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Forex market good trade management by D este
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Forex market good trade management |
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Investment,Finance & Investment
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Setting stop losses and trailing stops if you are day trading is most important. This is part of trade management and preserving your trading capitol. When trading your money for real, logic and objective analysis can often disappear, forcing a forex trader into making bad decisions and deviating solid trade management. Exiting a trade smartly will make you money staying in a trade to see how it will turn out will lose you money. Traders need to use as much consistency in trading as possible and this can be achieved by logging results and having a trading plan. Taking trades with pre defined rules and not changing the tactics half way through the trade. Trade management forex You need to set trade management rules and stick to them, but if traders can stick to doing the same trading over a period of time, we can then see this for ourselves and make the necessary adjustments when needed. If you are losing on trades you need to find the answer to what is causing the problem. Take a look and if you are a now forex trader you should not trade at news releases. this can be dangerous because of the large spike and doji's that form. These spikes can take out your stops in a heart beat. traders need to gaining more confidence in trading strategy and plans by doing the statistical work that will get them there.
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