Originally Posted by
fxlife2015
My friends we all know that forex trading is a highly risky trading business in the world and we all need to lower our risk while trading at forex trading, without minimize our risk at trading we can not get success at all.
If we want to lower our risk at trading then we have to follow some rules and they are as
1. Do homework: we need to do homework to get the success in trading and we know that without proper knowledge we can not get success here and so need to learn the proper knowledge.
we have to set the
Risk Levell ( I think not more than 2% per trade)
Set Goal : have to set goal, use Stop loss and take profit at the right area on the basis of market situation.
2. Use reasonable Leverage:
We all need to set our accounts with proper leverage setup. we know that forex trading is very interesting and profitable because, traders can make money with small capital through leverage but using high leverage depends on the traders experiences and understanding of the market.
3. Trade as a trader not as a gambler:
We all need to trade as trader not as a gambler and we should maintain a good trading strategy and have to follow the strategy and wait for the right time to entry and do not trade as a gambler.
4. Avoid Emotions:
Most of the new traders are losing money in forex trading because of emotional trading but we all need to avoid the emotional trading at forex trading , specially we need to avoid the GREED.
5. Trade with Discipline:
Forex traders should follow discipline at every trades and without discipline no one can survive in forex trading and can not get long term success in trading.
6. Do not try to make money shortly:
Most of the time we try to make money shortly but it is the most dangerous thing for the forex trading and we all need to avoid this mentality, forex is a high risky but if you can trade with proper winning strategy and follow discipline then you can make money regularly but slow and steady always win here.