valuable FX Tips
1. Put in place Stop Loss:
Before making any trade whatsoever, decide beforehand
how much you're willing to lose and you just conformed to this
amount.Set a stop loss level before entering a trade and position
it as soon as possible.Never change your stop loss if your position
is a loser.
2. Let your profits run:
Never let your emotions govern a trade. Keep in
mind why you came on the market and conform naturally to these
reasons. Unless you're emotional, you will be better. Do not turn
away from your trading plan, move your stop loss as the market
moves in your favor and let your profits run.
3. Do not be fooled:
You must have your own trading strategy and planned
to comply with them. If you are influenced by others, you change
your mind so incessant, learn to ignore outside sources once you
have made your choice.You will always find someone who can give
you a logical explanation for taking a position opposite to yours.
4. Maintain acceptable sizes and positions within your
Traders have a real success know that trading is
a game of probabilities, and long term, if you stay glued to your
strategies and you put in place sound strategies to which you
comply, it is likely that you will succeed in success. To be a
successful trader, you will never take a position that could jeopardize
a substantial capital. In fact, you rarely find a trader who may
win more than 10% of its capital in a trade, and 10% is already
5. Know your risk ratio versus your earnings ratio:
The benefit / risk ratio minimum you should use
is 2:1. For example, if you are long GBP / USD
and you want to gain 50 ps, you should not risk more than 25 ps.
6. Have a suitable capital:
You should never trading with money that you can
not afford to lose. Always make sure you have enough credit, for
example you can ask yourself the following question: "If
I lose 50% of my starting capital within six months, can I always
allow me to trade? Only if the answer is yes you can start trading.
One key to success is independence of mind in trading, which means
your trading freedom must not be influenced by your fear "crippling"
7. In Trend or Neutral:
Learn to analyze the market, is this a market trend or rather
neutral? In a market trend, follow the trend in a neutral market,
buy low and sell high, when you use stop loss, and you control
8. Do not fight against the trend:
Do not try to sell high in a bull market or to buy the bottom
in a bear market. Follow the good old adage "the trend is
9. Study for Learn:
Learn new ideas, keep up to date, and do not're trading
on the ideas of others, you should always know why you're in a
10. Know why you are in a trade:
Keep a journal of your trades and record exactly why
you went into each trade. Do not be impulsive, follow your strategy,
that way you will learn what strategies work for you long term
and which do not work.