Major points to remember before entering in forex trading

Beginner Questions
1

1.First trade with demo account

  1. Don’t trade without stoploss and Target

3 backtest your strategy in demo account

4 Don’t try to earn huge return on initial days ,try to earn minimum 5-10% monthly

5 . If u can earn 1$ daily you can earn 100$ daily by just increase principal amount and lot size

6 don’t trade blindly by seeing charts candle

7 you can’t skip loss in trading,loss is part of trading

8 In trading there is net profit which is ( profit - loss)

9 don’t follow tips and suggestions from anyone

My english is bad so correct me if there is mistake here

2

Also, never risk more than you can afford to lose

3

Great points! Thanks for sharing

4

Before entering forex trading, remember to start with a demo account and always use stop-loss and target levels. Backtest your strategy to refine it. Aim for consistent, modest returns of 5-10% monthly, and accept that losses are part of trading. Finally, avoid blindly following tips; trust your own analysis.

5

These are great pointers, thanks for sharing. I always try to keep this one in mind - If you still have doubt in your mind, then you are not ready to trade.
Don’t worry about your english, @varun89 , it is fine.

6

I always remind myself to understand the basics of the market and set clear trading goals. It’s also imp to develop a solid trading plan that includes risk management strategies to keep my emotions in check and maintain discipline.

7

Thanks for sharing these. They cover some important basics for new traders. Your English is fine, no worries about that.