If you are new to trading using the Foreign Exchange Market, then you should consider the tips and advice offered on websites and in forums. By doing a simple Internet search you can find helpful articles, tips, forums and testimonials from people who were once in the position that you are now, and starting out with using the Forex market. One crucial step that you should take to protect your investment from failing badly is to use a stop loss. A stop loss is basically the point that you decide is the maximum value by which the value of an investment can fall, before you decide to sell to avoid making any further loss on it. If you make an investment of $1, you may decide that a reasonable amount that it can fall is 5% before you should sell to avoid losing all of your investment. Whilst this is not ideal, it is the best way to prevent major losses, especially if you are a day trader. You shouldn�t increase your stop loss once you have set it. Hoping that the market will in fact recover and all will be well is a common pitfall, and loses investors a lot of money. It is better to get out whilst you can and re-invest into a better transaction. Remember that if the market is in fact doing badly in general, and you have noticed that there has been a particularly bad week, it is fine to not trade. It is better that you sit on your investment, rather than invest into a crippling market and end up losing out. Standing aside is a valid position when it comes to the Forex, and if this is what you need to do for a few days until the market recovers, then don�t be afraid to do this. There is always a risk of losing money even in a healthy Forex market, but if it is doing badly, you will be best to get out and wait until things improve. The key to success with Forex is to try to keep things simple. If you have 30 different transactions all in place at once, and some taking 1 hour, some 2 hours, some 3 hours, and some 4 hours, this will just make things needlessly complicated for you. You will lose track of your plan, and you will lose out on profits. Instead, it is better to have 3 or 4 investments running at the most at one time. Try to choose trades that start and end at the same times as each other, this way, you will not get confused by your trades and will be able to manage your account better.