I think it is important for you to select a currency pair to trade on too. And before start trading you must look at the position of the market and read all the news too. Then you can set your trading strategy and see if there is a signal. mean time you can refer others analysis reports too. Then based on all the details you can open position. Once you open the position you must decide your SL/TP levels. It is also important because that will not only safe guard your profit but also safe guard your loss from un expected market movements