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Page Navigation Home Column Rules of FX Trading. How to become a winner? Change your thinking patterns and set your goals Is Forex trading a profession or vocation? Adherents of fundamental analysis Adherents of technical analysis Those using their own methods of analysis Relying on intuition 10 Golden Rules of Successful Forex Trading Today more and more people wonder: what is the recipe of successful trading?

How can one achieve the best results in trading in the financial markets? Finance presents for your attention 10 golden rules of successful trading. See the list of online Forex and CFD brokers Forex Trading — 10 Golden Rules 1. Be prepared to accept losses. You have to understand that anybody can lose money in the financial markets. Of course, your profit has to exceed your losses. You have to do your best to achieve this balance. Trade following a definite plan or strategy. Before trading you have to decide the amount of money you wish to trade and what profit you are hoping to achieve?

Having achieved the result you want, withdraw your profit immediately. When trading is successful, novice traders often forget about their set targets and erroneously hope that successful trading will go on. Always close loss-making orders. If you suffer losses, close the order immediately and leave the market. Cold math and nothing else. Learn how to control your emotions.

Trends are the most important thing. Your profit will continuously grow if you follow trends. A correct entry point is the basis of success. Always analyze beforehand how you will trade. You need to have a clear understanding of an entry point, profit fixing levels etc. Trade without losses. Manage to keep the profit you made.

Withdraw the profit and close the orders in time without excessive sentiment. Knowledge is light. This is because his RRR is always many times more than the risk he takes. The most common misconception among new traders is that they have to constantly be in the market. Over-trading is a problem caused by a number of different catalysts, however, the main challenge comes from not knowing what your real strategy is, and not being disciplined enough to follow it.

Overtrading, directly or indirectly, has the potential for a huge loss though it may result in huge profits too. Skip to content Top 10 Golden Forex Trading Rules. Contents hide. Always use a trading plan. Don't forget to share this post! Share on facebook. Share on twitter. Share on linkedin. Subscribe to our website. Home Service Expand child menu Expand. Education Expand child menu Expand.

Consistency is key when it comes to trading and there are no shortcuts you can take to start turning a profit. All the most successful traders will have cut their teeth using a demo account — and you would be wise to follow in their footsteps, as well.

Ultimately, this is a recipe for disaster and you could take some serious hits as a result, or potentially miss out on some lucrative opportunities.

Your analysis is the one that matters, so try to avoid being steered by outside influences. Risk management is one of the most important lessons that any trader can learn and it should always be positioned at the very heart of your trading plan. The first rule of risk management is to work out what the odds are of your trade being successful.

Remember — if your losses would be too substantial for you to handle, avoid the trade at all costs. And, as we all know, an emotional trader is a trader in trouble. Bad days are sure to happen to each and every trader and losses are inevitable, so avoid investing everything you have and putting all your eggs in one basket.

Never forget — bad trades can and will happen. You need to accept this reality before you start your trading career, or you could find your emotional health and wellbeing really takes a beating , alongside your bank account. The key to future success will be in how you handle the bad days. If you give yourself a hard time when faced with failure, you can start to lose confidence in yourself and this could then have an impact on how you trade, creating a vicious cycle of loss and emotional abuse.

Organisation is key and a diary of sorts will help you keep your thinking clear. Yes, trading is a business and it can be a very lucrative one, but if you start taking it too seriously and forget to enjoy yourself, you could see yourself taking on more losses and making more dubious decisions, all in the pursuit of money. There are all sorts of ways you can have fun while trading, everything from joining forums to chat to like-minded people and taking regular breaks to refresh your approach to watching market-inspired movies or reading books on the topic.

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Forex markets can be volatile and uncertain at the best of times, and inexperienced traders can easily end up chasing their losses. Yet it is precisely this volatility that gives you the potential for major profits. These 10 rules of forex trading may give you the best chance of landing on the winning side.

