in other later lessons.

Don’t overtrade

Overtrading is when you trade more positions than are justified by the amount of margin in your account. For example, if you have $10,000 in your account, this does not mean that you should trade 10 positions. In fact, you should probably trade 1 or 2 positions.

If you overtrade, it significantly reduces the probability that you will be a successful trader. This is because it reduces your ability to absorb losses and continue trading. Losses are a fact of life for all traders, so plan accordingly. You should trade about 1/5 of the maximum number of positions that you can open.

If you don’t have the capital to cover a full sized contract, consider the mini-contracts offered by some FX brokers. These contracts are usually for $10,000, and you can trade a position with $1,000 in margin.

ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen Trading Area

It is often a good idea to lock in forex trading profits when a position is positive. There is nothing worse than a position getting very close to your take profit price then having the position turn negative. Break even stop losses can also be placed to make a profitable position completely risk free.

ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.