i think these simple tips and advice for people of all countries to prevail on them first and i want to add only one thing.That is follow the news because the news has the most powerful effect on forex trading market....
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i think these simple tips and advice for people of all countries to prevail on them first and i want to add only one thing.That is follow the news because the news has the most powerful effect on forex trading market....
yes all the above tips are very good for all forex traders but one thing that we all as traders need to know and understand is that for you to be able to achieve all of these you must be a very disciplined trader because only disciplined traders can easily keep to all of these useful tips and keep to it religiously and never derail from using it because it will greatly help you to know that it is possible to make gains in this forex market.
10 Tips for Successful Trading
Trading Tips Shorten the Learning Curve
we believe that every trader should have the very best opportunity to succeed, from the get go. That’s why our trading experts have assembled their Top 10 Tips for successful trading. Our goal is to ease you into social trading and eliminate the hazards of trading blind. Below you’ll find solid principles for classical trading, in addition to social trading.
1. Chose a Style
Not all trades are for all traders. In other words, your trading activity should correspond to your account size, to your availability and other individual factors. If your account is relatively small, you have to scale down your activity so that you don’t risk too much on any one trade. If you’re not available to monitor your trades constantly, don’t open high risk short term positions that require quick intervention. If you don’t know much about the Japanese Yen, don’t trade it until you do.
2. See, Follow, and Copy
The OpenBook social trading network is there to connect you with other traders so you can learn and share ideas with them. Pick traders who have a similar trading style to yours and follow them so you can learn their strategies and techniques. Following other traders can also alert you to profitable trading opportunities.
3. Don’t Forget your Stop Loss
One of the most common reasons people quit trading is heavy losses and the single biggest cause of losses, is failure to use a Stop Loss. Using a Stop Loss will prevent your losses from getting out of hand when the market goes against you. Use it wisely and you can avoid catastrophic losses. (We do not let our traders using the eToro Web Trader trade without a stop loss.)
4. Don’t Close Too Early
The number one mistake new traders tend to make is closing their winning trades too early. By sticking to your trading plan you can learn to avoid making hasty exits that reduce your returns.
5. Avoid Turning Profitable Trades into Losing Ones
Once the market is going your way, and your positions show a profit, keep a close watch on them. Move your stop loss forward to your entry point to secure your investment. Then keep moving it forwards, in the direction of the trend, to secure your profits and prevent your trade from slipping back into a loss.
6. Only trade according to your plan
Never enter a trade because the price is suddenly rising or falling. Always plan your trades in advance. Know your desired entry point, Take Profit and Stop Loss rates before you trade and wait for the right opportunity to arise.
7. Know When to Cut Your Losses
If you find yourself in a losing position, remember that it is better to save your energy, cut your losses and move on to the next trade. The financial markets are full of tradable opportunities, just waiting to be exploited, so don’t waste your time and funds on an unprofitable trade!
8. Don’t Trade: CopyTrade
eToro’s investment network enables you not only to receive information about others’ trading activity, but to copy it automatically. With CopyTrader you can allocate a portion of your account to copying any other trader on the network, preferably a profitable one, so that your money can work for you even when you’re not trading!
9. Find Your Ideal Social Trading Guru for you
The Guru Finder feature is very useful in finding the right traders for you to copy. By configuring the many parameters of this OpenBook search tool to your desired settings, you can find the right set of traders for you to consider copying.
10. Effective Management of your CopyTrader Portfolio
Just because you have others trading for you, doesn’t mean that you should let them take over your account completely. Remember that you can always take over a copied trade if you see that it’s not going anywhere, or even stop copying a trader all together if you’re not satisfied with their performance. You should also be on the lookout for any new emerging stars on the OpenBook network that can perhaps make you more profits than the traders you’re currently copying.
hmm this is very useful tips for me i agreed with this and i use these tips in my trading. thaks
bhai trading ke liye kafi tips hoti hai, joki trader ko di bhi jaati hai, agar trader trading tips ko follow karta rahega, to is field mein wo un sabhi cheezo se bach sakega, jo galtiya karke loss karte hai.Quote:
Originally Posted by Nabi Ahmed Gill
forex. genuinely, when i don't often work with halt burning in addition to i prefer make use of trailing halt burning or maybe hedging, and so for doing this, there is absolutely no utter conclusion intended for dealing for the reason that solution, many broker work with halt burning along with the different definitely not work with it, in addition to simply because include his or her strategy to triumph over excess ailment.so do it.
Quote:
Originally Posted by nurhidayah
aap ne boht achi advices di hain as a beginner hamain yeh sare rules follow karne chahiye warna loss hone ka ziyada khatra hai
4 Important Currency Trading Tips Every Forex Trader Should Apply :-
1. Try to trade risking only a fraction of your invested capital.
2. Plan your trade and trade your plan.
3.Trade the signals not the trades.
4.Break your rules and you get burned.
Thanks
Danyal
tips tu buhat zaida hoti hay lakin trader sab tips ko follow nh karta hay . sab sa bari tip yahi hay k trader greedy nh hona cahiyay . agar wo greedy ho jata hay tu wo kabi bi achi earning nh kar sakta hay .:)Quote:
Originally Posted by dareking
forex mai tips milna he zara mushkil hota hai agar us ko tips mil jaye tou har mistake karnay sai door rahy aur apni trading ko acha bana saky magar aysa bhut kam hota hai kio k apni tradign tips koi shere nahe karta hai ap ko khud he is mai hard work karna parta haii.....