Forex is the world’s largest financial market. The daily trade in foreign currency exchange is more than the entire GDP (Gross Domestic Product) of Japan.

1. Five Forex trading tips that will save beginners money
Forex is the world’s largest financial market. The daily trade in foreign currency
exchange is more than the entire GDP (Gross Domestic Product) of Japan. The sheer size
of the market offers many trading opportunities and attracts thousands of new individual
investors each year. Some of these beginners make it big while others struggle to cover
their losses. Beside the usual differences of hard work and persistence, one big factor
separates the winners of Forex from everyone else — right strategies.
Winners adopt right strategies that cut losses and increase profits from the first day and
stick to them. Combined with hard work and persistence, these techniques do wonders.
Thankfully the winners’ methods are not complex and even those learning Forex trading
for the first time can understand them. In fact, you can learn them right now. Here is a
rundown of five free Forex tips that can save and make you money. Go through them to
find out how much you understand and which tips you can use in your trading today.
Method One: Get your feet wet gradually.
It is easy to get carried away in excitement when you are trading for the first time. In the
initial stages you are not always in the best position to calculate risks and figure out the
consequences of your decisions. You can suffer big losses if you do not curb your
excitement. The winners’ strategy is to get their feet wet gradually. They trade small
amounts at first and move on to large trades when they feel they have got the hang of it.
Method Two: Start with a currency pair and stick to it.
There are more than 150 currencies in the world. You can choose any two at first and
trade in them. Many unsuccessful beginners make the common mistake of trading in
several pairs at once. Though it does little to enhance their education, the risk factor goes
up by several fold. Stick to Yen-Euro, if that is what you have chosen, for some time.
Learn from your successes and failures. And then capitalize on this experience to do
larger trades.
Method Three: Learn how to stop order, let winning trades run, and other
fundamentals.
Stop order is a common technique used in Forex to cut losses. If a trader sees his or her
loss getting bigger than planned, the currency is sold immediately at a small loss.
Preventative losses are a time-tested method to avoid large, bankrupting trades.
Letting winning trades run is the technique to not sell unless you are reasonably sure the
value of the currency in your holdings has peaked.
Besides these two, winners learn other fundamentals of the trade.
Method Four: Consult an expert.
When you are starting out, you will come across many things that evade you at first. In
these situations, it is a better strategy to consult an expert. Instead of trying to reinvent the
wheel, it is more effective to stand on the shoulders of giants.
Method Five: Remember that some losses are inevitable.

2. There is no such thing as certainty. You would have been swimming in cash if you could
figure out a method that always produces a winning trade. Because you do not know any
such strategy, the wisest thing to do is to cut your losses and increase your profits
(method two) most of the time. In order to do this, start slow, stick with a currency pair,
learn the fundamentals, and consult an expert when you need one.