- 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
