3 Reminders for Forex Success 3

Forex trading can work for or against you in an instant. Having suffered 3 margin calls previously probably makes me an expert on how it can work against. 😂

Thankfully we can lower our failure rate if we can simply remember these 3 points.

  1. Always practice proper money management. No one has a 100% rate of success in forex. The idea is to survive long enough to understand the market. Risk 50% and you need 200% to recover in the event of a loss. Risk 5% and you need just slightly above 5% to recover. The mathematics is clear.
  2. Be aware of major events. Forex is highly sentimental. If you are trading with leverage ( almost all retail forex traders are ), any losses will be magnified. One major event in the wrong direction may wipe up your position.
  3. Enter a position with an end in mind. At what price would you deem a success or a failure? Take profit and stop loss levels are not ambiguous feelings but rather a predetermined figure according to your conviction. A structured approach to forex trading allows you to review your performance systematically.

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  • Sammy

    thanks for the tip

  • Imi Translator

    They are really really perfect information about trading. In our culture there is a phrase regarding these valuable info. it says” we have to write these ideas with gold every where”

    • Nice! Do drop by often to visit this old naggy koala ! Haha