Forex is the best way to make profit it's alot easier
and less risky than the stock market or any other profitable project you can
think of.
Here are some Forex tips and secrets you may find
useful:
1.
In Forex
there are no place for gamblers, gamblers go to casinos, Any
attempt to trade without analysis and studying the market is pure gambling and gambling is not fun when you lose.
2.
Never put money into a
real Forex account until you practice for enough time on a Forex Demo account
first you don't want to rush into anything before you have
enough knowledge and experience to know exactly what you're doing .
3.
Never risk more than 10%
of the total trading account, you always have to be able to survive
market drops and this is the difference between a successful and an unsuccessful trader
4.
Put your emotions away and
Don't ever try to revenge after losing a trade. And Don't be greedy by adding
lots of positions when winning. Emotions clouds clear thinking and
as a result you will lose your money
5.
When in doubt don't take
risks. If it is not clear where the market will go don't trade and step a side.
In this case saving your present capital is a better choice than taking
additional risks and losing money.
6.
Let your profits run and
don't rush into anything, Let your position be open for as long as the market
wishes to reward you. Of course this doesn't mean you wait forever, otherwise
they risk to give all the profits back
7.
Cut your losses short, It's
better to finish unprofitable trade quickly than wait for the situation to get
better because it might get worse and become a snowball of lost money that only
gets bigger and bigger.
8.
Choose the right day to
trade, choosing the time to trade can make a difference between successful and
hopeless trading, It's highly recommended not to trade on Mondays, when the
market has recently awaken and is making first his first steps to form a new or
confirm a current trend; or on Fridays afternoon, during the huge volume of
closing trades. The best days to trade are Tuesdays, Wednesdays and Thursdays.
9.
Go with the trend, Trade
with the trend to maximize your chances to succeed. Trading against the trend isn't
wrong but will definitely require more attention, nerves and sharp skills to make it profitable trade.
10.
Learn to measure trading
success by the end of the week and month and then year,
Don't judge about your trading success on a single trade. Successful traders don't need to win every trade, they also don't
become rich in one trade, but they will be in the long run.
