K.I.S.S- Keep it simple stupid: 5 Simple Forex Tips

K.I.S.S- Keep it simple stupid: 5 Simple Forex Tips

K.I.S.S- Keep it simple stupid: 5 Simple Forex Tips

 

1. Don't let your losses run; always place stop loses to cut them on time. Learn from your mistakes and let them guide you to better decision making in the future, from that profits will naturally follow. Try to set realistic profit goals and a realistic risk tolerance level for every trade. After doing that, you can set a stop- loss order at the price you want, but make sure not to set it too close to the market, otherwise it might take you out of the position too quickly and your profit may be compromised.

2. Never trade on an impulse, stay calculated and have a readymade plan you feel comfortable with. Traders that have a plan tend to succeed a lot more than traders who don't. Keep that in mind.

3. Don't get discouraged quickly! Remember that traders who stay in the market and persevere are the ones who will get to trade the major moves the market has to offer and thus make a lot more profits than others.

4. Remember that often times than not, you will be the minority. Learn to accept that because in Forex the winners tend to have a different view on things than the majority.

5. Timing is key in Forex; you have to make sure to enter at the right time, if you enter a few minutes later that might result in losing. In order to prevent that you have to both determine the market's direction and the entry point's timing. 

Are you ready to start trading?

Now is your chance! Open an account here

 

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on email
Email

Recent .

Dogecoin is going to the moon… literally!

Dogecoin is going to the moon… literally!  While the cryptocurrency markets have been put through the mill the past few weeks, Dogecoin managed to steal the spotlight …

Read More →
Stock of the Week: Apple in huge demand, beats estimates by billions.

Stock of the Week: Apple in huge demand, beats estimates by billions. Apple beat estimates for quarterly earnings by billions of dollars. We look at …

Read More →
Stock of the week: Facebook makes CEO Mark Zuckerberg $8 billion in just one week!  

Stock of the week: Facebook makes CEO Mark Zuckerberg $8 billion in just one week!   It has been a momentous week for Facebook CEO Mark Zuckerberg who …

Read More →
Big Tech earnings roll in – Huge profits for Google, Microsoft and more! 

Huge profits for Google, Microsoft and more! Major big tech companies have released their quarterly earnings. We look at how some of the world’s biggest businesses performed so far this year!     Google, …

Read More →
MetaTrader 4 vs MetaTrader 5 – which is the better platform?
Bitcoin bounces back: Is buying the dip worth the risk?

Bitcoin bounces back: Is buying the dip worth the risk?  Bitcoin has recovered some of its losses following its fall from a record high of $65,000. Considering the crypto king’s astonishing performance in 2021, should …

Read More →
Oil summit: Waste of time
Oil market outlook: bumpy ride ahead?

2020 has been disastrous for the oil markets, however, it appears that oil has recovered most of its losses and is now hovering near pre-pandemic levels. In today’s article we will take a look at oil’s recent performance and explore the opportunities that may lie ahead.

Read More →
˄