First of all, before entering Tradeonix Review any trade, there should be a good reason. You can find reason to analyzing the current Forex news and historical market trend with the help of fundamental and technical Forex tools and indicators. Once you find your reason to trade Forex, then you should determine the currency pair you are going to trade. It is highly recommended to focus on the major currencies pairs with high liquidity and transaction volume. The time periods for different currencies with high transaction volume are not the same. We know it is better to trade during the "rush hour" of the Forex market.

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Think about your take-profit target and your stop-loss limit, and place these orders before entering the trade. Even if the market situation changes, you can always adjust your target and Forex trading strategies. Placing stop-loss order would help you create discipline and minimize risk. Moreover, when you set your trading goal, please be realistic. Making huge returns in the first year of Forex trading is basically impossible. It is pretty good to have break-even in the first year. If a Forex trader can make more than 20% profit on their initial investment in their first year, it is pretty outstanding already.