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Forex Tips, Tips for new forex traders
Have a concrete trading plan
Always stick to your trading plan
Never under any circumstance over trade
Never to pay much attention to what an “Expert” believes price will do in the future, He has no idea.
Don’t believe the news, believe the price action
Always use solid risk management
Trade with the trend, it is your friend after all
Make sure your strategy has a good chance of being profitable after the spreads have been paid
Make sure your strategy can comfortable survive a bad run of trades
Choose your forex broker wisely
Do your very best to leave emotions completely out of your trading
Double check your orders to ensure there are no mistakes
Never try and find the strategy that is the “holy grail” you won’t find it
Don’t even consider trading live until you are confident you have a good chance of succeeding
Never think trading is easy
Don’t waste your money buying other peoples strategies
Be very skeptical about any training course. The vast majority of forex training courses are less than stellar.
Spend time reading forex forums online. They are free and contain a lot of useful information