1 The secret of success lies not in buying at the lowest possible price and selling at the absolute top. It is the avoidance of large losses. 2.The less you're in the market the less risk you take 3.The probability of a winning trade is increased when the trend signal is confirmed by other models. 4.Look at 3 time frames on every trade 5.Currencies are highly trended sometimes for months and even years. 6.Know what the rest of the market is looking at even if you don't agree. Don't try to tell the market what to do. ..To be sure the tonnes more :) feel free to add what you've learned.
The key to trading is discipline and eliminating the emotion from day-to-day trading. Learn the rules of the market, create a plan, test your plan in a demo account, assess market conditions, know how much you're willing to lose, and go for it! Stick to your plan. It's also important to know what kind of trader you are. My broker offers free educational resources, so that helps, too.
liquidityFX posted: start with small capital, because you WILL lose part of your first investments due to lack of knowledge, the FX world has a shitload of pitfalls, it took me just over a year to break-even.
and be wary of robots/strategies that show superb results with less than a year of verified data.
An addendum to this: The upside of robots/strategies is they take the emotion out of it, they simply follow the rules they are programmed to use. I agree with what was said, though, the longer the history the better.
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