10 basic mistakes of newcomers in forex trading
1. Trading at the beginning of the Forex rebate king in the first few minutes of the market, the market often suddenly changes or bursts up Experienced traders sometimes try to predict the trend of the market changes with their knowledge cashbackinforex it is better for newcomers forexrebateindonesia to try 2. Taking profits without proper haste Well, you opened a long position two days later, you happily closed it Forexrebateking Check how much money youve made but you find out later that the strong upward trend has only just begun so, if you hadnt been so hasty, you could have made 10 times more money Only on extraordinary occasions do you use take profit orders, usually when resistance levels are very obvious and its generally best to leave the market with a stop loss or trailing stop order 3. You opened a long position, but the price is falling you stubbornly believe that it cashback forex go back up, I just opened a position too early, and additional investment but the price continues to fall, your losses are also doubled Remember: you can only add investment when you take profits 4. Close out a losing position (or wait until it triggers a stop loss) This is a wrong strategy: If the whole market starts to fall, these already losing positions may be the largest part of your losses, which means you should first close out these positions good positions will not fall quickly, and conversely, they may rise again so do not rush to close out a profitable position 5. Typical mistake: a losing position has just been closed - to make up for the mistake he eagerly opens a new position which will result in a new loss, so do not enter the market immediately after a loss, take a break 6. But be careful not to let such a beautiful operation end up unprofitable or even losing money. In the short term follow the standard rules that will get you in and out of the market, even if its a strong move Dont marry your position 8. This means that to close a long position in order to open a short position someone can take advantage of this method, but must close the position earlier: the price of the closed position must be higher than the price of the opened position 10. This last advice is very practical for difficult cases, which, by the way, will help in everything - try it!
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