Sunday, October 4, 2009

Forex Trading Tips

Here are some tips and advice for Forex trading.

  • You should never play with your money on a real Forex account until you practice with a demo account for at least a month and have constant winnings
  • Forex is not gambling. Without proper analysis of the market you will soon end up losing money
  • Never risk more than 2-3% of the account this will help you pass any down trend for a long time
  • Watch the wave and go with it not against it. In other words observe the trend and go with the flow as this increases your chances of winning
  • Be comfortable with the time frame that you picked, take your time to analyze the market, do trades, check statistics. Don’t become stressed by the fact that you have to do all the stuff in 10 minutes
  • Always trade with patience and be calm. Never let your emotions take you over. Don’t get greedy or impatient as these greatly increase risks, and this is the biggest enemy
  • Use protective stops. Never lie to yourself that it will get better. If you lose, accept it and move forward, respect protective stops
  • Always be aware of the risk/reward aspect. Analyze if it is worth to make the trade or if it’s to risky
  • Try to develop your strategy, this will help you keep things simple and allow you quicker and undoubtful decisions

Hope these tips will make your Forex trading experience easier and more joyful. With patience and discipline you can become very successful in Forex trading.

3 comments:

  1. good job friend thanks for info about forex. keep succes for u

    ReplyDelete
  2. hi friends.... nice tips for forex.... thanks for the tips.........

    ReplyDelete
  3. eToro is the #1 forex trading platform for newbie and advanced traders.

    ReplyDelete