how to trade forex
- Thread starter markgoh2025
- Start date
- Watchers 7
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smallest lot/contract possible.....
one trade at a time....
equal profit target and stoploss....
1 trade per day....
learn mq4/mq5....
be prepared to lose.....
trade with the trend....
memorize the atr's......h
Solid list. I'd also add journaling every trade, it's a game changer for spotting patterns and improving fast.
I'd recommend that you pick the pair you would like to trade and follow up with the economy and news releases related to that pair. This will give you a heads-up and give you some time to prepare before the news is out. Not to forget, geopolitics can also affect the pair depending on which pair you are trading.
keep it dead simple when you're starting out, just slap down micro lots, take one trade a day max, and drill your risk management till it's second nature. spin up a demo account first to get a feel for how the pairs actually breathe, lock onto whatever market tickles your fancy, ride the macro wave with a tight stop loss, and save yourself from donating your entire bankroll to tuition in week one.
