Top 10 Golden Rules Of Forex Trading|Best Secret Rules for success Forex Trading Market
Plan your trades first, and then trade what your plan is telling you
Next, you need to focus on your business plan first, and then trade your plan. As a trader your job is to follow a rigorous trading plan. Do you know who’s going?Write a business plan? You are! After writing this project, your job is just a breeze Because you have to follow the business plan you have developed yourself. You need to follow the principles of your trading plan that must be set up,Enroll, and exit. If you are doing something else, then you are simply creating your own complexity The job needs more than a job.
Don’t trade more than you can afford
It’s never surprising how many entrepreneurs want to spend more of their life savings Risk investment. On any given day, any business can go from good to bad Don’t trade too much if you can lose minutes! While systems, trends, and services All of these are designed to help you improve your profits and keep you from losing, as it sometimes is.You must have a bad day.I recommend trading in these terms, if the overall bankroll for your trading is $ 50,000 Anytime on any trade 2-3. Don’t invest too much. That would amount to a maximum of 500 to 1,500 Stick to your rules about each trade money management and your system You will do well in this business. Just think, do you spend all your money? What would be a trend one day if the trend suddenly went down and you lost? 50% of your total money on this trade? How do you feel after that? Only Will it take months to get your money back, you will lose a lot of trust In your ability to trade.
Don’t think of this in terms of cash, think of this in terms of pips
My first advice to my students is to make money once you have your trading Account, forget it is also cash. When you think of a trade, it is difficult to implement Turning to dollar bills. It’s better to try and just win the pips. Have you ever thought that casinos use all that chips? That’s why
Psychologically, a gambler is more likely to gamble, and if less anxious They’re just throwing chips. Well, it’s not enough gambling, but the same The concept should be used with Forex.
You are the boss
Remember, you own every trade you put into practice, you are the one Responsible for failure or success. You won’t have anyone who asks you to join it Trade or study this chart. You have to develop your own entrepreneurial spirit If you’ve never been a “boss” before, you’ll learn how much You are in charge. You cannot find yourself in too much stress Outside the market or market makers. Negative emotions will get you into a lot of trouble And will appear on your business. Follow your systems and not your emotions.
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