Continued from page 1
fully understand
how market function and
market trend, else don’t trade
After entering
market,
Forex trader MUST immediately put a market stop.
If
stop order has been hit it MUST be executed immediately, NEVER make changes by lowering
stop order price.
If
forecast is wrong, Forex traders should leave
market immediately, then analyze again.
If
forecast is wrong, Forex traders should stop loss and should not increase trading.
Forex traders should admit mistakes, do not continuously make mistakes.
All analysis tools are imperfect, mistakes could always occur.
If
market rises Forex traders should buy, if
market drops Forex traders should sell, always follow
market trend.
Forex traders should not forecast
market price because such forecast will not be as easy as forecasting
market trend.
If
forecast is wrong, once
loss reach 10%, Forex traders must stop loss immediately, do not let it surpasses 10%, otherwise it would be difficult to recoup
capital again. aLvinHan is
editor of www.forex2u.com
http://www.forex2u.com/fx2u-forex-strategy.html
