10 Amazing FOREX TRADING TIPS For New Traders

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10 Amazing FOREX TRADING TIPS For New Traders

Forex has caused massive losses to most unskilled and impatient traders over the years. Thus you should not be one of them. Here are 10 forex trading tips that you may employ to avoid failure and increase your profits in the forex trading industry.


  1. Manager risk and understand your needs

To gain profit in trading, you should understand the markets. And you must carefully analyze your own professional plans in engaging Forex trading.


  1. Make your plans and Stick to your plan

When you know what you want from trading, you have to analytically define a timeframe and a working plan for your trading profession.


  1. Select your broker carefully

A fake or dishonest broker invalidates all achieves obtained through difficult task and study is obvious.


  1. Select an appropriate account type and leverage ratio

It is important that we select the account type that is most suitable to our potential and understanding level. The different types of accounts presented by different brokers can be mystifying at first, but the common rule is that lower leverage is best.


  1. Start with small Funds

One of the finest tips for forex traders is to start with small funds, and low leverage, while adding up to your account as it produces profits.


  1. Focus on a particular currency pair

It is difficult to master all the dissimilar types of financial action that goes on in this world, so it is a big idea to limit our trading movement to a currency pair which we are familiar and understand most.


  1. Do what you realize

Overall, if you are unsure that you know what you are doing, and that you can protect your belief with energy and strength, do not make trade. Do not make any trade on the basis of public rumors.


  1. Do not add to a losing position

Nobody knows where a currency pair will be reach after the next few hours, days, or even weeks. So, there is no point in adding to a losing position, unless you like gambling.


  1. Control your emotions

Greed or emotion should have no place in forex trading. However traders are human beings, therefore it is sure that we have to get a way of living with these, while at the same time controlling them and reducing their effect on our lives.


  1. Keep notes Review your success and failure

Winning trader will maintain a diary, a journal of his trading action where he often analyze his successes and mistakes to study what works and what does not.


By |December 18th, 2014|Categories: Income & Making Money, Investing|Tags: , , , |5 Comments


  1. Ian December 23, 2014 at 11:45 am - Reply

    Do you have a suggestion for useful books I could read as a beginner in trading? Thanks in advance.

  2. Adrian December 24, 2014 at 12:02 am - Reply

    I’ve recently started trading and my broker seems to be very nice and also knowledgeable. Before going to him I had already tried 4 other brokers just to know what I should be looking for.

    I also have a little experience in trading but I am posing as a complete newbie to see how he thinks and if he has my best interest in mind. He passed my initial tests so things are going well. I highly recommend you don’t stick with your initial broker and test a few before you stick to one.

  3. Val Johnson December 26, 2014 at 3:57 pm - Reply

    I would also be interested in reviews of a couple books that can get me headed in the right direction with FOREX trading. Thank you!

  4. Samuel Worton December 27, 2014 at 4:42 pm - Reply

    Thank you for quality information you give!!! These are very useful trading tips for new-traders.

  5. furtdso linopv July 10, 2015 at 10:30 am - Reply

    I really like your writing style, superb information, thank you for putting up :D. “In university they don’t tell you that the greater part of the law is learning to tolerate fools.” by Doris Lessing.

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