10 Essentials Of Forex Trading - Top 10 Forex Trading Essentials For Getting Into The Top 10 Percent
Forex traders are frequently looking for the 10 essentials of Forex trading. This article will discuss the top 10 essentials of Forex trading. Keep reading to get instant access to a Forex $100.000.00 demo account.
Forex trading is not a game, it's a business. Only a select 10 percent of Forex traders are consistently successful. These 10 essentials of Forex trading will help you get into the select 10 percent and stay there.
Essential of Forex Trading Number 1: The majority of your time should be spent on the 15 minute chart only.
Essential of Forex Trading Number 2: Don't overdo it. If you are new to Forex trading then only try and carve out 20 pips at one time. Once you have done that turn it off and do some more Forex study.
Essential of Forex Trading Number 3: Try not to dwell much at all on the 5 minute chart as it could only serve to distract you and confuse you.
Essential of Forex Trading Number 4: Don't use MACD for buy and sell signals as it is useless as a trigger.
Essential of Forex Trading Number 5: Do all you can to protect your money by using 20-30 pip stops in your Forex trading. You will generally lose 3 out of 10 trades so it's important to keep your losses to an absolute minimum.
Essential of Forex Trading Number 6: Consider employing trailing stops where you keep moving your Forex profits up to protect your losses.
Essential of Forex Trading Number 7: Keep an accurate and detailed log of all your good and bad trades. Analyze where you went wrong and what you could hav done better.
Essential of Forex Trading Number 8: Your "gut feeling" can get you into a lot of financial trouble. Only react to bona fide indicators and ignore all others.
Essential of Forex Trading Number 9: Everyone has different pivot points because everyone uses different market markets.
Essential of Forex Trading Number 10: If you're not going to take Forex trading seriously then don't even start!
There are many fundamentals that successful Forex traders follow to ensure they reach and stay in the select group of 10 percent of Forex traders who are consistently Forex winning traders.
Forex trading is not a game, it's a business. Only a select 10 percent of Forex traders are consistently successful. These 10 essentials of Forex trading will help you get into the select 10 percent and stay there.
Essential of Forex Trading Number 1: The majority of your time should be spent on the 15 minute chart only.
Essential of Forex Trading Number 2: Don't overdo it. If you are new to Forex trading then only try and carve out 20 pips at one time. Once you have done that turn it off and do some more Forex study.
Essential of Forex Trading Number 3: Try not to dwell much at all on the 5 minute chart as it could only serve to distract you and confuse you.
Essential of Forex Trading Number 4: Don't use MACD for buy and sell signals as it is useless as a trigger.
Essential of Forex Trading Number 5: Do all you can to protect your money by using 20-30 pip stops in your Forex trading. You will generally lose 3 out of 10 trades so it's important to keep your losses to an absolute minimum.
Essential of Forex Trading Number 6: Consider employing trailing stops where you keep moving your Forex profits up to protect your losses.
Essential of Forex Trading Number 7: Keep an accurate and detailed log of all your good and bad trades. Analyze where you went wrong and what you could hav done better.
Essential of Forex Trading Number 8: Your "gut feeling" can get you into a lot of financial trouble. Only react to bona fide indicators and ignore all others.
Essential of Forex Trading Number 9: Everyone has different pivot points because everyone uses different market markets.
Essential of Forex Trading Number 10: If you're not going to take Forex trading seriously then don't even start!
There are many fundamentals that successful Forex traders follow to ensure they reach and stay in the select group of 10 percent of Forex traders who are consistently Forex winning traders.
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