Investors and traders in Israel who have just entered the market are probably the most motivated and ambitious players. Naturally, many of them hope to earn fast on Forex. However, not all adequately assess their opportunities and risks.
The fact is that in this business, no one can ever promise you an easy profit, even with the most accurate forecasts. There is always a risk that accompanies all traders, whether they are experienced players with decent accounts or novices with minimal deposits.
Only with experience and practice will it become clear that profit will not be so easy without the theoretical background that a trader needs. It is possible to find simple algorithms, but this also requires a knowledge base, which, unfortunately, not everyone has.
Novice Israeli traders choose a DotBig broker as it offers clear and helpful tools suitable for beginners.
Forex Trading Strategies
Developing a successful Forex trading strategy takes time and effort. Thus, a trader should combine technical and fundamental analysis, be patient and disciplined, consider the trading conditions well, and analyze the charts correctly. Of course, it would be helpful if the market participant considered the charts correctly.
There are many Forex trading methods, and a user needs to find one that suits his trading style. It is also crucial to be able to adapt one’s strategy to the current market conditions.
There are no 100% perfect trading methods. Merchants will have to experiment before they find the right one. But as soon as a market participant discovers a profitable strategy, he must adhere to it and be disciplined enough to follow it strictly.
Trading Strategy Features for Beginners
A strategy for the foreign exchange market is a business tactic, a model for determining the moments of opening and closing transactions. It may not be the same for experienced and novice dealers.
When choosing an investment model, Israeli beginners should be guided by their personal preferences and capabilities. For example, a strategy replete with terms, indicators, and complex formulas will be challenging to understand. If a Forex trader does not understand the operation of an analytical tool, investing capital will be erroneous and it will lead to losses.
Things to Be Considered
Forex strategies for beginners should be simple and understandable. The best option is a scheme that will not require constant training from the trader and a long-term presence on the trading platform. At the initial stage, it is better to spend small periods investing so that every action is clear and deliberate.
For example, according to the DotBig reviews, the basic recommendations for setting stop losses, choosing to take profits, and currency assets greatly simplify the dealing process. On the exchange’s website, Israeli traders can find a detailed description of the algorithm of operation of these tools in order to better understand how charts work. With the help of these tools, DotBig Forex broker clients independently choose tactics for making profitable deals.
Besides, it is recommended to avoid tactics with high declared profitability. High returns always go hand in hand with maximum risks. A newbie is not ready to operate professionally with his capital, as the probability of losses is very high. It is impossible to earn millions from the first day of your stay in the global exchange market. It is better to increase the amount of finances by several percent, but steadily.
Today, many simple tactics have been developed for inexperienced traders in Israel. Each scheme includes elements of popular programs. After standard training, a beginner can independently determine trading instruments and create a system of rules.
In most cases, it is most effective to use a plan that has been worked out over the years. Professional brokers, such as the DotBig investments site, actively share their experience of building a successful business, post videos, and conduct forums, and webinars for their clients. These materials provide real statistics on the formation of a business, and describe the effectiveness of a particular strategy.
Three Trading Methods for Newbies
The simplest trading strategies are systems whose rules cannot be confused, and it takes no more than one day to master them. Many Israeli novice traders choose these methods to start trading Forex.
- The London Session
It is one of the simplest strategies in the Forex market. Trading time is a session on the London Stock Exchange, starting at 10 a.m. Moscow time; the trading time frame is 30 minutes. It is optimally suited for a currency pair containing the British pound. According to this strategy, the market is entered daily, but only once a day. The signal to open a deal is the first candle that closes; a pending buy order is placed at its maximum, and a sell order is placed at its minimum.
- Breakdown
This method can be used for any currency pair in any timeframe. The appearance of a wedge pattern on a chart usually indicates a trend change, so it is most often formed at the bottom or top of the chart. The “wedge” is represented by a series of Japanese candlesticks, the resistance and support lines of which are narrowing, and the narrowing of the figure coincides with the trend direction. An ascending “wedge” is formed at the maximum of the market, and a breakdown down indicates a change in the trend to a decrease, and the formation of a downward wedge with an upward break indicates a change in the trend to an increase.
- Three candles
This is a scalping strategy with a one-minute timeframe. According to this method, when closing the next candle, it is necessary to pay attention to the last three. The size of the body of the last candle should be larger than the size of the bodies of the previous two. The penultimate candle should be bearish, and the last one bullish, meaning its closing price should be higher.
Does DotBig Suit Beginners?
In the DotBig reviews, you can find many confirmations that this broker is more suitable for beginners. Therefore, this Forex exchange is a bright option for traders without experience.
Here are a few advantages that newcomers get from working with this platform:
- Risk-free learning: Novice traders can learn how to buy and sell CFDs, stocks, and other assets without risking real money.
- Improve your trading skills: Practice making trades, analyze market trends, and make informed decisions.
- Learning about trading platforms: familiarization with the trading terminals and tools of the DotBig exchange is necessary for successful deals.
DotBig stands out from other Forex platforms because it provides comprehensive opportunities for clients. It offers advanced trading tools, various educational resources, and high-quality customer support.
As the demand for Forex continues to grow, working with a broker like DotBig can become your brilliant strategic step for long-term success in the trading field.
Choose Trading With DotBig
Trading requires investing not only money but also time. However, time costs can be reduced without compromising profits if you entrust the choice of strategy to a personal broker. On the DotBig Forex platform, Israeli users can choose the trading style that suits them, use ready-made solutions, and constantly update their knowledge.