Bases things For Forex trading

Choice of Broker

A good broker is the one who doesn't charge any commission from you.All good brokers always try to earn money through spreads and they don't charge any commission from traders.For example,A broker who charges some commission whenever you place an order,either you get profit or losses he will charge a fix amount as commission.While,Good brokers always try to make money through spreads difference.The amount of difference between sell and buy price is called spread and lowest spread is always best for you.Try to select a broker without commissions and also with low spreads like Instaforex,etoro and Avafx.They don't charge any commission on placing Forex orders.


Trading Personality

The most important thing while trading is the determination of your personality.You have to trade as per your personality.If you have a quicky type personality and you can't sit for hours watching your trades going for losses,then short entry or day trading is best for you.It is also called scalping.Scalping should be done after trend finding.If some currency pair is moving in uptrend from past two hours or the whole day,you must buy it along the trend but buy when it has come below the top point of those two hours or the day.Always pay attention that no news is coming about that currency during that time. If a currency pair is going in downtrend,selling that at the top point of the day or hour would bring profits for you.