What you should avoid/be aware of in trading Forex
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  1. #1
    Join Date
    Mar 2007
    Posts
    281

    Default What you should avoid/be aware of in trading Forex

    i just think that the most important thing to success in forex is to learn what to avoid or be aware of in trading forex and then you have better chance to be successfull in it!!!

    this thread is for us newbies and i`ll be pleased if those who fail post here what the newbies should avoid or be aware of in trading forex.

    thanks

  2. #2
    Join Date
    Mar 2007
    Posts
    281
    i believe there is many of you who had some nightmare in forex.
    my worst nightmare and thing that i`ll never forget and will have always on my mind when i trade is to avoid entry when the price is in the highs maximum or lowest minimum especially when it`s creating new maximum or minimum.


    this position is very dangerous for either long or short entry and i`d rather be aware of.

    try to avoid it

  3. #3
    Join Date
    Mar 2014
    Location
    New Zeland
    Posts
    232
    It is right that in forex trading is a very serious business and in this business you need to learn what not to do very sharply. Things which u shouldn't do to keep your money safe in good opinion are

    01. Don't over-leverage your account

    02. Don't trade without a stoploss

    03. Don't trade without risk management plan

    04. Don't trade with the money which you cant afford to lose

  4. #4
    Join Date
    Mar 2013
    Location
    Niagara Falls Canada
    Posts
    1,577
    Avoid making decisions unless and/or until you have gathered enough relevant information and relevant options, so you can pick the least of the evils. Trading is about the decisions you make. The better your decision making, the better your chances to be successful long term. Most of the information you get will be opinions and not facts. Learn to take the time to decide that information before you, is fact or opinion.

    Avoid wasting your time to try and come up with something new. Highly unlikely, all most everything a human can conceive has already been thought of and tried, sometime before. Take the time to build a strong foundation of basics and practice, practice and practice it will be much easier to understand and adopt the more advanced information if you have a strong foundation of basics. My last and most favorite. Don't just except fish from other people, take the time to learn how to fish on your own. Good Luck
    Gp

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