Forex Trading Success Tips

1. Create an overview of planning and trading. The criteria, you have to know when:
Open positionHow many digits Stop Loss and Take Profit 'ideal'Has a financial management strategy (money management). This is related to how long you trade in a month, how do you account resistance level against the risk of loss, when the attraction of funds, when adding funds, and allocation of income to savings, investment and consumption.2. Make the trend as your best friend (Trend Follower). Never go against the trend of the market (though not including mandatory rules). If prices are rising, you can install Buy position and vice versa when prices are down then you can install Sell position. Most people often take the opposite (counter trend) and often wrong - although there is also often true :).
3. Keep well and carefully your capital. Do not allow your capital to $ 0.0. If indeed loss, try to keep 10-50% of your capital, so that when the time comes to add funds or injeck, or dollar amount paid is not too big. Imagine if you have to add funds to Forex trading as a result of your loss.
If in two or three trades already spend 20-40% of the capital due to loss, stop for a moment. Hold yourself to open a new position. Do not obey yourself to "avenge" or "want return on investment". Try to calm your mind and your head. Arrange your trading system back in the Demo Account. Spend time 3 days - 1 week to try trading system at the Demo Account.
If already established, please go back to Real Account.
4. Knowing when to dispose of "toxic". The term toxin is a Buy or Sell that have been opened which has been floating (floating position / not closed) negative or minus position fairly large. Say if Buy GBP / USD you have -150 points in the span of two hours, is still worth keeping. Or if the position of the AUD / USD is minus -100 within 20 minutes, if still loved-baby ??!
Ah, then the price back again. Well, if the price ndak back and forth, we become "poisoned" himself, both mind and body. We can physically ill to think of a position that has not been closed, which reached 200 points for example. Just remember, for the money now rather difficult times well. If already ndak productive within 2-3 hours, well be amputated / Cut Loss. Cut, remove the already bloated and unproductive. Moreover, that would make the position of stay, more than one day with more expected profit well and also get a premium interest rate, put obligatory Stop Loss. Our advice, if you want to continue tomorrow, attach Stop Loss 200 points from your open position. Use A Trailing Stop if the facility is provided by the trading platform.
Stop Loss Plan as early as possible. These days, price action for the Euro & Pound reaches 200-400 points per day. Determine ideal Initial Capital & Stop Loss you with such a situation.
5. Do not emotion. If you've reached daily or monthly targets, get out of the market. Do not be greedy.
Avoid fear. Now it is linked with tips no.6, be informed. If you already know the extent to which prices can move with technical indicators and fundamental, do not look for illness. Do not hesitate to put Stop Loss or Trailing Stop to limit losses.
6. Be smart and informed. Not intended to support one private TV, but be a smart trader. Smart here is no basis why should Buy and Sell why. That is, you should research the market as Fundamental and Technical. Open daily news of Belajarforex.com or Forexfactory.com. Adjust date & time to time where you are.
7. Immediately write your trading on a trading journal. Make a note Profit / Loss Your daily. Record also the causes, why and why profit and loss. My Trading Diary .....
8. When prices move sideways or a little, do not enter the market. Bottom line if your own conscience hesitation, how your forex trading. Any URLs of your Forex account as a car that takes you on a profit / gain.* Not applicable for those who did his specialization in the market sideways!
9. Do not trade too much or excessive. In one day, you're a scalper for a maximum of 10 times the position. Daytrader good for a maximum of 2 positions and even fewer Swing Trader. Remember, the condition of technical & fundamental analysis Forex frequent change from time to time.
10. Never Give Up. Do not give up .. do not ever give up. Loss of Demo $ 5000 within 1 month, try again with a $ 1,000 grant. Loss, log in again to fund $ 3,000, and so on. Find a trading system that works for you. The goal is only one: Profit & Consistent.
Source: Google.com