How to Trade Safely?

[Dictorsto]

In order to trade safely, try to implement some risk and capital management techniques in your trading strategy. In order to limit position losses, always put at least stop-loss order. Also, trade only some percentage of your capital, don’t invest it all in one trade

 

[Ary Barroso]

In order to trade safely, try to implement some risk and capital management techniques in your trading strategy. In order to limit position losses, always put at least stop-loss order. Also, trade only some percentage of your capital, don’t invest it all in one trade

Using stop loss is the best practice. Basically, trading without SL looks unrealistic; that means we are trading with 100% risk ratio.

 

[Baazex]

I as forex trader believe that traders should start small and grow accounts as their skill improves, we cannot ignore trend following trading breakouts can be a great way of maximizing potential gains. Breakout trades are often used with larger risk. Strategies will help you if you only have a pittance to trade.

 

[Petez_FX]

Risk 1%, no more, plan your trades accordingly, learn learn learn.

 

[DT77]

Risk 1%, no more, plan your trades accordingly, learn learn learn.

What he said...

 

[TFA]

remember to put a stop loss!

 

[torry9]

remember to put a stop loss!

And don't forget to formulate a trading plan and set a risk management strategy.

 

[Ary Barroso]

remember to put a stop loss!

Same opinion from me; trading without stop loss is very much risky! There is no way without SL position, usually I take 2% risk reward ratio as my maximum parameter!

 

[DanielCena]

I agree with that, because it should be taken into account that it is like a trial period of at least 6 months or up to a year until you adapt and discover your own method and strategy, you have to train without risking too much.

 

[pippin]

It's impossible to trade without stop loss because risk of ruin becomes 100% it's simple game of probabilities and we should not discard that.

 

[naveed3229]

But you know it will the knowledge of the key to show your work

 

[jackmalek]

Always remember that it is 80%psychology and 20% sill.

 

[DortDaHier]

The thread lives so long? Gravediggers atac

 

[abhay236]

In general experts recommend that small investors devote no more than a few percentage points of their overall portfolio to forex trading in order to limit any possible damage. What’s your way of safe trading?

I use stop loss.
I risk 2% of my account per trade and maximum 5% if im overly confident of a trade but that rarely happens.
I use a trading journal to observe mistakes and correct them.

 

[jackmalek]

So skills are not that important in forex trading, and what kind off psychology should i use in trading.

I wouldnt say "not that important," rather i'd say it should come second after psychology. You need to understand probaility and game theory.

 

[Crinteme]

Trading is a easy way to earn money online but you learn of basics Forex trading to become a good and successful trader . So if you want to be a successful trader then learn and then earn.

 

[Terry_8]

Trading is a easy way to earn money online but you learn of basics Forex trading to become a good and successful trader . So if you want to be a successful trader then learn and then earn.

True! Learning is what determines a trader's success. Nothing can be gained without having proper knowledge.

 

[Cooper_01]

Do not risk more than you can't afford to lose and always stick to your trading plan

 

[Terry_8]

Do not risk more than you can't afford to lose and always stick to your trading plan

That's a really good suggestion, but traders often end up over trading and over risking because of greed.

 

[bottomcatcher11]

I think for a beginner you should start trading on the safe side you should focus on basics and must take expert to advise before trading.