Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.
Teejy88 posted: The main way to be profitable is proper risk management. No other way around it.
MM will mean that you should not have huge fast losses but not amount of MM will make you have profit. For profit you need an edge in the market , a special strategy or insight that will create a positive expectancy. MM just tell you how much to trade but not good if use junk strategy
Select a broker that has strong regulations and a guarantee of asset protection. Use strong money management to protect your investment capital. It is better to have small profits over time, than to have massive losses at any time. Trade smaller lot and unit sizes, you can always step additional tickets into your trade basket as the previous ones become profitable.
Lock in your profits using a break even SL.
Use REASONABLE stop loss levels.
Use REASONABLE take profit targets.
Do not allow your emotions to guide your trading.
Do not trade when sick, tired, intoxicated, or other wise not up to 100% performance.
Avoid taking deposit bonuses, there are generally stipulations to the acceptance of the bonus which could negatively impact your account.
These are just a few suggestions from my own rules. Just my opinion of course.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.