5 Things You Must Avoid to Succeed in Trading Forex - PowerPoint PPT Presentation

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5 Things You Must Avoid to Succeed in Trading Forex

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The amount of these mistakes lowered, but sometimes emotions overcome the mind and the trading strategy. Here is the list of 5 Things You Must Avoid to Succeed in Trading Forex. – PowerPoint PPT presentation

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Title: 5 Things You Must Avoid to Succeed in Trading Forex


1
5 Things You Must Avoid to Succeed in Trading
Forex
2
Index
  • Avoid to Succeed in Trading
  • 5 Things You Must Avoid to Succeed in Trading
    Forex
  • 1. Dont Place Stop Loss
  • 2. Trade in Lots Too Big
  • 3. Overtrade
  • 4. Closing the Winning Positions Too Early
  • 5. Following Forecasts and Signals

3
Avoid to Succeed in Trading Forex
  • The amount of these mistakes lowered, but
    sometimes emotions overcome the mind and the
    trading strategy, and as a result, pips are lost.
  • Here is the list of most devastating and stupid
    things you can make in forex trading 5 things
    you must avoid to succeed in trading forex.

4
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5
1. Dont Place Stop Loss
  • Sometimes you just forgot to place, and sometimes
    you hope for the price to eventually go in the
    right way and think that stop loss will be an
    obstacle.
  • That is wrong! Always place a stop loss its good
    to have it significantly lower than your targeted
    profit.

6
2. Trade in Lots Too Big
  • Even if you are 100 sure that this position will
    be profitable, dont make it too large 2-5 is
    more than enough.
  • Losing 20 of deposit will require much more risk
    to recover.

7
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8
3. Overtrade
  • Everyone says it is bad to overtrade, but for a
    trader, it is always hard to stay away from the
    market when there are "so many opportunities".
  • Try to set a limit of daily/weekly trades for
    yourself. Overtrading is a result of the stupid
    emotions, not your mind, so avoid it.

9
4. Closing the Winning Positions Too Early
  • It seems to get some guaranteed profit against
    risking to wait even more.
  • But trading experience proves that early closing
    for winning positions and waiting for the losing
    positions to go green is completely wrong.
  • Let your winning positions run and cut your
    losing ones early.

10
5. Following Forecasts and Signals
  • Some traders it hard to avoid this, when there is
    some forex guru they respect.
  • Trading with your own strategy and full
    responsibility is the only way that can make you
    an expert and successful Forex trader.

11
Thank You
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