Currency Trading Information Channel |
|
|
|
Two Timeless Rules in FOREX InvestingRULE #1) ~ Cut your losers; let your winners ride. One important thing that every new trader must know before entering this highly profitable business is that life is not perfect, even in FOREX land, and you should always know one fact: YOU WILL HAVE LOSING TRADES. Every FOREX trader does. The key to being a consistent, predictable, reliable trader is to, at the end of the day, add up more wins than losses. And, when you KNOW(based off your trading rules), without a doubt, that YES, indeed you are, in a losing trade, don't keep losing money (lowering your stop loss) just to *prove you are right* or your rules are wrong (however you want to look at it). Let's face it - you can't turn a sow's ear into a silk purse. You can't change the spots of a leopard and you can't turn chicken poop into chicken salad. The best trades are usually "right" immediately (the techniques, rules, methods and strategies you can learn in our resources list will be your best indicator for just what a "right" trade really is). Remember, people have been trading the markets for a hundred and sixty years. The smart traders know there's going to be another trade. Cut your loses short and compound those winning positions. RULE #2) ~ Thou Shall Not Trade the FOREX Without the Placing of a Stop Loss Order. When you place a STOP order, right along with your ENTRY order, via your online trade station, you've just automatically prevented a potential loss from "running" too far. Before initiating any trade, if you haven't already figured out at what point you would be wrong and would want to cut your loses or, at the very least, reevaluate your position from the sidelines, then you shouldn't be putting on the trade in the first place. Show us a FOREX trader who doesn't use stop loss orders and we'll show you someone who loses a lot of money. Omar Vargas
MORE RESOURCES updated Sat. July / 27 / 2024 Euro Forecast: EUR/USD Digests Data, Core PCE on Tap FOREX.com US Zimbabwe Injects $50M in Forex Market to Stabilize Currency Bitcoin.com News ThinkMarkets Teams Up with TradingView to Bring Trading to Desktops Finance Magnates Kickstart the FX trading day for July 26 w/a technical look at the EURUSD, USDJPY & GBPUSD ForexLive Russia Considers Allowing Digital Currency Trading on the Country's Largest Exchanges Bitcoin.com News EUR USD Chart & Rate - EUR USD Trading FOREX.com 15 Banks and Credit Unions That Exchange Foreign Currencies Business Insider Don't Fall for Forex Trading Scams U.S News & World Report Money Stock market today: Asian shares dive after a wipeout on Wall Street as Big Tech skids Beaumont Enterprise Stock market today: Asian shares mostly advance after Wall St comeback from worst loss since 2022 The Associated Press Stock market today: A widespread rally on Wall Street sends stocks rising, both big and small WIAT - CBS42.com Stock market today: Global shares tumble after a wipeout on Wall Street as Big Tech retreats Yakima Herald-Republic Stock market today: Asian stocks fall after a torrent of profit reports leaves Wall Street mixed The Hill A Decade of Major Foreign Exchange Returns Visual Capitalist What Is Forex Trading? Forbes USD/JPY Slammed: Is the JPY Carry Trade Dying? FOREX.com US Senior G10 trader Agaisse leaves Barclays FX Markets USD/JPY, EURUSD Forecast: Two trades to watch FOREX.com US Stock market today: Global shares tumble after a wipeout on Wall Street as Big Tech retreats Post Register Stock market today: Wall Street slightly lower as airlines post earnings ahead of latest GDP report Idaho State Journal Weekly Forex Forecast For July 29 – August 2, 2024 Daily Price Action The Most Famous Forex Traders Ever Investopedia Towards Increasing Complexity: The Evolution of the FX Market Liberty Street Economics - FOREX.com vs. Robinhood: Which Broker Is Right for You? The Motley Fool Learn About Trading Forex With Binary Options Investopedia Stock market today: Wall Street opens mixed as Big Tech steadies itself - Traverse City Record Eagle Stock market today: Wall Street opens mixed as Big Tech steadies itself Traverse City Record Eagle Best Forex Brokers In May 2024 Bankrate.com Futures Markets Charles Schwab Speech: Geopolitics and its Impact on Global Trade and the Dollar International Monetary Fund EUR/USD Forecast: Forex Friday - July 19, 2024 FOREX.com US Forex Day Trading: 5 Mistakes to Avoid Investopedia Why Trade Futures Through Schwab Charles Schwab Foreign exchange contact group (FXCG) European Central Bank Best forex trading app of 2024 TechRadar GBP/USD Signal Today - 24/07: Rally Intact Despite Pullback DailyForex.com USD/PKR Analysis Today - 25/07: Speculative Range (Chart) DailyForex.com GBP/AUD stretched and nearing known reversal area FOREX.com US Using EMA in a Forex Trading Strategy Investopedia USD/CAD Forecast Today 26/7: Extends into Resistance (Chart) DailyForex.com 15 Banks and Credit Unions that Exchange Foreign Currencies Business Insider Egypt floats its currency and agrees with the IMF to increase a bailout loan to $8 billion The Associated Press US dollar climbs amid risk-off market mood TorFX News USD/RUB Analysis Today - 24/07: Lows Stay Intriguing (Chart) DailyForex.com
|