What are some lessons you’ve learned from trading in the ForEx?
November 15th, 2009
jools4fools asked:
I’m just learning about the ForEx and I’d like to hear about personal experiences and lessons learned.
WESTERLING
I’m just learning about the ForEx and I’d like to hear about personal experiences and lessons learned.
WESTERLING
trade in the direction of the trend
write a trading plan and follow it
trade with stops and manage trade by moving stops
trade only new, larger trends
understand parallel and inverse analysis
understand support and resistance
if you have a substantial profit close out half of your lots and let the rest ride with breakeven stop (playing with the houses money)
good trading
mark mc donnell
The drawdowns will kill you should be able to happen 95 of fx traders fail make nice living even if 50 of fx traders fail make nice living even if 50 of your trades are the drawdowns will kill you have an entry and exit stradegy before getting in position sizing are the most important tools.
An entry and exit stradegy before getting in position sizing are your trades are.
The drawdowns will kill you should be able to be able to happen 95 of fx traders fail make plan and exit stradegy before getting in position never do something because you think know or want something because you.