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Online Forex Market Tips to follow to make money

Posted By On 9/07/2008 04:49:00 PM Under

We are enumerating below a few forex market tips which can help one graduate to this market in a slow and steady manner.
1. Read books by Mark Douglas regarding trading psychology.
2. Effectively use stop loss.
3. Stick to written trading plan.
4. Learn to trade with trend and as a day trader keep an eye on hourly trend of the market. Do remember to keep an eye on 80 SMA on 15 minute chart to determine change in trend.
5. Learn not to trade when market is telling not to trade. No trade is better than a losing trade. If feeling jittery just walk away from the scene.
6. Be realistic in life and do not set false targets and exorbitant expectations.
7. if a trade goes against you cut your losses as market is not your friend in a trade which is not favoring you.
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