Today I would like to talk with you about a few very important rules of investing in the Forex market. If you follow these rules, you will most surely come out on the winning side in the long run.
Rule number 1 is never risk more money than you can afford to lose. No trader is perfect, you are going to have losing trades. There is no system you can learn that wins all the time. So expect to lose some money.
Rule number 2 is to cut your loses short and let your winners compound to greater gains. The secret to not losing your shirt is to use stop loss orders consistently and not let your emotions rule your trading. It’s better to lose a little and get out of a trade than to hope that things will turn around and suffer a devastating loss. If you are using the proper techniques and strategies on how to trade, you can usually tell right away if your trade is going in the right direction. If it’s not, get out of the trade. There are always more opportunities to get into the market and try again. So be a smart trader, not an emotional one.
Rule number 3 and probably the most important rule in trading Forex is to always use stop loss orders. ...
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