Phabbyfundz
Active member
— never risk all you money in one transaction. Experienced pros typically recommend diversifying your risk by spreading out around 5% of your total deposit per trade.
— start slow at first, so that you can build both experience and confidence in trading. You can always increase the leverage and profit as you learn the in and outs of forex.
— set up a stop loss order, which tells your broker to sell a currency if it hits a certain price. While its great to think positive and trust your trading strategy to open trades, it is just as important to consider the worst scenario and determine how much you are comfortable losing on each trade.
— the leverage available on positions carried over the weekend may vary. for trades left open over the weekend make sure your margin is sufficient to avoid a margin closeout.
— start slow at first, so that you can build both experience and confidence in trading. You can always increase the leverage and profit as you learn the in and outs of forex.
— set up a stop loss order, which tells your broker to sell a currency if it hits a certain price. While its great to think positive and trust your trading strategy to open trades, it is just as important to consider the worst scenario and determine how much you are comfortable losing on each trade.
— the leverage available on positions carried over the weekend may vary. for trades left open over the weekend make sure your margin is sufficient to avoid a margin closeout.