A Few Tips

Discussion in 'Forex' 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


    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


    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


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