1. Trading Forex with Narrow Spreads
When trading Forex, you place an order that means you already lost the spread, for example, you buy Euro at this spread 1.2880/1.2886, you buy in price is 1.2886 where Forex market accepted sell at 1.2880, that means you lost 6 pips. Many online broker now provide on 0.6 pips spreads, that means you winning probabilities is raised.
2. Trading Forex at Asian Market Time Slot
Asian market with less fluctuations, it is very easy to cover 0.6 pips spreads with 1-2 times price change, you can gain 10-20 pips per trade, and it also avoided the fast change at US market that easy make you lost.
3. Trading Forex with basic and simple strategy
Don’t rely on complicated technical analysis, they will just confuse you, simply trade with wave or simple move average cross signal, may be RSI is enough.
4. Trading Forex Online with Telephone Support
Most broker provide fast and reliable trading platforms to customers, however, nobody can guaranteed the internet connections, both yours and brokers, trade with telephone support broker can let you liquidate your open orders during Internet Fail.
5. Trading Forex with brokers agreed zero stop
Zero stop means your opening order will force liquidate when your margin is sufficient, zero stop will protect your balance not become negative in fast market movement.
6. Trading Forex with daily limit
Set up daily trade limit, no matter win or lost can protect your capital away from losing by over trading.
7. Trading Forex with discipline
Always and always set the stop and limit orders when you place a new opening order, this can let you avoid lost when you left your computer.
8. Trading Forex with senses
The more news you read, you can smell more from market, so always keep your eyes at REUTER, BLOOMBERG etc.
9. Trading Forex with your FREE MONEY only
If you trading at very tight financial situation, such as use your rent, or loan from bank, it will make you very nervous and always make wrong decisions and over trade
10. Close all your positions before rest
Forex trading market is a 24 hours market, when your preset trading time is end, remember close all your opening positions to avoid nervously thinking about the market and do not have a good rest.