First time a new trader can not make good profit in the forex market for lack of proper knowledge and experience. But if you follow my rules of trading then you can make 10-20% profit of your initial investment every month.
Best currency pairs:
Selecting of currency pairs is very important for start trading. Major currency pairs are low risky for forex trader so you can select major currency pairs for your trade. Major pairs are
EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD.
Perfect lot size:
Lot size selection is very important for forex trading. Always invest 1 or 2% of your initial investment. For example: If you have $100 balance in your trading account then you can invest 1 or 2 dollars only or 0.01/0.02 standard lot.
Trade only when chance:
The big mistake of beginners are trading perfect time selection. Forex market is open for 24 hours a day as a result they can not select a perfect time frame of trading. Always open trade when a chance is ready for you. Don't be open a single trade without chance because a mistake can lead to increase your loss. If you are a beginner then you must stop your trading at special economic news moments.
Control your greed:
Most of the forex trader loss their own
money for greed. Controlling of greed is very important factor for
better trading performance. If you have low balance in your trading
account and you open high volume lot size for catching high profit the
there are 99% risk for losing your initial investment. So don't be
greedy.
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