Monday, April 13, 2009

Tactics of forex trading

1. Overtrading can shake your money management and dramatically increase trading risks.
2. Put emotions down. Trade calm.
3. Go with the trend! Trade with the trend to maximize your chances to succeed
4. Always take a look at the time frame bigger than the one you've chosen to trade in.
5. Learn about overlapping market hours
6. Gamblers go to casino. All unproved, spontaneous actions in Forex trading — are a part of pure gambling.
7. Choose the time frame that is right for you.
8. Allow at least 2 month for demo trading.
9. Never risk more than 2-3% of the total trading account.
10. By moving a stop loss further a trader increases his chances to end up with much bigger loss.
11. create a simple but working method of trading Forex.
12. Never invest money into a real Forex account until you practice on a Forex Demo account!

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