Discussion in 'Forex' started by MR. FTrader, Mar 27, 2007.

  1. Here are 7 tips that will help you
    make more money with forex trading.


    When you are new to Forex you will be trading yourself or
    have someone else do it for you. Obviously you will make
    more trading yourself, but you must know these things.

    If you have someone else doing it, don't interfere what he
    is doing... he has a strategy that may take some time, let
    it ride.

    And if you are doing it yourself... don't get too much
    information... if you try and get too must information from
    too many sources this will result in only multiple losses.

    Take a position, ride with it and then look back and analyze
    what has happened. Be independent and stand strong.

    Don't Get Over-Confident

    Take tiny margins. It is one of the biggest advantages in
    trading forex. It allows you to trade amounts far larger
    than the total of what you have deposited. But don't get
    over confident with this... some rookies get greedy and this
    destroys many traders. Only increase depending on your
    experience and success.

    Trade When It's News Time

    Most really big trade occur around news time. Trading volume
    is high and the moves are noteworthy. This means there is no
    better time to trade than when the news is released. This is
    when the big guns adjust their positions and prices change
    resulting in a serious currency flow.

    5 Exiting Trades

    If you place a trade and it's not working out for you, get
    the hell out of there. Don't multiply your mistake by
    staying in for hopes sake for a reversal. That is very
    unlikely to happen. And on the other side if you are winning
    a trade don't pull back because of the stress levels. You
    must learn to tolerate the stress, it is natural to trading,
    you must get used to it.

    Don't be smart

    The most successful traders keep their trading basic. They
    don't analyze all day or research historical trends and
    track web logs and their results are excellent. They spend
    their time in the stress zone not in the library.

    Follow Forex websites

    You should follow the web sites which related Forex such as FXCM.

    Build Your Confidence With Experience

    If you lose money early in your trading career it's very
    difficult to regain it; the trick is not to go off
    half-loaded; learn the business before you trade. Knowledge
    is power when coming to trading.
  2. #2 (margin) is good advice at its core, if presented in a less than compelling way.

    The other 6 tips... really, really BAD advice for anyone who could benefit from forex trading advice. Can't tell if the OP is genuinely clueless, playing a trouble-maker for whatever reason, or works for FXCM.
  3. What are you cooking MR.FTRADER?
    You just opened another thread few hours (Actually 20 minutes apart) ago next to this one, on both pushing FXCM. Coincidence?
  4. I think not...Looks like some newbie just got his first job at guess where????


    This guys is almost as bad as that poser from TradexFX a couple weeks back.