Forex trading is always a learning process. You do not just wake up one day and decide to exchange currency. You must have a plan and a suitable methodology. It is also very important for all traders to have trading goals. Having a trading checklist and factors to consider may help a forex trader to remain disciplined. Here are some of the things to consider before getting started
His risks and rewards ratio
You should never enter into forex trade blindly. It is very important to know that there are risks involved in any steps that you make. That is why it is wise to always try and assess the risks and the reward ratio. If it is worth it, you can go ahead with the trade but when it’s not, hold back until the time is right.
Capital to invest
Just like any other trade, forex trading Singapore should come up with trading budgets before they get started. Your budget in this case should be an amount of money that you are willing to lose. You can consider limiting the leverage used in forex trading.