Forex Tips & Forex Advice
55 Free Forex Tips for successful trading 📋
Skip Monday mornigns and Friday afernoons
It's proved and highly recommended not to trade on Mondays, when the market has recently awaken and is making first "probation steps" to form a new or confirm a current trend; and on Fridays afternoon, during the huge volume of closing trades. The best days to trade are Tuesdays, Wednesdays and Thursdays.
Learn about Fibonacci levels and how to use them
Fibonacci can be very helpful in trading, even partially using the study, for example, to determine the best exit, can bring traders to a new edge of trading.
A golden rule of trading: "Always trade what you see, not what you would like to see"
Always ensure that a signaling bar/candle on the chart is fully formed and closed before you enter a trade.
If you follow someone's signals — learn from it!
If you choose to rely on live trading signals from other Forex traders, make sure you do it for your benefit, not a disaster.
Using a highly leveraged account comes at a cost of higher risks
Learn to measure trading success by the end of the day, week and then month and year
Do not judge about your trading success on a single trade. To be successful traders don't need to win every trade, they also don't become rich in one trade — they need to be profitable in a long run.
There is no such thing as a secret approach to winning in Forex
Take the time to develop a solid trading system and find out that the secret to trading success lies in hard work and constant learning.
Don't risk it with companies who are not properly regulated
Protect your investment. Find more about Forex Brokers Regulation.
To your trading success!
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