Most Important Thing To Note In Forex Trading

[moonchild]

The most important thing to note in trading is safeguarding your account, when you lose your account you won't be able to trade till you refund.

Safeguarding account can take many faces, from trading with a moderate lot that you know you can take drawdown when they occur, don't open a trade with a big lot size because you think it can go your way, trading is not gambling, it is about analyzing a market and then taking a shot with a back up plan for when it didn't go your way.

You can also safeguard your account by only entering high probability trades, in a day there are hundreds of fake signals on the chart, there are a lot of signals that will occur to lure the impatient trader, if you ask experienced traders they'll tell you that they spend most of their time sitting on their hands waiting for the right signal to strike, they don't jump on any signal that the chart throws at them.

When you adhere to these rules, you'll be able to trade with your account for a long time and make profit without blowing it and starting from scratch all over again.

 

[Jack Reacher]

Well, I must say using regulated Forex broker is such an important aspect here! If you are using a non-regulated FX broker, then surely you are in danger! This is why, I rely on regulated top rated Forex broker Eurotrader; here I get 100% fund security; besides I have friendly trading environment for scalping trading!

 

[Finger Geek]

in a day there are hundreds of fake signals on the chart

Fake signals? Is there really fake signals? There is no fake signals. Signals are not something that occurs and you call it signals. They are gotten from what strategy we use. For us to see a signal, we just have to use a startegy using some tools like moving average, candle sticks and many more. It is your set up that is called signal. So how can it be take, because it will only work as you have set it up. The only thing that can happen is that the signal might not be reliable because there are times that they don't work as we want them to.

Like one of a signal is using candle stick and 4 hours timeframe. In this, we will have to count 4 candles either red or green. If we can't 3 red continues res candle, then we will go for sell but if it is green, we will also go for buy. But there are some times that is not work like that and lose our money. We can't say that the signal is fake but it failed us or we say that it is nit strong.

 

[Asahi]

Prioritize both technical and fundamental analyses for the betterment of your trading. Traders should earn knack in how to use technical tools properly.Every decision should be prepared with a valid reasoning and you can do so when you have good trading experience. Eurotrader offers more than 200 technical tools for market analysis.