18 November 2009

Use common sense!

1. Find a forex broker with good reputation:

The ability to trade largely depends on persistent spreads and high liquidity.

Anyone can open an online position.

The ability to close a position in an attractive market price is much more important.

2. Do not go by emotions, taking part in the auction. Stick to your plan and maintain discipline:

Make a trading plan before the start of trading.

Set reasonable limits of risk.

Do not exceed your feet because of the emotions.

Do not react spontaneously to changes in prices, ie, do not buy just because it looks cheap or sell because you think the price is very high. Make sure that your actions are well justified.

Do not engage in trade for the sake of trade.

3. Staying in the trend and trading against him:

If you follow the trend, will not be superfluous to use trailing stops.

If you went against the trend, keep in mind about the discipline they do not stay in anticipation of the last pip.

4. Be aware of the daily news:

Treat trading before the release of news for a specific currency with great caution and be aware of the instability, which follows after the news release.



No comments:

Post a Comment