“Trade safely” , simple: don’t trade.
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the best way to trade safely is to apply stop loss when needed and be fully aware of forex trading
I believe that learning the fundamentals of trading is the key to trading safely.
fix your mind to stick to fewer strategies if you already know the fundamentals. take small risks for bigger jump and slightly big risk for scalping. Market is going crazy nowadays guys, make sure you keep a sharp eye on the world news.
Trading is very hard and very risky if you take low probability trades with a narrow optimum entry window, restricted allowance for volatility and under tight self-imposed time deadlines.
First time I came across this discussion. It seems the OP, Rambo35, is MIA, since the last time he was “seen” was in Aug. 2017. An FX-Men Honorary Member is absent for over 6 years. Hmm, I wonder if he is OK?
Definitely. Technical and fundamental analysis are essential in trading, as we can only improve our skills when we understand the basics. With these basics we can trade safely because we would know what to do.
There is nothing like safe trading in forex. At every step their is some or other kind of risk associated.
When you trade with money you can afford to lose, trading is safe.
Trading is extremely risky so you can’t be completely safe but yes minimising the risk is possible if you have set your target profit and stop loss.
That’s not enough though, do the maths and make sure that your profit is greater than the loss and trading costs.
There is no such thing as safe trading, you will have to take risks. Yes, there is stop loss that you can use, but even then, you are going to lose a certain amount. Risk is part of the game, sometimes it pays off while on other occasions it doesn’t. Those who want to play safe should keep their money in the bank. It’ll be safe there but won’t grow.
I would say that stop loss is the safety net for every trader! You must have seen those safety nets for circus performers. The net is there to protect them in case they fall. But falling cannot be avoided. It is a part of their job. Similarly losing some money in the process is a part of our job as traders. In our case, a stop loss will protect us when the trade goes against us. Also the safety net is not limited to stop loss. It is also connected with your position size, risk per trade and even your own psychology. The risk can never be fully avoided but we can only make sure that safety net is strong enough to support us whenever we fall. I compared trading to circus because both are an act of balancing and takes years of practice to master😂
I think trading should be more about grip of skills and saving capital rather than losing it.
- Avoid Overtrading.
- Always use a stop loss.
- Follow a plan.
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Following the money management plan is my main strength! I believe, if a trader follows the MM rules so tightly, so there is no concern!
In my opinion, using stop loss is important in order to minimize the risk exposure.
Yes, I always use stop loss while trading, this helps me to focus and even protects any unusual risk.
Gathering knowledge is the best practice; most of the pro traders are enjoying their time because of having deep knowledge here!
But how that relates to trade safely?
Hi, I’m new here. Is the topic still actual?