many Demo accounts , and Live accounts as you need. All accounts can be created online and
managed under your ForexGen profile. You can mix between Mini, Standard, Pro, Premium and
No Dealing Desk accounts in one Profile. Instant Approval.
These Currency Trading Tips aim to help you avoid making the common mistakes that hurt your account balance.
1. Always have a solid trading plan
2. Never Deviate from your plan
3. Make sure your trading plan includes the amount of your account you want to risk for each trade
4. NEVER under any circumstances overtrade
5. Follow the trend. It is your friend afterall.
6. Don’t be tempted to listen to “experts” and piggy back them. Stick to your plan
7. Forget about buying other peoples Forex Forecasts and such like. If they were good traders, they’d be trading, not selling their forecasts.
8. Spend at least several months trading a demo account before trading live
9. Only ever trade risk capital, basically don’t bet the farm!
10. Forget looking for the perfect system, it doesn’t exist
11. Do your best to be an emotionless trader. Emotions and trading are a potentially dangerous combination
12. Write down your mistakes and try to learn from them.
13. Always triple all of your orders to make sure they are correct
14. Ensure you have a solid understanding of lot sizes, rollovers etc before trading live
15. Always stay humble to the forex market. Never get cocky. You are a little fish, It is big enough to swallow you up.
16. Forget trying to find an easy route to success. There is no free lunch.
17. Never be blind to the risk of trading
18. Be prepared to accept the risks before trading live.
19. Choose your broker wisely. Brokers can go bankrupt. Make sure your broker is regulated.
20. Don’t blame your broker for your dwindling account balance. You chose that broker, it is your fault.
21. Accept that forex trading is hard and you will have losing streaks of trades. Learn to deal with the emotions that come with these.
22. If the stress of trading is getting to much for you, take a break. Take as long as you need.
23. Keep leverage very low, unless you really know what you doing with it.
24. Start off trading $1000 lots, also known as microlots
25. You are a little fish in the big market and don’t forget it.
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