Forex Trading Resolution In 2015
As a resolution of New Year, I will not treat forex trading as in Gambling, since I wish to throw the bat in the right air for entire year with sustainable profits. Though, Forex Trading is the path of some highs and lows but still I will get follow my Trading Plan in any tits.
Few Suggestions that I got from one of Financial Wizards: Let me ask you a question before moving forward!
How many Pips you can afford to lose?
The most common mistake a newbie makes, I GUESS!
Try start trading on Demo account if you have not enough capital or you can start with small accounts. Dont take risk, if you cant afford the loss, its better to focus on trading skills.
Even you need to follow a forex trading journal like I need
Whether you are a smart trader, make sure you are going in the hands of bad habits until you keep a trading journal. It is the trading mistake by which you learn and sharpen your skills. Trading journal gives experience to overcome the mistakes and confidence if you go as per plan. It is the document that tells whats working and what isnt!
To take assistance is not a shame!
No trader is perfect in trading. Every expert was once newbies. So there is no harm to furnish trading skills if you get in touch with other trading champions, trading forums, E-books, news and views of market analysts! Be frank in asking trading questions on trading platforms or to your trading broker. He is the person who seems as a driver of your Trading Car!
Not all shining are Gold!
The new strategy in the market nowadays is not good always for you if it has proved good for your friend! Check your journal and compare your strategies with targets you had decided. Proper adjustment in stop losses, position sizing, or indicator settings are all should be a point of focus for profitable trades. Sometimes even the best strategies dont give fruitful results if it executed poorly!
Realistic expectations are expected here!
Set reward-to-risk ratio and set realistic goals as per your trading performance and your capital limitations. Not all traders are succeeded in online forex trading. But those who believe in process rather than profits do well here.
May this year could fulfill fantastic targets with awesome profits!
Few Suggestions that I got from one of Financial Wizards: Let me ask you a question before moving forward!
How many Pips you can afford to lose?
The most common mistake a newbie makes, I GUESS!
Try start trading on Demo account if you have not enough capital or you can start with small accounts. Dont take risk, if you cant afford the loss, its better to focus on trading skills.
Even you need to follow a forex trading journal like I need
Whether you are a smart trader, make sure you are going in the hands of bad habits until you keep a trading journal. It is the trading mistake by which you learn and sharpen your skills. Trading journal gives experience to overcome the mistakes and confidence if you go as per plan. It is the document that tells whats working and what isnt!
To take assistance is not a shame!
No trader is perfect in trading. Every expert was once newbies. So there is no harm to furnish trading skills if you get in touch with other trading champions, trading forums, E-books, news and views of market analysts! Be frank in asking trading questions on trading platforms or to your trading broker. He is the person who seems as a driver of your Trading Car!
Not all shining are Gold!
The new strategy in the market nowadays is not good always for you if it has proved good for your friend! Check your journal and compare your strategies with targets you had decided. Proper adjustment in stop losses, position sizing, or indicator settings are all should be a point of focus for profitable trades. Sometimes even the best strategies dont give fruitful results if it executed poorly!
Realistic expectations are expected here!
Set reward-to-risk ratio and set realistic goals as per your trading performance and your capital limitations. Not all traders are succeeded in online forex trading. But those who believe in process rather than profits do well here.
May this year could fulfill fantastic targets with awesome profits!
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