Trade management and Keep confidence
Trading Tools EURUSD GBPUSD Gold

25 Likes 1 Dislike 43 Replies
2 years ago

1. Look for straight to processing brokers  for  any market you like to trade e.g. Forex,gold,oil , index and cfds

2. Choose a type of accounts for beginners is recommended micro and mini 

3. Be careful of high leverage e.g. like 1/888   1/500   1/1000.  recommendation 1/50 1/100 and 1/200

4. Try trading demo account for 3 months  with margin that look and feels real . e,g $3000 to $5000 

5. Know your trading strategy 

6. Maintain your confidence  use limit orders and do not stare at the screen 24/7

7. Only take on loses that you can manage psychologically 

8. Maintain good profit to loss ratio e.g  3/1   for a $300 target  prepared to lose a $100

9. Do not over trade 

10. Only trade wen you identify good opportunities . you don't have to trade every day 

hope this helps you guys  feel free to comment and give suggestions.


Posted 1 year ago 0 Likes   0 Dislikes

@Old Tom 

Hi

I'm not sure what post you're referring to?



Posted 1 year ago 0 Likes   0 Dislikes

@Raymond 

Did you make that post? If so what is the thread called?

I am just currently covering this in my UTP training, and although I think I understand it from the lessons (albeit I had to go over it a few times). When I try it out on live demo situations I struggle a bit.

Best wishes

Old Tom



Posted 1 year ago 0 Likes   0 Dislikes

I take it that you are from Ireland TradingIRE?

Anyway, I think you are right.



Posted 1 year ago 0 Likes   0 Dislikes

Yeah Tradingmire,

I think you are right.