Forex Trading Success Tips

Forex Trading Here are tips for a successful veteran traders:

1. Create a picture of planning and trading well, plan whenever:
* Position Open
* Set a Stop Loss & Take Profit ideal
* Create Financial Management Strategy, it is associated with a trading period in a month, your account how the level of resistance against the risk of loss, when to pull the funds, when adding funds, and allocation of income to savings, investment and consumption.

2. Make your best friend as a trend (Trend Follower). Do not ever fight the market trend (though not including mandatory rules). If prices are rising, you can install Buy and reverse positions if the price is down then you can install Sell position. Most people often take the opposite (counter trend) and often wrong - though there's also often true:).

3. Keep well & carefully your capital. Do not allow your capital to $ 0.0. If indeed the loss, try to maintain 10-50% of your capital, so that when the time comes to add funds or Injeck, Rupiah or dollars paid is not too big. Imagine if you had to add a large fund for your loss due to Forex trading.

If in two or three times the trading already spent 20-40% of its capital due to loss, stop for a moment. Hold yourself to open a new position. Do not obey yourself to "get even" or "want payback." Try to calm your mind and your head. Arrange your trading system back in the Demo Account. Set aside a time of three days - one week to try the Demo Account trading system.

If already established, please go back to Real Account.

4. Knowing when to dispose of "toxic". The term toxic is buy and sell position which has been opened which has a floating (floating position / not closed) a negative or minus a sizable position. Say if you buy GBP / USD you have -150 points within two hours, is it still worth keeping. Or if the position of the AUD / USD is minus -100 in the period of 20 minutes, if still loved-baby??!

Ah, will not you back the price. Well, if the price of not turning, we become "poisoned" himself, both mind and body. We can physically ill to think of a position that has not closed that reached 200 points for example. Just remember, find the money now rather difficult times well. If is not productive within 2-3 hours, well to be amputated / Cut Loss. Cut, remove the already swollen and not productive. What else would make the position of stay, more than one day with more expected profit wah and also receive a premium interest, is obligatory to install a Stop Loss. Our advice, if you want to continue the next day, put the Stop Loss 200 points from the point of your open positions. Use Trailing Stop only if the facilities provided by the trading platform.

Stop Loss Plan you as soon as possible. These days, the price movement to the Euro & Pound reach 200-400 points per day. Determine ideal Initial Capital & Stop Loss you with a situation like that.

5. Do not be emotional. If you've reached your daily or monthly targets, get out of the market. Do not be greedy.

Avoid the fear. Now it is linked with tips no.6, be informed. If you already know how far prices can move with the technical & fundamental indicators, do not look for the disease. Do not hesitate to put a Stop Loss or Trailing Stop to limit losses.

6. Be smart and informed. Not intended to support one private TV stations, but rather be a smart trader. Smart here is no basis why should buy and why must Sell. That means you must research the market as a Fundamental and Technical. Open up the Daily News from or Adjust date & time to time in which you reside.

7. Immediately write your trading on a trading journal. Make a note Gain / Loss Your daily. Note also the causes, why and why profit and loss. My Trading Diary .....

8. When the price or a little sideways movement, do not enter the market. Essentially if your own conscience in doubt, what about your forex trading. Your Forex Account URLs just as a car that takes you on a profit / gain.
* Not valid for those who are specializing in Sideways when market!

9. Do not be too much or excessive trading. In one day, you are a scalper for a maximum of 10 times the position. To your good Daytrader maximum two positions and even fewer Swing Trader. Remember, the condition of technical & fundamental analysis Forex frequent changes from time to time.

10. Never Give Up. Do not give up .. never give up. Loss of Demo $ 5,000 within one month, try again with the fund $ 1,000. Loss, came back with the fund $ 3,000, and so on. Find a suitable trading system for yourself. Only one goal: Profit & Consistent.