1. START GRADUALLY
Don't open many position at the same time. It's better to choose fewer positions, but weigh each of them carefully.
2. STOP -LOSS ORDER
People often forget to limit their loss and therefore have to step out of the game very soon. With the step out of the game very soon. With the Stop - Loss order you will be able to control the situation, if the rates change unexpectedly.
3. RULE OF 1/6
specialist advice against risking more than 1/6 of your free capital when aren't completely confident
4. STICK TO THE PLAN
Traders have their own plan, and the best make an effort to hold onto it. Some prefer daily transactions, whereas others like long-term strategies. You should keep it steady! Write your plan on a paper and follow it systematically. Write down the prices of each transaction and why you selected the particular strategy in order to analyze it later.
5. MULTIPLE TIME FRAMES
Differentiate the time frames of analysis: weekly charts are use to observe trends; hourly and minute charts are used to determine the perfect timing to open and closed positions.
6. DON'T STOP THE PROFIT
A common mistake beginners make is closing the transaction too soon, thus not taking advantage of the full profit potential. Trends last longer than they might seem at first!
7. DON'T PLAY AGAINST THE TREND
Transactions against a trend usually result in loss.Wait for an event trend and then make your move!
8. IF IN DOUBT, FOLLOW THE GURU
If you're still aren't confident about your decision, choose a platform thatlet's you follow gurus and copy their transactions.
9. TRENDS HAVE MOMENTUM
Beginner's often don't know when a trend starts and don't use trends in their favor. Trends have momentum strategy requires a solid exit to protect profits.
10. CLOSE THE UNSUCCESSFUL
Don't hold unsuccessful positions open for a long time. Experience shows that it's best to close them early and move on to others.
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