Forex Trader’s Success Rules in Trading

Most of us are familiar with the quote: “Experience is the best teacher”. In forex trading, if you are a newbie, more than the courses and demo accounts that keep sharpening your trading abilities, there is no more greater teacher than learning from the experience of traders.

This is like a boost in the you’re learning, saving time and age to learn concepts. These rules however, are from successful forex traders. Why not learn from the best? Are you ready to follow?

First :
Do not risk more than you can handle. At one point or another, a successful trader has its share of losses and gains, this losses however, make them stronger, not the other way around.

For example, on a simple trade, never risk any more than 2% on your margin trading account.

Second:
Know your exit point before you enter a trade. this is more of common sense, why plunge into something you don’t know how to get out of?

Third:
If at the start you do not know where are your stop loss order and limit order, then don’t even think of trading in the first place.

Fourth:
Study courses first and practice in a demo account before even think of going into trading. Practice, practice, practice some more before a real account.

Fifth:
Patience is indeed a virtue, and a calm head too. Let emotions rule you and your out of the game before you can even say “currency”.

Sixth:
Trade less, gain more. large gains don’t come everyday, keep your eyes and ears open for opportunities.

Follow these simple rules and sure enough you will enjoy the benefits of Forex Trading.

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