To a rookie trader in Singapore, saving the capital should be the first priority. From the historical data, you can never see a novice in this business who have not lost. In reality, the scenario is the opposite. The novice traders barely see any winning trades in their account. It may be hard for the traders to lose money but without losing, no one can learn about proper trading. When you learn from the mistakes which causes the losses, you can improvise. From time to time, the trades will get very efficient. Because you will have proper risk management. With it, the lots and leverage will get a decent setup. You will also work on the market analysis to define a proper position sizing. It is good to learn the entry and exit points of a trade even before placing an order.

With all things corrected, the traders will be able to define a proper trading business. With proper performance, the losses will be less too. That is what, we are going to discuss in the following of this article. If you want to pass the survival stage of Forex trading, this article can help you a lot.

You need to follow a strategy
From the introduction of this article, the traders need to follow a certain strategy. It is not so easy to define the most suitable one for your trading style. So, you need to explore different strategies and plans for risk management. If you ask us, we would suggest the 1% money management policy for the risk exposures. Along with the lot size, the traders also need to define the right leverage to the orders. Using a proper strategy like the 1% risk management and a 1:10 leverage for the orders, it is possible to keep the trading money safe.

Once you make a proper risk management plan for the trades like that, it must not be denied at once. You need to be consistent with any plan and use a premium online trading platform to find quality trades. Otherwise, the executions of the trades will not be efficient. A disciplined trading approach also increases concentration on the trading plans rather than the returns.

Use a proper entry plan
Once you have cleared the right risk management strategy, it is necessary to set the entry points. Using a proper money management plan along with the risk management, the traders need to set the starting position of the trades. Besides, the closing position is also necessary for the trades. It will help you to deal with the stop-loss and take-profit.

If your mind is careful of the entry point, it will focus on proper technical analysis. There are a lot of skills and tools suitable for proper analysis. Take the trend lines for example. You can easily define the possible price movement using just the trend lines or trend zones. Besides, there are much more tools to help traders with a proper definition of the market condition. Take the Fibonacci retracement and oscillators for example. If you can use them properly for your trades, no trade is uncontrollable for you.

Try to accept the losing trades
The improvement in the trading approach is not possible for a trader without losing trades. We have already mentioned that losing trades will let you know the mistakes. When you can find the defect with a particular trade setup, you can change it to an optimal condition. To give an example, say you are losing and it is impacting your account balance a lot. If you reduce the leverage to 1:10 and trade with it, there will be less impact of the losses on your capital. In the case of the market analysis, the traders can use multiple timeframe analysis to find out a proper position size. Besides the price correlation is good for trade with multiple currency pairs at once. if you can accept the losing trades, only then you can improve your plans properly.