Trading Tips (Forex Trading)

I am currently trade Forex only, and on AGEA.

Only small, consistent profits can lead to long-term success.

Remember: the other side of the Take-Proft is the Stop-Loss, which is also very important in money management.

Risk-reward ratio of at least 1:3

Putting a small amount of money into each trade and determining the maximum amount of loss that you can accept will keep losses within reasonable limits and put you in a favorable capital position for the long term.

  1. In an up market you can find retracement levels and buying at the correct retracement level will usually make you profitable.
  2. Shorting at resistance levels when the market is in a downtrend. The momentum of going short after a big market move is good for profits.

Develop a process-oriented mindset. This means taking the focus off of profitable and losing results and focusing only on whether you are making the best decisions and executing your trades best.

The phone only closes positions

The phone only closes positions, not places orders.

Problems to avoid:

  • expectations are too large, rich heart serious
  • heavy positions
  • frequent trading
  • do not set a stop loss
  • No plan, random entry
  • No control, can’t stick to prior commitments
  • no trading diary

Trading with the trend: never buy and sell against the market

Trading objects: only do single-sided market, not consolidation – unfamiliar varieties of single-sided market, better than familiar varieties of consolidation market
Keep profit: If the short-term account is too profitable, either use the time to grind, a short time not to trade; or open another account or take away the profit

Stop loss: stop-loss orders are irrevocable

Increase the size: If the previous single is not profitable, can not increase the size; increase the size should be placed after breaking the consolidation area to carry out


Translated with www.DeepL.com/Translator (free version)

Emphasize that:

  • 1. safety of funds is the first priority, sustainability is more important than anything else
  • 2. re-emphasize the stop-loss and place a stop-loss not to undo it. 
  • 3. to have close stop-loss orders to protect your profits after they have been made.
  • 4. you just have to do the right thing and stay with the market and the profits will roll in since; but if you look in the wrong direction, don’t be afraid, you have stop-loss protection.
  • 5. health is wealth.

After suffering a major loss, it is important to cut back on trading, and more importantly, after trading for profit, it is also important to adopt a strategy of cutting back.