The negative aspect of Forex trading in that there is a lot of risk involved, but the risk is even larger if you don’t understand foreign exchange trading. This article contains a number of tips that will help you trade safely.
You should never trade based on your feelings. Trades based on anything less than intelligence and intuition are reckless. Making your emotions your primary motivator for important trading decisions is unlikely to yield long term success in the markets.
Choose a single currency pair and then spend time learning about that pair. If you attempt to learn about the entire system of forex including all currency pairings, you won’t have enough time to trade.
You should never trade under pressure and feeling emotional.
Avoid moving stop losses, since … Read the rest