Please remember, however, that trading carries a high level of risk to your capital and profit is not guaranteed. There is no forex trading software that can assure you of winning trades. If there was, why would anyone sell it? A demo trading account can help you improve your trading skills with virtual trades on real markets. Of course you should always remember that your performance on a demo account may not be replicated a live trading account.

Whenever real money is changing hands, the risk of loss is ever-present. Therefore you should base your trades on considered tactics and strategies. To avoid being led by your emotions stay focused on technical and fundamental factors and market news at all times. Knowledge is power — we all know that. Ensure that your forex provider gives you access to tutorials, webinars, expert financial analysis and commentary, an economic calendar, graphs and charts, and even forex trading signals.

All of these tools will work to improve your trading performance. The ultimate goal is to generate greater profits than losses over time, even if you have less winning trades than losing trades. No forex trading system guarantees success see rule 1 but some may be used as reliable guides. If you learn from the experience of successful forex strategists, your likelihood of success is far greater.

But remember, when judging the results of any system or any expert, that past performance is not a reliable indicator of future results. The forex markets can change on a dime, as currency markets are often characterised by high volatility.

If you have generated winning trades, be sure to manage your profits. Use stop-loss and limit orders, close out positions, and hedge your exposure to the best of your ability.

Be sure that you are in control of your capital at all times. This is one of the most crucial aspects of forex trading. Doing so puts you at significant risk of loss. If you spread your investments over a wide number of trades, you limit your overall losses by not putting all your proverbial eggs into one basket!

We are going through a period now where USD is a strong global currency. With a Fed rate hike looming, you may want to back USD against emerging-market currencies. Use your common sense when judging the effect of current and upcoming events. Risk protection varies from one trader to the next. However, you can limit your risk by managing your capital wisely, limiting the amount you trade per position, using forex trading signals, trading with greater knowledge, hedging your trades, and using specific technical strategies.

Your key risk protection tool is always your Stop Loss order. Remember, however, that stops are not guaranteed and you can lose more than your initial deposit. Leverage allows you to increase the size of trade you can control with your investment capital. It magnifies your profits but it can also magnify your losses. By following these 10 golden rules to forex trading, you should find yourself in a much better position over the long term. Your focus should always be on trading currency pairs that you understand, in a way that does not expose you to too much risk.

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is not investment advice. The information provided is believed to be accurate at the date the information is produced. When you are analysing stocks, multiple variables come into play. One of the most important concepts to understand in read more.

There is no such thing as certainty in trading. However, there are some assets investors typically move to Some trades become the stuff of legend. Here are seven of the most audacious trades ever. The Great by Shafiq Shabir Head of Electronic Trading, Intertrader Traders have tended to pick a side in the debate between technical and Spread betting is an efficient way to trade on the price movement of a wide range of financial assets, Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

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Back to Blog. The 10 golden rules of forex trading Trading Strategies forex , leverage , risk management. Forex trading can be highly stressful — avoid emotional trading Whenever real money is changing hands, the risk of loss is ever-present.

Invest in a solid forex education Knowledge is power — we all know that. You can learn to trade forex successfully No forex trading system guarantees success see rule 1 but some may be used as reliable guides. Manage your forex capital wisely The forex markets can change on a dime, as currency markets are often characterised by high volatility.

Manage your investment-per-trade wisely This is one of the most crucial aspects of forex trading. Ensure you use risk protection strategies at all times Risk protection varies from one trader to the next.

Be especially cautious about overextending yourself with leverage Leverage allows you to increase the size of trade you can control with your investment capital. The bottom line By following these 10 golden rules to forex trading, you should find yourself in a much better position over the long term. Published: 25 November You should under no circumstances consider the information and comments provided as an offer or solicitation to invest.

Related Posts 30 Jul July 30, com Customer care: Monday to Friday 24 hours a day. Why spread betting? Why trading CFDs?

Another key rule in the forex business is to always control emotions. Why spread betting? Looking for a funded trading account? You have to do your best to achieve this balance. Trade following a definite plan or strategy. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".

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