Basic Rules For Successful Trading (Part 1)
- This is a process of learning, so no Holy Grail
- Practice,practice and practice.
- Don't trade until you are sure of hat you are going to do 90%winning ratio signal.
- signal.
- Follow a system or strategy
- Don't be greedy
- Don't be overwhelmed
- Include risk management into your trading strategies
- Always accept losses. so set an exact limit of loss you can bear or accept .
- Don't accept invest into real account until you practice
- Before applying strategy into real account ,test it or demo first to see the result
- Don’t follow others blindly
- Practice is a way to success in fx market,
- Trend is your friend so go with the main trend
- Always follow the large time frames ‘trend
- Put emotions aside.
- Choose the right time frame according to your strategy or system.
- Choose the right session for trading suitable to you.
- Better to choose the currency pair with less spread and margin.
- Get educated first ; education is your trading advantage .
- Cut your losses once you realizes the situation will not get better.
- Avoid Forex strategies that you don’t understand
- Keep it simple stupid ;don’t use too many indicators or your chart.always try to keep your trading simple and easy with a few necessary trading indicators
- chart.always try to keep your trading simple and easy with a few necessary trading indicators
- Remove fears before trading.
- Create a trading plan and stick to it
- Don’t buy any Forex software without researching its performance.
- Learn to use stop loss.
- Don’t give up.
- Take break
- Allow your self to make mistakes and losses
- Don’t force a trade.
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