Forex Trading Tips for Success by dewinursaniumalin

VIEWS: 2 PAGES: 3

									Forex Trading Tips for Success

Here are tips on successful traders and professionals who also had undergone Trader (trading for Living).

A. Create a trading plan and description as well. Criteria, you need to know when:



 Open positions

 How many points Stop Loss & Take Profit is 'ideal'

  Have a financial management strategy (money management). This is related to how long you are
trading in a month, your account how the level of resistance against the risk of loss, when the attraction
of funds, when to raise funds, and allocation of income to savings, investment and consumption.



2. Make the trend as your best friend (Trend Follower). Do not fight the market trend (though not
including mandatory rules). If prices are rising, you can put a Buy and vice versa if the price is down then
you can install Sell position. Most people often take the opposite (counter trend) and often wrong -
though there's also often true :).



3. Keep well & carefully your capital. Do not allow your capital to $ 0.0. If that loss, try to keep 10-50% of
your capital, so that when the time comes to add funds or injeck, or the dollar amount paid up is not too
large. Imagine if you had to add a large fund for the loss caused by your Forex trading.



If in two or three trades already spend 20-40% of the capital due to loss, stop for a moment. Hold
yourself to open up a new position. Do not obey yourself to "get even" or "want return on investment".
Try to calm your mind and your head. Arrange your trading system back in the Demo Account. Set aside
3 days - 1 week to try trading system in the Demo Account.



If it is established, please go back to Real Account.



4. Knowing when to dispose of "toxic". The term toxin is a Buy or Sell which has been opened which has
been floating (floating position / not closed) a negative or minus a sizable position. Say if Buy GBP / USD
you have -150 points in a span of 2 hours, is it still worth keeping. Or if the position of AUD / USD is
minus -100 within 20 minutes, if still loved, dear??!
Ah, the price right back again later. Well, if the price ndak back and forth, we become "poisoned" his
own, both mind and body. We can be physically ill to think of a position that has not closed that reached
200 points for example. Just remember, for the money now rather difficult to yah. If so ndak productive
within 2-3 hours, well amputated / Cut Loss. Cut, remove the already bloated and unproductive. What
else would make the position of stay, more than one day with more expected profit well and also get a
premium interest rate, put obligatory Stop Loss. Our advice, if you want to continue the next day, put
the Stop Loss 200 points from the point of your open positions. Use a Trailing Stop if the facilities are
provided by the trading platform.



Stop Loss Plan as early as possible. These days, the price movement for the Euro and Pound reach 200-
400 points per day. Determine ideal Initial Capital & Stop Loss you with a situation like that.



5. Do not be emotional. If you've reached your daily or monthly targets, get out of the market. Do not be
greedy.



Avoid the fear. Now it is linked to the tips no.6, be informed. If you already know the extent to which
prices can move with fundamental and technical indicators, do not look for disease. Do not hesitate to
put a Stop Loss or Trailing Stop to limit losses.



6. Be smart and informed. Not intended to support one private TV, but be a smart trader. Here is a basic
smart why should Buy and Sell why. That is, you should research the market as Fundamental and
Technical. Open daily news or Forexfactory.com Belajarforex.com. Adjust date & time to time in which
you reside.



7. Immediately write your trading on a trading journal. Make a note of Profit / Loss Your daily. Note also
the causes, why and why profit and loss. My Trading Diary .....



8. When prices move sideways or a little, do not enter the market. The point is if your own conscience in
doubt, what about your forex trading. Your Forex Account deifying it as the car that takes you on a profit
/ gain.

* Not applicable for those who are specializing in the market sideways!
9. Do not be too much or excessive trading. In one day, you're a scalper for a maximum of 10 times the
position. For those of you who Daytrader maximum of 2 positions and even fewer Swing Trader.
Remember, conditions & technical analysis of Forex fundamental change often over time.



10. Never Give Up. Do not give up .. Do not ever give up. Loss of Demo $ 5000 in 1 month, try again with
a $ 1000. Loss, came back with $ 3000, and so on. Discover the trading system that works for you. Only
one goal: Profit & Consistent

								
To top