Planning Your Forex Trades
- Trade on average unit sizes; increase the number of units to some extent when you currency is on almost sure upward move and decrease the number when opposite happens.
- Know your position and never predict any thing; in other words respect the unpredictability.
- Exit trades when you feel uncertain; it is always the wise decision to save your money.
- Look for consistency; it is good to analyze your success by taking days or weeks as unit, never individual trades.
- Never add daily episodes to your failures; it is better to stay off when you are getting troubles in a row.
- Be loyal to your trading style; scalping, day trading, investing, swing trading, etc; overlapping simply means confusion and loss.
- Never be disappointed; celebrate all your victories and learn lessons from your failures. Success is sweetest when it comes after many failures.
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