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Forex Trading Tips - Basic knowledge

#Basic Knowledge - *Most important* When starting forex trading currency on the net, it is an absolute that you must understand at the basics. Once you grasp the basic concept then you can move forward. For learning the basic trade you can look at basic trading page #Independence + Confident Before opening any trade don't get too much information... if you try and get too much information from many sources this will make you confuse and as the result only losses trade. Look at your chart and analyze what has happened, after you make some analysis take a position based on your plan, ride with it. Be independent and confident. #Don't Greedy or Over Confident Once you have a profits, manage this profits and don't get greedy or over confident and want to make more money by increase your trading lot. Some rookies get greedy and this destroys not just the profits, but also initial deposit. Only increase depending on your experience and success. #Trade When It's Time Market trading open 24 hour a day and divide into many session, trade the market in your best time. Avoid the trade when you're not in good mood and have some rest. #Exiting Trades If you place a trade and it's not working out for you, get out of there and cut your loss. Don't multiply your mistake by staying in for hopes for a reversal. That is very unlikely to happen. On the other side if you are winning a trade don't pull back because of the stress levels. You must learn to tolerate the stress, it is natural to trading, you must get used to it. Always set SL (stop loss) and TP (take profits) each time you open posisition, and don't ever trade without SL except you're always in front computer and monitoring the trading. #Build Your Experience Learn the business before you trade. Knowledge is power when coming to trading. Try in demo before you go real. Treat your demo trade as a real account, if you success in demo you'll succes in real trade. Because of that, never trade real money before you able to win in demo trade. Try demo trading with your system at least for 1 or 2 month. if you able to make consistent profits, you're ready to make real money from the market. If your equity still up down and not grow, keep learning and don't waste your money on the field you don't well undestand. Experience is the best mentor and guru on the worlds.

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