Do your homework, follow the footprints of smart money
Another FX Rookie here 12 replies
Rookie Starting Up 54 replies
Rookie Lessons Learned 5 replies
What is the best time to trade Forex for a rookie? 10 replies
Rookie in many areas. Help. 2 replies
DislikedSorry to post my questions here but i can't create a new thread yet what's the meaning of BE ?Ignored
Disliked{quote} BE means break even. It is when you move your stop loss (SL) in the direction of the trend or price movement to at least cover your risk (i.e. the number of pips or amount of money you risked as a stop loss). KPIgnored
DislikedI sometimes get messages from desperate new traders who say they just lost some huge sum of money on the market, and that they need help. Please avoid this mistake: DO NOT TRADE LARGE SUMS OF YOUR OWN MONEY. If you losing $5,000 would hurt, then you need to deposit only $500. Likewise, if losing $500 would hurt you, then you need to deposit only $50.00! The goal in trading is to get to a point where you are trading the money you have won on the market. The quicker you can get to this point, the better your trading decisions will be. Only deposit,...Ignored
Dislikedto trade well you must be emotionally comfortable.and trading with money that you cannot loose will make you see charts with allot of fear and you willnot be able to concentrate.try this simple test. trade with money set aside for rent for instance and you will see the level of concentration is out of the window and you will start seeing trades where none exists.and this starts of a chain of reaction that goes into over trading,revenge trading and over leveraging and then account blown.Ignored
DislikedYeah, forex trading is high risky, risk control should be top important for new ones, if without stoploss or higher leverage, that will be dangerous for trading.Ignored
DislikedYou have to make all the decisions carefully if you want to survive in this risky market.Ignored
DislikedI agree. There are no shortcuts and no Holy Grails, just hard work.Ignored