I wanted to take the time to share with you some of my free forex trading strategies. The thing about forex is that it is hard to learn. It's something that you need to experience. I've learned a lot from trial and error. I've had plenty of bad trades, but I've learned from each of them. I've grown as a trader and that is the real key to success. This market is big with over three trillion dollars being traded each day, but you can't let that break your focus. Fundamentals are what you need to follow to be successful. This is why I'm going to share with you my free forex trading strategies.
The first thing to understand is that a stop-loss is extremely important. The idea that you can objectively stop a trade when there is a need for it, is sort of over confident. In the middle of a trade, it's hard to say what will happen. I've been in the situations thinking to myself, "if I trade now, it'll probably go back up". The reality is that you can't make an effective stop-loss decision while in the middle of the trade. Try setting up a stop-loss point right before you make the trade. This way you don't have to make a decision in the heat of the moment.
Another one of my free forex trading strategies is about execution. A lot of us get stuck in that analysis phase. It's important to analyze, but there's point where you're just doing it too much. Sometimes you need to make a move and that's what I try to help people with. Go over the data in front of you once or twice, than make a move.
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1 comment:
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