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Forex trading rules and tips

1. Calculate advancing factor for each instrument. Be ready to major factor change.

2. Every day make a list of the bear and bull factors for each instrument. If you can constitute the list only the bull factors, monitor occurrence of bear as it is obligatory to do, and they can develop the market.

3. Increase the objective information of the market and limit a stream of personal opinions.

4. Never allow the big successful trade to turn to loss. Stop, if the market has given on 20 % from a point of your maximum profit.

5. You should have a trade program, you should know the program of trade, and you should follow the trade program.

6. It is impossible to know all about everything; therefore the speculator constantly is in danger.

7. It is necessary for the profitable transaction four things: the knowledge, courage constrained discipline, money and energy correctly to unite first three.

8. Expect and accept loss with gratitude. The one, who goes in cycles in losses, as a rule, passes the following chance to win.

9. The appendix of the organized effort is a unique originally necessary component to gain money by means of money and to keep them.

10. If you don’t progress, you are rolled away back. As soon as you have reached the trading purpose, it is important, that you have immediately established the new purpose of trade.

11. If you are distracted by set of trading possibilities, think of specialization. Intensity ennobles and transforms heroic into great.

12. Concentration art will help you to become the great trader. In other words, divide time for thinking, planning, understanding, investigating, analyzing, and estimating and carefully carry out the transactions.

13. Halve the profit. Never risk more than 50 % of the profit in the market.

14. A key to successful trade is knowledge and personal level of shipping of stress.

15. The true difference between winners and losers is not so much natural gift, how many ability to accustom not to make errors.

16. The greatest risk of trade is in an exclusive hope on intuition. Never substitute the facts for hopes. More from everything that you can lose is a self-trust.

17. Nobody can show for long time good results in the boots beaten to a floor. In trading is the same as in fencing, be fast, or die.

18. Remember Mark Twain: “Only 10 % of people think. 10 % think that they think. The others 80 % are more likely ready to die, than to start to think”.

19. Run from the news informed in secret, as from a plague. Consider the distributor obviously incompetent or ill-intentioned.

People who took the decision to participate in forex trading should start from learning the basics of this market to make sure you do not have problems with this industry.

There is another option – you can hire experienced traders to managed your trading account – read more about forex investment here. Also make sure to search for the knowledge in a good forex book.