A Few Tips

Discussion in 'Forex Trading' started by T-Bone Trader, Jul 17, 2009.

  1. I've traded forex for a few weeks now and would like new traders to be aware of the following so that they can avoid some of the mistakes I've made:


    - please use more than 10% of your buying power available

    - generate activity reports daily so that you have a good record of trades just in case there is a dispute

    - do not overtrade

    - learn how to navigate your trading platform on a demo before committing real money first

    - make sure that your fx broker is well capitalized

    - if you plan on trading lt timeframes, take small positions and big profits

    - if you plan on trading st timesframes, take small positions and big profits

    - again, do not use too much leverage buying power ! ! ! !

    Good Luck!

    Making money in fx is not impossible but I have to admit it is a bit more difficult than stocks or futures due to the bucketshop business model...

    I'll be out of commission for sometime now but will definitely update the board if I make a significant comeback

    Humble pie tastes very very bad ! ! ! !:(
     
  2. govno

    govno

    I've decided never to feel bad about trading and blowing up

    wanna know why ?

    because I got million friends like you who tried this gig and failed. Failure rate is so high that there is nothing to be ashamed about :)
     
  3. I have been ultra deep diving for few weeks and would like to give you few tips:

    1. Don’t forget the thanks
    2. Be aware of nitrogen narcosis
    3. Make decompression stops
    4. Mind the Oxygen toxicity

    Now go get them.
     
  4. cstfx

    cstfx

    Let me guess...you stayed at a Holiday Inn Express last night!
    And just exactly how has this impacted you during your extensive career trading forex?
     
  5. Forex

    Forex

    Good luck, it takes years to master to trade <a href="http://fxline.com">forex</a> in most cases.