Forex - 10 Tips

[itmtrading]

Great post your Forex tips are very useful for all Forex traders.
thanks

 

[Jack Francisco]

Hi Bigrabbitz,

Theories are always theories, you should follow those tips by a smart-way. Don't do it without deeply understanding.

Hope you get well with Forex. Good luck!

Good say- The theories always look better-You must tried to adopt all these in practical and in a smart way in order to be a successful trader.

 

[BudsOnYou]

Trading is all about getting advice and experience; as a result these guide lines are pretty essential for the new comers and who looking forward to step on to this field.

 

[stephenn]

I am going to share best forex tips, i hope you will get benefits from it.
1. Using indicators and esoteric tools
2. Failing to understand position sizing
3. Lacking a trading plan
4.Forgetting to be patient
5. Forgetting to take profits
6.Trying to do too much...

 

[Infin Markets]

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 and 7!!! Good ones!!!!