7 Forex Trading Golden Rules

 Learn the seven golden rules to become a successful forex trader:


1. Trade with money you can lose. We don’t recommend trading with money you need for paying the bills or supporting your everyday life.

When you set apart money in order to use it only for forex trading, you focus your mind, as well as your emotions, on forex only. This will help you make better decisions based on a clear mind.

2. Be firm and don’t withdraw your first earnings. Use this extra money to keep educating yourself as a trader and to train yourself on the platform. This way, you’ll have more chances of developing a trading strategy and further boosting your profits.

3. Discipline is key. If you win once, don’t think you’ll always win. Using common sense is the best thing you can do. Good spells don’t last long and they can destroy a long period of hard work.

4. When things get tough and you hit a drought, the best thing you can do is take a break, get your spirits back on, and then start again.

5. Never invest all your money on just one trade. Splitting the money in equal parts will increase your chances of success.

6. Do not trade with lots of indicators. Stick to few profitable mt4 indicators and keep the charts simple.

7. Make a trading plan and follow it. It’s very important to decide which way you will take whether you win or lose. It’s also recommended to know in advance how much money you are willing to invest in each trade.

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