7 Most Important Don’ts in FOREX Tradin
Hi there, I'm new to the Forex world, thanks for those tips, right now I'm able to understand most of them not all, but I'm sure I will appreciate the rest of them in the near future.
Don’t trade without stop loss point. Don’t force yourself too hard to achieve a certain target. Nobody knows which way the price is going. Don’t look down on money management. Always use 3% of money management at most. Don’t judge your strategy too fast. Try one strategy at a time and strict to that rule for at least 6 months. If you are really strict to the rule and the number of win is less than the number of loss, don’t use that strategy anymore. Don’t trade on news. It’s really unpredictable. Don’t trade when you are not in a good condition. We bet you won’t trade well. Trade only when you are happy and fresh. Don’t give up and don’t feel down if you haven’t got a lot of profit or even still losing in FOREX market. Nobody cares about your losses.you are absolutewww.FOREXbandade.com Total Solution for FOREX Sickness
Wow these are really true, you need another one, don’t get upset , when I was beginner I got upset for everything, even if I lost a pip, now I know that part of the process, we have to try everything.
I would like to add some other important "dont's"
1. Dont double your position when you close with a loss
2. Don't trade with technical analysis alone, Fundamentals are more important
3. Don't trade on a 1 mn or 5 mn chart
4. Don't keep a position open over a weekend unless investing in long term.
Im now too sure with your point of “don’t trade with a SL” well, there is a big discussion in other forum about this, some people said that SL is very important but other people said that SL is not too useful as people said, even for beginners could be, but for experts are not at all. So I don’t know, for me it´s important, because I trade even with an
Im now too sure with your point of “don’t trade with a SL” well, there is a big discussion in other forum about this, some people said that SL is very important but other people said that SL is not too useful as people said, even for beginners could be, but for experts are not at all. So I don’t know, for me it´s important, because I trade even with an
Well consider a currently typical scenario. You have EURUSD position just before an announcement without a stop - market after a news moves 200 pips in 10 minutes against you, you try to close your position during this move but by the time you have pushed your button you lost 60 pips.
This is not a worse case scenario, we saw much bigger move during the 2 last months, the advantage of a stop loss is not only that you can "fire and forget", it also has a trigger speed and efficiency much higher than simply pushing a button - hence will usually capture a much better execution price than if you close your position manually.
Now placing stop 5 pips below the price is not what im talking about - this should be discussed thoroughly indeed.
Im Very Newbies In Here Perhaps The Old Timer Can Help
I guess that not trading with a stop is not necessarily a don't, I've come to meet some good traders not using sl and they do a pretty good job.
i have only one don't but i always failed.... DON"T lose money 
i have only one don't but i always failed.... DON"T lose money
Yeah... don't loose money! it's most main thing ))
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Don’t trade without stop loss point
Don’t force yourself too hard to achieve a certain target. Nobody knows which way the price is going
Don’t look down on money management. Always use 3% of money management at most
Don’t judge your strategy too fast. Try one strategy at a time and strict to that rule for at least 6 months. If you are really strict to the rule and the number of win is less than the number of loss, don’t use that strategy anymor
Don’t trade on news. It’s really unpredictabl
Don’t trade when you are not in a good condition. We bet you won’t trade well. Trade only when you are happy and fres
Don’t give up and don’t feel down if you haven’t got a lot of profit or even still losing in FOREX market. Nobody cares about your loss
www.FOREXbandade.com
Total Solution for FOREX Sickness