1. Risk Management
- Never risk more than 1–2% of your account per trade.
- Always use a Stop Loss.
- Keep a Risk/Reward ratio of at least 1:2 (risk 50 pips to gain 100 pips).
📌 2. Rely on Analysis
- Combine Technical Analysis + Fundamental Analysis.
- Identify the main trend before entering.
- Avoid trading against the trend unless you have a strong setup.
📌 3. Trading Psychology
- Avoid greed and fear, the two biggest reasons for losses.
- Don’t do revenge trading after a loss.
- Stick to your plan even if the market moves against you temporarily.
📌 4. Clear Strategy
- Have a defined entry and exit strategy (tested with backtesting).
- Don’t change strategies every day—consistency is key.
- Test on a demo account before going live.
📌 5. Trading Time
- Best times: London & New York sessions (high liquidity).
- Avoid trading during major news events unless you are experienced (e.g., FOMC, NFP).
📌 6. Leverage Management
- Use the lowest leverage possible (1:10 or 1:20).
- Avoid high leverage (1:500, 1:1000) because it can cause quick margin calls.
📌 7. Review & Learn
- Keep a Trading Journal: record why you entered and exited each trade.
- Review your performance weekly to improve.
- Stay updated with global markets and economic events.
🔑 Formula for success in Forex:
👉 Discipline + Risk Management + A Clear Trading Plan
Post a Comment