Posted in Forex Trading Tips on 26. Mar, 2010
1. Evaluate your risk and reward properly before entering each trade. You need to understand how much it will cost you if it’s a losing trade, and how much you are able to ride it if it’s a winning trade. 2. Don’t trade when you are not sure. When you aren’t sure, that means there [...]
Posted in Forex Trading Tips on 26. Mar, 2010
1. Have confidence. You can only gain confidence when you actually perform successful trades. It does not come from motivation books or anything. When you achieve success, you will naturally have more confidence in trading. If you don’t, practice it in forex simulators and once you get consistent winning trades, you will be more confident. [...]
Posted in Forex Trading Tips on 26. Mar, 2010
1. The market only moves in 1 way. When it shows that it is moving upwards, then it is in fact upwards. No amount of analyzing will make it go downwards. You have to accept the fact and condition and capitalize on it. 2. Trade when exciting news is released. When news happens, the market [...]
Posted in Forex Trading Tips on 26. Mar, 2010
1. You have to focus on trading currency pairs. Not just a single side of them. There are 2 ways in forex trading, you have to understand how both of them affect each other. 2. Having knowledge gives you an advantage in forex trading. You have to understand the basics of market psychology and keep [...]
