These are a number of strategies so that forex investments do not lose money.

Investing in Forex takes courage. There are many people who have lost hundreds or even billions of rupees due to Forex trading.

Investing in Forex is like buying and selling currencies. However, forex trading or forex trading is not done by holding and exchanging physical currency such as dollars for rupees directly at a bank or exchange office, but forex trading is done online in futures bags.

Therefore, instead of trading directly, you entrust your money to official domestic and foreign brokers who directly manage commodity futures trading in each country.

In Indonesia, this body belongs to the Commodity Futures Trading Supervision Authority (CoFTRA). Brokers and stockholders are bound by a contract in the form of a payment exchange contract, which is the value of the two exchanged currencies.

These are a number of strategies so that forex investments do not lose money.

These are a number of strategies so that forex investments do not lose money.

Forex traders profit from currency fluctuations. Although the profit will be considerable, on average 10-20% per year, the associated risks will also be very high.

1. Choose a broker you can trust

There are third party brokers involved in these investments, so you should choose a broker you really trust. Forex brokers can be companies, institutions, agents or individuals who play an important role in establishing contacts between buyers and sellers of foreign exchange.

Investing in Forex almost certainly cannot be done by individual Forex traders. This is because this activity is dominated by large banks around the world where microtransactions are not possible.

It is the forex broker who coordinates each trader’s request to a larger broker so that each trader’s request can then be fulfilled in the huge forex market and at scale.

Brokers benefit from commissions charged on each volume traded by a trader. They can also earn on the spread or the difference between the sell rate and the buy rate (sell and buy).

However, finding a reliable broker is not easy. There are not many cases when brokers cheat traders and take all their profits from Forex trading.

Therefore, to ensure the legitimacy of the broker, it is necessary to use a national broker. Foreign brokers may not be able to add their activity as there are times when it is not official. You can find a list of brokers and registered brokers on the CoFTRA website (http://bappebti.go.id/pialang_berjangka).

2. Give him time to adjust

Many people do not recommend Forex trading for beginners. According to them, only experienced and invested people can trade in the Forex market. At least for those who have tried the pitfalls of stock trading. This is because Forex trading is much more complex and difficult than investing in stocks.

In addition to the experience of investing in stocks or gold, Forex traders should start trading with little capital to get used to and get used to large amounts of currency. Investors must invest a minimum initial capital of approximately USD 500 or approximately Rs 65 million at an exchange rate of Rs 14,124 to USD.

Before diving in, you can also use a demo account to get familiar with Forex trading. You should also focus on the currency pairs that you understand best, such as dollar versus rupee or dollar versus yen. This requires a focus on studying the movements of these currencies and understanding the social, political and economic causes that influence these movements.

Even if you have been familiar with Forex trading for a long time, you still have to learn. You can track every step you take while trading Forex.

This way, you can analyze your mistakes and successes to find the right trading strategy to make profits and avoid losses. Also, losing the fact that you don’t learn from your mistakes will lead you into the same hole.

3. Control your emotions and focus on your steel.

When you decide to trade forex, make sure you have an investment goal in mind. You must be able to determine what your investment goals are, how much profit you want to make from your investment, and when you want to make that profit.

This will allow you to formulate a suitable investment strategy. However, you should always be open and ready for opportunities other than your investment plan. This is because the nature of the foreign exchange market is often unpredictable.

You also need to control emotions, joy, euphoria, panic or fear, which can influence decision making and lead to catastrophic mistakes. Not only that, forex investors should have a steely spirit as the potential for losses continues to exist. Therefore, even if you have suffered a loss, you must be ready to immediately recover and move on with your life.

How are you ready to trade forex?

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