Forex market is actually a battle field. You can win or lose in the forex market. It pays you to have a good strategy, discipline, money management, logical analysis and the right decisions.
Good strategy
Logical, good strategy is critical for you to survive in this battle. You have to be able to determine the right moment to entry and exit the market. Prepare for the worse; you have to have Plan B when price movement against you or it will kill you.
Discipline
Once you have your own strategy, then apply it and be discipline on use it. Entry the market when your strategy said so, and exit from the market when your strategy says so.
Money Management
This is important for you to get survive in this battle. Use only money where you can afford to lose. Consider that money management is important for long term of your trade.
Logical Analysis
Even currencies prices follow economic law:
High demands = Prices up
This pays you to trade using logical analysis and not wish.
Say, for example, my indicators give fake signals. Hence, I have to exit from the battle. I would rather lose in my stop lose than wish that the price will return over and then rob all my money.
Right Decisions
The rights decisions are not always make you win in the battle. It sometimes makes you to be a loser in some trades, but as a whole, it makes you to be a winner. The most important thing from this stage is how you learn from your lose and make your trade better and better.
| Original article by http://www.forexzeroloss.blogspot.com This Blog offers free tips and tricks, free simple but powerful zero loss forex trading strategies to make money online. Visit his site and learn how she makes 30 to 100 pips daily. |
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