How to make orders for foreign exchange speculation? Many investors, especially novices, don’t know how to speculate in foreign exchange. Foreign exchange speculation does not mean that investors only need to enter the market and open positions. There are many precautions for each step. Let’s take a look at the detailed steps of foreign exchange speculation.
First, we must first grasp the trend when building a position in foreign exchange speculation
No matter how the market changes, the first thing to consider when placing an order is the trend! If you choose the right direction, you must follow the trend no matter how you place the order. I believe that 80% of the orders will be profitable. Therefore, before placing an order, it is necessary to analyze the current pattern of the foreign exchange market, whether it is long, short, or volatile. In long and short orders, take the trend to place orders, as long as the trend is judged, the correct rate will be greatly improved. And if you are in the process of oscillating, then you are choosing the trend. The oscillating process is better to place orders. The method is to maintain the interval to place orders after interval positioning. Often such market risks are relatively small.
Second, pay attention to point selection when speculating in foreign exchange
How to choose points for foreign exchange trading? It can be divided into entry point, stop loss point, and profit point. These three are the three major elements of the order process. The entry point is related to the cost issue. No matter which trading product, a wave of market will not keep rising or falling. If a given entry point passes a certain point, then enter the market again. It is already profitable, but those who just entered the market are still struggling with the spread. After selecting the entry point for foreign exchange speculation, you must set the stop loss point and the profit point to ensure that this list is meaningful.
Third, pay attention to position control when speculating foreign exchange
In the process of learning how to place orders at the beginning, it is very important to control the position! Only light warehouses can take long-term profits, which can make permanent profits, heavy warehouses can make huge profits, and they can also instantly liquidate positions, so develop a good habit of controlling positions. Only when the position is stable can the proportion of positions held, and the fixed number of lots is used to make orders, in order to continue to make profits.
The above is the detailed steps of foreign exchange speculation. If investors do not know how to make orders for foreign exchange speculation, they can register for a simulated account for simulated trading. Use simulated trading to familiarize yourself with the process and detailed steps of making orders for foreign exchange speculation.