When trading, you need to avoid big risks first of all. You need to trade a small lot and use a stop loss. You also need to not try to make up for losses here and now, but wait for the next trading signals from your trading strategy.
Keeping track of your trades is essential for learning and improvement. Maintain a trading journal to analyze successes and mistakes.
Beginners should also avoid trading on news. After all, during the period of publication of important news, great volatility may arise in the market, during which the price can impulse move in any direction. It is better to wait until the market calms down and only then look for entry points according to your strategy.
Set some rules and don’t break them no matter what
Always avoid being emotional in forex and also obey the trading rules you will be a successful trader quickly.
You also need to avoid constantly being in the market or overtrading. After all, many people want to earn more money during the day, they set themselves some unrealistic plans, and this only contributes to fatigue and frequent mistakes on this basis.
1 Like