Thread: 3 Forex Tips

1. If you are going to start real trading in Forex, invest the available funds only. Never use your last money for online trading that you cannot afford to loose. If you don’t have available budget, it is better not to start real trading now in order to avoid the psychological pressure from yourself and your family. You must feel free and emotionless while trading in Forex market.

2. Don’t expect always win and make profit while trading Forex. Even the most experienced traders have losses. The skill is to know to carry your losses and increase the number of profitable positions.

3. Don’t go against your own strategy. Experience shows that you should not change your decision every time when the quotes jump or make a rapid movement. Not following your trading strategy may lead to the unsuccessful trading. Once you have developed your trading strategy, follow it in any trading conditions.

How did I start? I opened a demo account and as I trained I also used to put some amount from my salary aside, so when I finally felt "Yes, I am a forex trader!" I used this 'fund' to deposit my real account. I think this is the most reasonable and least painful way to start trading. If you were not in need in that money while trading demo account (for probably a year or so, right?) you will definitely not feel dissapointed if you lose them on your real account! So go trade real account and let logic lead your actions instead of scaring thoughts 'What if I lose??!!'.

For all I care, a good trader must have a good character, admitting mistakes and avoid one-way trading. A year of experience is enough, I believe, to find the toolbox that works for us, the method of trading that has already proven itself in backtests. It's crucial to work hard in demo mode, testing the crap out the method.

Originally Posted by sedat

1. If you are going to start real trading in Forex, invest the available funds only. Never use your last money for online trading that you cannot afford to loose. If you don’t have available budget, it is better not to start real trading now in order to avoid the psychological pressure from yourself and your family. You must feel free and emotionless while trading in Forex market.

2. Don’t expect always win and make profit while trading Forex. Even the most experienced traders have losses. The skill is to know to carry your losses and increase the number of profitable positions.

3. Don’t go against your own strategy. Experience shows that you should not change your decision every time when the quotes jump or make a rapid movement. Not following your trading strategy may lead to the unsuccessful trading. Once you have developed your trading strategy, follow it in any trading conditions.

This three forex tips are very important of forex trading. If you think learn more about forex tips and you can get more earn

I'd have to agree with all (3) of those tips. I always stress your first tip to new traders; only trade what you can afford to loss.

There's a lot more that goes into being a profitable trader; too much to explain in this thread. But like I said, you're three tips are spot on!

1. Any attempt to trade without analysis and studying the market is equal to a game. Games are fun except when you lose real money.
2.Don't try to revenge after losing a trade. Don't be greedy by adding lots of positions when winning.Overreaction blocks clear thinking and as a result will cost you money.
3.The foreign exchange market is the largest international market in volume. In spite of being the biggest money market in the world its awareness and education has not grown as expected.