By recognizing your potential, you will be able to know which ones you can take and which ones to avoid. Often traders are stuck in unfavorable situations because they previously thought that only by utilizing the release of economic data then they will be able to record fantastic profits.
In fact, when we read certain economic data, the market has first absorbed the news / data and often have reacted just before the data is released. Therefore we should be able to look for clues when exactly we should open and close positions, you can also learn through Vortex assets.
Here are the steps to follow.
The first time you have to recognize the ongoing trend. If you see an ongoing trend is an uptrend, then you should look for buying opportunities. Conversely, if the market is in a state of downtrend, you should look for opportunities to sell. This is very important. If you have not understood the concept of this trend, you should learn about the concept of trend and the application of strategy in forex trading through platforms such as Vortex assets.
Limiting risk is one of the most important aspects that will determine whether or not the strategy you run when you are trading forex. It’s important to minimize risk and maximize profits. Therefore, the use of stop-loss is absolutely necessary to protect your position from extreme market changes and sudden. There are many techniques to place this stop-loss as you can learn through the Vortex assets website, but it is generally advisable to limit your risk to no more than 10% of your capital every time you make a transaction.