Back to the basics (Technical Trading)

[githurai]

You can be the most profitable trader in the world if you stuck to these simple rules:

Trade 1 pair per $100
One trade at a time, per $100
Risk only 2-3 % of your account, per pair
Wait for the right set up
Avoid tight stops
Stick to your plan, even when facing a loss
Set a trailing stop when prices near your first TP level, and delete that TP level

Just keep in mind, the more pairs you trade, the more mistakes you make. If your winrate is 60%, it mean at a risk:reward ratio of 1:1 you win every 6 of 10 trades. So, you lose 4 times, yes? So imagine, you're "cards" are set in such a way that you're sure you'll lose only 4 trades in 10 trades everyday. The only problem is that you don't know in which order your loses with come. So, you trade EURUSD and get 4 loses, trade NZDUSD and get 4 loses., trade USDJPY and get 4 loses. Then as soon as you hit margin call, all the trades go as you had predicted them. What would you blame that on?

 

[Shallen Berry]

For the trades who are particularly newcomers, yes, Forex trading is difficult. A lot of hard work, perseverance and practice are necessary to trade like a professional and to keep your trade profitable. I decide to join at ForexOne because this is a highly liquid trading platform with offering vast trading facilities including various trading courses on free of cost. At their demo account I practice a lot and that’s how I gathered good trading knowledge.

 

[Robert Hills]

Education is a must thing for forex trading. A trader should complete his education before starting his trade. Otherwise it can be dangerous. He can loss all his capital because of little knowledge. To complete his education there is only one better way and this is to open a demo account. It will help the trader to know all the important techniques easily. When I was new, I also opened a demo account of TP Global FX to take the education of forex. They helped me to understand the forex. For their easy trading policy and easy learning method, I am still trading with them.