Another important factor is to set a precise set of rule to control your actions when the market does not react as expected.Just like any trading system, the guidelines to combat a negative market must be simple enough to remember and execute. These guidelines must apply to a variety of scenarios and must be designed to compensate for the individuals weaknesses and inadequacies.In order to achieve long term success, they must be formulated to help in maintain discipline on a daily basis and offer timely memory aid in difficulty situations.
Here are some of the tips
1. Learn to limit your losses
Successful forex trading is more about avoiding losses than making profits. While avoiding losses, one protects from the drawdown that affect your existing account capital. Other ways of avoiding unexpected loss is by using predetermined stop loss level. A more advanced method is using trail…