Forex Trading Tips



1. Do not overtrade

  • Trade within your means
  • Use 1/3 of your total margin only


2. Always use protective stops to limit losses

  • Don't trade impulsively
  • Have predetermined risk as well as profit
  • Go in with a plan
  • Don't move stops higher or lower and say "It'll come back."


3. Diversify your portfolio

  • Try to avoid "Loading up" in any one commodity or product

4. Keep emotions in tact

  • Don't make trading decisions based on "Fear and Greed", as hard as this may be
  • Make decisions away from the market - "Don't be a screen watcher"
  • Don't let ego get in the way


5. Trade in the direction of the immediate trend

  • Don't try to pick bottoms or tops


6. Don't add to losing positions - get out!

  • Don't Average "Down" or "Up"


7. Keep it simple, more complicated is not always better

  • Trade within your understanding of the markets


8. Employ approximately a 3 t1 reward to risk ratio

  • Don't ever risk $2 to make $1


9. Don’t go against the markets, unless you have enough patience and financial resilience to stick to a long term plan.

  • Beginner is never advised to trade against trends
  • Join the trends so that your mind can relax


10. Understand that forex is about probabilities.

  • Forex is all about risk analysis and probability
  • No single method or style that will generate profits all the time


11. Be humble and patient. Do not fight the markets.

  • Recognize your failures, and try to accommodate them
  • Attitude will surely be ruinous on your career eventually


12. Share your experiences. Follow your own judgment.

  • Discuss your opinion on the markets with others
  • Consider the opinions of others, but make your own choices


13. Study money management.

  • Cut your losses short, and let profits ride
  • Should keep the bible of money management as the centerpiece of your trading library


14. Always be a student and keep learning


15. Above all, be disciplined


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