Forex trading tips

  • Never Trade on a Fundamental News day unless you understand the effect that the news will have on the currency pair you trade
  • Research, Research, Research what, how and when the Fundamental News event
  • Be prepared to Not Trade as much as To Trade!
  • Never risk anymore than 3% of your capital, if your bank or broker has your leverage too high then change the account to one where you can trade at these levels – remember the object is to
    live to trade another day if a trade goes against you!
  • Define the Trend
  • Define the Exhaustion point of that Trend
  • Define the point of Entry
  • Define the point of Exit
  • Never panic
  • Never become emotional


Want your account Managed ?

Our partners manage trading accounts with over 20 years of experience. Established Equities, Forex, CFD, and Spread Bet Fund Manager. Managed Forex account for traders who prefer to have
their funds managed by an experienced trading professional. For new traders or traders who would like to trade the Forex market but don’t have to time to monitor it. Personally-managed accounts
are provided for both institutions and experienced investors under a power of attorney. Fully regulated (UK). Please get in touch via the contact page for more details.
Account deposits should be no less than $50,000 to unlimited amount.


Here are the 10 mistakes traders make:

  • Mistake #1: Trading without education or training.
  • Mistake #2: Allowing emotions to influence your trading decisions.
  • Mistake #3: Failing to realize that trading has little to do with luck.
  • Mistake #4: Thinking that losing is bad when trading.
  • Mistake #5: Neglecting to recognize that learning to trade is an unending process.
  • Mistake #6: Trading without checking the daily news
  • Mistake #7: Trading with the wrong attitude
  • Mistake #8: Trading on Friday or the end of the month
  • Mistake #9: Trading in choppy markets
  • Mistake #10: Not respecting the Forex market and gambling


Trading Psychology

When it comes to trading, the most important thing to keep in mind is self-discipline. This is crucial as both profits and losses can be enormous in this market. More than three trillion dollars exchanges
hands in this market daily. It is possible to profit from this exchange of currencies, if you are able to control three critical emotions that frequently tend to lead to clouded judgment and often result in
lost profits. Those emotions are, “Greed” “Fear” and “Hope”. Given a proper investment strategy, the Forex market makes it possible to earn a tidy profit. With that said, greed always comes into play
in any human effort and this is no less true when it comes to investing. Greed results in one of the oldest problems in investing over trading. Whenever a trader engages in over trading, there is
tremendous potential to risk far too much, hold a good position for too long or enter the market too late and find oneself in a losing position. Greed can also quickly cloud one’s judgment; perhaps
faster than anything else. Homework and self-discipline; however, can help you to keep both your focus as well as your profits.


USEFUL LINK

The London FX Trading Club has been created for industry experts and professional traders to share their experience of the financial Markets and meet with other like minded individuals and
businesses.

Register for your membership today – simply enter your name and email address in the form on the home page and you can join the ever growing network of professional FX Traders. There are
many ways to connect with the LFX community, choose between Meet up, Twitter, Linkedin or the LFX Club Website. Full details of each event are published via our Meet-up page!
http://www.
lfxtradingclub.co.uk/
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