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#1 19-10-2012 11:07:53

From: London, Dubai
Registered: 19-10-2012
Posts: 1

Forex - 10 Tips

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



#2 21-10-2012 21:52:57

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2944

Re: Forex - 10 Tips

"Anything worth having is worth going for - all the way." - J.R. Ewing



#3 28-10-2020 11:02:54

Scarlett rose
Registered: 12-04-2020
Posts: 24

Re: Forex - 10 Tips

Mostly all tips are elaborated in detail, I would say to become successful as a trader your emotional and mental health should be stable enough to take right decision.



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