Posted by forex at 4:38 AM
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Making Long Term Money Trading The Forex Market
1. Watch your position size. The currency market fluctuates continually. This volatility means that your profits and losses can change quickly. Long-term Forex traders make sure only a safe portion of their portfolio is in any one position.
2. Use leverage sparingly. Leveraging can increase your profits dramatically, but It can easily wipe out a trade just as easily as it can multiply profits.
3. Set a stop loss. This will automatically end a trade if the loss that you deem is too great.
4. Leave emotion behind. If you expect to trade Forex for an extended period of time, don't let emotions like greed, fear, and pride affect your trading discipline.