Hi, I’ve been learning Forex for about a week now. I am going on this journey as a mother of 4 and my husband is also coming along with me. We are loving the whole thing so far, though I’ve had some setbacks already. I’m open to connect and network with anyone else who is going on this journey.
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Start here babypips.com/school. I have to tell you that it takes years to learn and finding your style. So don’t expect too much at first. Don’t quit either after months of disappointments. It’s all part of the journey. You can start here babypips.com/school. Also use demo accounts first. Don’t use real money yet.
Greetings! Welcome to the forum. Happy trading.
Thanks, but I have already started using real money. I have a strategy, trading plan, and I’m learning to become disciplined and be consistent. I’m a hands on learner and to not trade with emotions I couldn’t do it with a demo. I knew it wasn’t real money so it wasn’t helpful. Thanks for the welcome!
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Rule 1. Learn how not to lose money.
Rule 2 Cut losing trades early. Never nurse a losing trade.
Rule 3. Restrict your risk to <2% per trade, select a day’s maximum risk, and keep to it.
Rule 4. No more than two correlated pairs trading at one time.
Rule 5. Let winning trades run to your first profit target - move your S/L to breakeven, then add 50% new position. Most you can lose is half your original risk. Most you can win could cover your losers and more.
Rule 6. Treat every trade entry as a LOSER and let the market prove you wrong. This is a critical emotional control.
Rule 7. Never overtrade, revenge trade, or gamble.
Best of luck.