Online Forex Trading in 2009
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The Dos & The Don’ts in 2009
What to Do in Online Forex Trading in 2009
1. Stick to the Forex Trading System that has proven to be profitable to you. It is not advisable to change your Forex Trading System just because other traders are saying that yours is comparatively less profitable.
2. Strict Control of your Funds with a Sound Money Management. Adhere to the Principles of Money Management as this will avoid a overtrading situation or the Risks of Margin Calls.
3. Always be contented with your Profits.
4. Apply or Put a Stop Loss for all your Trades. Unexpected things can happen - A Failure of your Internet Connection.
5. Take Profit at Reasonable Levels. Don’t be Greedy.
6. Check out for Forex News before trading.
7. Study and Analyze your Charts, Follow your Charts. Trust your Indicators. Indicators don’t have Emotions and Don’t Tell Lies.
8. Keep Cool, Control your Emotions. Take a Rest if you have charted two straight losses.
9. Do Apply Sound Judgments when necessary.
What Not to Do in Online Forex Trading in 2009
1. If you are a Compulsive Gambler, Do Not open a Forex Trading Account.
2. Do Not Speculate.
3. Forex Trading is very Risky Business but Do Not take Uncalculated Risks. Stick to your Profit Risks Ratio.
4. Do Not Overtrade. Apply strict Money Management Control.
5. Do Not be Greedy. Greed is the most Evil attitude in Forex Trading. Always remember that a Bird in Hand is Better than Two in the Bush.
6. Do Not let your Emotions to Override you in your Decision Making.
7. Do Not go Against the Trend. It’s Suicidal.
8. Do Not Trade in Currency Pairs you are Not Familiar with.
9. Do Not Listen to Rumors.
10. Do Not Try New Methods or Techniques with Real Forex Trading Accounts.
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Comments
14 Responses to “Online Forex Trading in 2009”
NIce info.
Great write up you have there, explained what online forex trading is in a nutshell and also the various factors that influences the exchange rates in the forex. Keep the great posts comin!
These are some really great suggestions. Thanks for the heads up.
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Great suggestions. I am presently planning to write one article in my blog about forex trading. Why don’t you write one to my blog as a guest article with enough appreciation to your blog?
I really appreciate the same. Please inform if you willing.
Sherin
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Very informative lists. Happy 2009 to you.
very informatif and usefull for me.. thanks my friend
zacky’s last blog post..Why trade in foreign currency exchange market?
Great list and sound advice. I especially love “If you are a Compulsive Gambler, Do Not open a Forex Trading Account.”! LOL!
The Forex market is a non-stop cash market where currencies of nations are traded, typically via brokers.
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I love your blog, it helped me to fix my finances. Thank you.
Thanks.
Hey, now those are some great tips. I’ve been trading forex for 6 years, and only in the last year have become profitable - those tips are very useful!
Great common sense tips. The more one sticks to a system and not give in to the greed aspect, the better chance of being successful trading forex
Dan’s last blog post..Forex Trading: Making Money Using Forex Robots
Great info. Forex is much better than the standard stocks markets.