Here's How To Be Safe When Trading Forex

When it comes to investing, there are many instruments to choose from, for example forex trading. Broadly speaking, forex trading is actually a form of investing in the activity of buying and selling foreign currency or foreign exchange and hoping that the value of the foreign currency purchased increases.

For example, you buy dollars with a value of Rp. 10,000 and currently the total dollar is Rp. 14,000, so the profit earned is Rp. 4000. Forex trading must involve certain currency pairs that can be traded and traded according to conditions to make a profit.

Talking about forex trading, this instrument belongs to a group that is quite risky but the benefits are also large. Doing so requires knowledge, thoroughness and prudence, because without it all the money traded will run out in an instant.

Here are 6 Safe Ways to Trade Forex

1. Learn from Zero

Even though it looks simple, it doesn't mean it's easy to run, because this business is full of risks. Learn forex playing techniques, if you are not an expert, don't hesitate to learn from an expert who will tell you all the information about stocks.

2. Choose the Right Broker

There are many brokers scattered in the features market aka futures exchange, be it local scale or global scale. In order to transact safely and not be deceived by fake companies, be sure to choose a trusted forex trading platform.

If the broker to be partnered with has not been registered as an official institution, you should not proceed with registration. How to check on the official website of BAPPEBTI (Commodity Futures Trading Supervisory Agency).

3. Provide Small Capital

In doing forex trading does not require a large capital. Before deciding to participate, try to prepare funds that are not too large first. It is recommended not to set a large enough capital because if you do not understand risk management, it is very risky.

4. Change the Forex Playing Mindset

Some people think of forex trading as a game that can bring huge profits in an instant.

In forex trading, you need a safe strategy that requires careful calculations. Because every decision in forex transactions must go through several considerations so as not to fail.

5. Buy Stocks When Prices Drop

Tips for playing forex the safest by buying shares when the price is cheap. To know this opportunity, you must often follow the news and don't hesitate to spend money to buy it.

6. Stop Loss

Many people lose some money while playing forex because there is an error in managing capital. The best thing that can be done if this happens is to stop the game immediately. You have to use stop losses, and you have to get out of the market before you lose a lot of money.