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7 Most Important Don’ts in FOREX Trading

Discussion in 'Forex Discussions' started by forexbandade, Oct 24, 2008.

  1. forexbandade

    forexbandade New Member

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    1. Don’t trade without stop loss point.
    2. Don’t force yourself too hard to achieve a certain target. Nobody knows which way the price is going.
    3. Don’t look down on money management. Always use 3% of money management at most.
    4. Don’t judge your strategy too fast. Try one strategy at a time and strict to that rule for at least 6 months. If you are really strict to the rule and the number of win is less than the number of loss, don’t use that strategy anymore.
    5. Don’t trade on news. It’s really unpredictable.
    6. Don’t trade when you are not in a good condition. We bet you won’t trade well. Trade only when you are happy and fresh.
    7. Don’t give up and don’t feel down if you haven’t got a lot of profit or even still losing in FOREX market. Nobody cares about your losses.

    http://www.forexbandade.com

    TOTAL SOLUTION FOR FOREX SICKNESS
     
    #1 forexbandade, Oct 24, 2008
    Last edited: Oct 24, 2008
  2. masterbroker

    masterbroker New Member

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    Thanks for the above information I like to invest money in forex trade and I always look for the good information which will help me in investment. Thanks a lot.
     
    #2 masterbroker, Jan 22, 2009
    Last edited by a moderator: Jan 22, 2009
  3. daniellefr

    daniellefr New Member

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    Great advices for new beginners in forex trading. Sometimes it is important to outline what not do to in order to succeed.
     
  4. Mirkinbar

    Mirkinbar New Member

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    Do not invest more than you can afford to lose.
     
  5. daniellefr

    daniellefr New Member

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    These are all very useful tips. I would also add:

    - don't ignore demo practice account - they are not useless.
    - don't forget to keep a journal of your trades (you can analyse not only your trading plan, but also your reactions - this way it is possible to learn how to control the emotions better)
     
  6. Sayen Aylen

    Sayen Aylen New Member

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    Hey,

    Good Information thanks for these 7 don'ts in Forex
     
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