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10 Golden Rules of Forex Trading
10 Golden Rules of Forex Trading
10 Golden Rules of Forex Trading
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GO
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OF LD
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FO E
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GO!
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FOLLOW YOUR
LEARNING CURVE,
THERE ARE NO
SHORT CUTS HERE
The market is always
changing and it may be
hard to understand and
keep up with these changes
unless you invest in good
Forex trading education.
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AVOID HUNTING
FOR TOPS
AND BOTTOMS
IN TRADING,
LEARN TO TRADE
WITH THE TREND
There are many beginners
who make trades in any
direction. While there is a
possibility for making
profits both on the upside
and downside, trading in
the direction of the trend
will give you the best trades
and chances for success.
A trend is your friend.
Wallstreet
TRY TRADING ON
A DEMO ACCOUNT
BEFORE GOING
LIVE IN A REAL
MONEY ACCOUNT
Make a demo account and
use it to learn and understand Forex trading. While
using a demo account you
will be able to test your
trading strategies and
mentally prepare yourself
for a real trade. However,
keep in mind, that you
should be realistic and treat
your demo funds as real
money; otherwise, there is
no way you can learn from
demo trades.
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PUT YOUR
EMOTIONS ASIDE
WHILE YOU TRADE
Trading is a stressful work, and
there will be a lot of setbacks on
your way to the peak. Emotional
trading may force you to open a
trade too early and eventually lead
to a loss due to a wrong entry.
Control your emotions by staying
cool and calm, and focus on your
long-term goals.
When in doubt, dont.
Benjamin Franklin,
one of the Founding Fathers
of the United States
DO NOT TRADE IF
YOU HAVE DOUBTS
Just because the Forex market is
online twenty-four hours a day
does not mean that you have to
trade all that time. If you are doubtful, do not trade at all, but instead
analyze the market and use the
knowledge you get in the future to
make more profitable trades.
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PREPARE A TRADING
PLAN BEFORE YOU
ENTER ANY TRADE
Because trading is always full of
emotions, you must have a trading
strategy, which includes a set of
rules which you stick to, thus
protecting you from yourself.
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KEEP IT SIMPLE
Avoid trading strategies
which are too complex to
understand and which use
a lot of different techniques.
They can distort your judgment and you will miss a lot
of good trading opportunities.
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Never risk what you
cannot afford to lose.
H. Jackson Brown,
famous American author
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REVIEW
ALL TRADES
REGULARLY
Develop a habit of
reviewing and analyzing your good and bad
trades. Then, you will
have a much better
sense of what works
best in your future
trades.
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AND FINALLY...
... if you think you are ready, open a real
account and recieve a 50 EUR as a gift
from Admiral Markets:
www.admiralmarkets.com/landing/50eur-en-gv93v8/
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GOOD
LUCK!
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EXIT TO SUCCESS