1. Learn the basics of Forex Trading. It’s amazing that many people do not know exactly what they are doing. You must learn about competing at the highest levels in trading business and to become one of the least successful participants. This means that there is no degree from a respected university – the market was not educated.
2. Forex Trading is zero game game. It’s too short for a long time. If there are 80% of the traders in the long run, then the remaining 20% are on the short side. This means shorts should be made capital well and considered a strong hand. 80%, which have a smaller position than any effect, are considered weak hands, which will be forced to waste their length at any sudden turn at prices.
3. There is no bigger than the market.
4. The challenge is not the market, but the market is not to read. Wave is more rewarding than it is.
5. Trade with trends instead of taking top and bottles.
6. Trying to select top and bottles is another common FX trading error. If you are going to trade at the top and bottles, wait at least, as long as the price action actually confirms that you have become up or down before taking the position in the market. Trying pinpoint top and bottles in the foreign exchange market is very dangerous, but using a little bit of patience and waiting for the top or bottom to be expected, you are bound to be profitable. Can increase and reduce your risk somewhat.
7. There are at least three types of markets: Top Trend, Limit Limit, and Bottom. For each has different trading strategies.
8. Putting aside is a situation.
9. In passage, buy dips; sell bonus, in lesser.
10. In the bull market, Bear Market never sell open markets, never buy cheap markets.
11. Market and bottom market patterns are below, only one more prevails. In a market, for instance, after selling a batch signal, it is very easy to carry the signal, only time and again to be closed. Choose trade with trend.
12. A signal that fails the signal is a sales signal. A sales signal that fails a purchase signal.
13. Run profit, reduce damages.
14. Run your profits, but greed does not come. Once you have already benefited a business, consider taking some or all money from the table and transferring to the next trade. Naturally it is expected that a trade will end up as your “winning lottery ticket” and make you rich, but it is not just realistic. Do not keep the position for a long time and give all your deserving profits back to the market.
Use protective barriers to limit damages.
16. Use a reasonable stopholder order every time to reduce your damages and sometimes do not allow them to sit and run their losses. Almost every trader hopes almost every trader that results in the market will result in its resulting error, but not often, it’s just a big loss. You won something, you lose something. Just learn to reduce your losses, take your occasional lengths and move to the next business. And if you make a mistake, learn from it and do not repeat it again. To prevent the loss of your losses, prior to entering the market, determining the acceptable profit target for each foreign currency, as well as acceptable risk tolerance levels for each foreign exchange business. Get to get it After that, at a reasonable price, ordering a stop stop loss – but not tight (close to the market), stop can take you out of the position before the stop is likely to move to you. The use of a stop is always a smart move.
17. Avoiding protecting the barriers on clear round numbers. Protective barriers should be kept in the long positions under long numbers (10, 20, 25, 50, 75, 100) and on such numbers, at short positions.
18. Prevention prevention is an art. The trader must collect technical factors on the price chart with ideas of money management.
19. Analyze your losses. Know your losses. They are expensive lessons you paid for them. Do not learn more traders than their mistakes because they do not like to think about them.
20. Be a trouble, your first loss is the smallest loss to you.