When trading with Forex, there is always the possibility that you can lose a lot of money, especially if you are not educated on the topic. Reduce your own risk by learning some proven Forex trading tips.
Trading should never be based on strong emotions. Emotions like greed, anger and panic can cause you to make some terrible trading choices. You obviously won’t be able to eliminate your emotions if you’re human, but try to let them have as little bearing as possible on your decisions. Emotional trading is risky and, by definition, illogical.
Have at least two accounts under your name when trading. One account, of course, is your real account. The other account is a demo account, one that uses “play money” to test trading decisions.
Traders limit potential risk through the use of equity stop orders. The equity stop order protects the trader by halting …