Forex - 10 Tips

[Guest ICM Capital]

 

1. Do not overtrade

• Trade within your means
• Use 1/3 of your total margin only

2. Always use protective stops to limit losses

• Go in with a plan
• Don't trade impulsively
• Have predetermined risk as well as profit
• Don't move stops higher or lower and say "It'll come back."

3. Diversify your portfolio

• Try to avoid "Loading up" in any one commodity or product

4. Keep emotions in tact

• Don't make trading decisions based on "Fear and Greed", as hard as this may be
• Make decisions away from the market - "Don't be a screen watcher"
• Don't let ego get in the way

5. Trade in the direction of the immediate trend

• Don't try to pick bottoms or tops

6. Don't add to losing positions - get out!

• Don't Average "Down" or "Up"

7. Keep it simple, more complicated is not always better

• Trade within your understanding of the markets

8. Employ approximately a 3:1 reward to risk ratio

• Don't ever risk $2 to make $1

9. Always be a student and keep learning

10. Above all, be disciplined

[Joseph M. Kindred]

Forex is an online investment market. Traders from different country are trade currency and make profit. Forex is a high risky investment sector. Knowledge e and trading are essential to survive long in this market. Many traders failed and left the market. At first trader should use demo account to understand the risk and improve their trading skill. Now I am trading with CapitalsTrade. It is a regulated broker in Vanuatu.

[uncle gober]

that's why traders will really need the ability to analyze the good and true in order to get more leverage in improving existing trading skills to be better and more leverage than before to be better again.

[Pixie Pips]

I will say emotions are the most important thing that one should keep in mind when trading. If you are facing any emotional condition then you must avoid trading.

[Fx Mental]

The newcomers first of all have to focus on learning process before earning. Baby pips school can be a great source to learn Forex as a newcomer which always ensures exclusive educational materials with essential terms and conditions. and don’t move a live account without practicing demo account at all.