If you ar
e new to Forex trading you understand need to understand that 95% of trades lose. If you want to win you can but you need to follow these important trading tips. Here are your ten tips and there in no particular order of importance, there all important! 1. Don't Use a cheap Forex Robot or Expert Advisor If you think you are going to get rich by paying out two hundred dollars or less for a cheap software package think again you won't, all these systems lose money. 2. Accept Responsibility Leading on from the above point, it should be pretty obvious that you need to accept responsibility for your actions, learn skills and get a decent Forex education. 3. Work Smart Not Hard You don't need to work hard just get the right Forex information and that should only take you a couple of weeks at most and your all set. 4. Keep Your Strategy Simple trading strategies work best as they are more robust than complex ones, with fewer elements to break, so keep your system simple. 5. Use Technical analysis This is simply the most time efficient way to trade and all you need to do is learn the right chart formations, to spot profitable chart set ups and that's a learned skill. 6. Be PatientDon't trade to often, once or twice a month is enough to make big gains and is the best way to trade profits. 7. Use tight Money Management You are going to get losses, so make sure you keep them small and always place a stop before you start to trade. !8. Use Sensible Leverage You can get 200: 1 leverage with any Forex broker online but this is far too much and you will eventually destroy your account. 10- 20:1 is plenty for most traders. 9. Learn Discipline You will here this word a lot and it's the key to Forex trading success. You must follow your system with discipline and keep your losses small. 10. Be RealisticDon't be afraid to make mistakes or take losses, all traders do and you will too. Forget perfection and focus on making money; if you can make 50 - 100% in your first year of trading you are up there with the best and can be very proud of yourself. These are 10 very simple tips for forex traders and if you follow them you could be on the road to Forex trading success .
e new to Forex trading you understand need to understand that 95% of trades lose. If you want to win you can but you need to follow these important trading tips. Here are your ten tips and there in no particular order of importance, there all important! 1. Don't Use a cheap Forex Robot or Expert Advisor If you think you are going to get rich by paying out two hundred dollars or less for a cheap software package think again you won't, all these systems lose money. 2. Accept Responsibility Leading on from the above point, it should be pretty obvious that you need to accept responsibility for your actions, learn skills and get a decent Forex education. 3. Work Smart Not Hard You don't need to work hard just get the right Forex information and that should only take you a couple of weeks at most and your all set. 4. Keep Your Strategy Simple trading strategies work best as they are more robust than complex ones, with fewer elements to break, so keep your system simple. 5. Use Technical analysis This is simply the most time efficient way to trade and all you need to do is learn the right chart formations, to spot profitable chart set ups and that's a learned skill. 6. Be PatientDon't trade to often, once or twice a month is enough to make big gains and is the best way to trade profits. 7. Use tight Money Management You are going to get losses, so make sure you keep them small and always place a stop before you start to trade. !8. Use Sensible Leverage You can get 200: 1 leverage with any Forex broker online but this is far too much and you will eventually destroy your account. 10- 20:1 is plenty for most traders. 9. Learn Discipline You will here this word a lot and it's the key to Forex trading success. You must follow your system with discipline and keep your losses small. 10. Be RealisticDon't be afraid to make mistakes or take losses, all traders do and you will too. Forget perfection and focus on making money; if you can make 50 - 100% in your first year of trading you are up there with the best and can be very proud of yourself. These are 10 very simple tips for forex traders and if you follow them you could be on the road to Forex trading success .
No comments:
Post a Comment