Do not over trade.Never Risk More Than 2% per TradeNever risk more than 2% per trade.It is most violated rule by new traders.You must also set your daily loss limit.Some brokers like dukascopy has account protection system where you can set your loss limit.This will close all your open positions once the limit is breached.Once you have lost your daily limit stop trading for rest of the day.Go out relax.Remember there is always another opportunity in the forex market.Never Let a Win Turn Into a LossAlways use STOP LOSS.Using trailing stop is a good habit.Another method of locking in gains involves trading more than positions having different take profit levels.Say one level is 25 pips and another is 50 pips.It is always a good idea to use trailing stop.Enter Fundamentally and Exit TechnicallyBoth methods are important and can impact price action.We must understand the benefit of each and when to use them. Fundamental analysis are good to analyze the broad themes in the market, while technical analysis are useful for identifying entry and exit levels.Be patient,Do not hurryIn forex,,right timing plays a crucial role.Even if your analysis is right but you open a position in wrong time…
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