dhanpreet Posted November 3, 2010 Posted November 3, 2010 Do : Do make sure to keep a constant eye on your margin. If your available margin drops too low, your broker will make a margin call. If you don't deposit money within 24 hours, they will sell your currency for the current market value, and you can take substantial losses. Don't : Don't EVER invest more money than you can afford to lose. All over the internet are horror stories of people investing their life savings into programs. The best advice is to consider your income and your plans, and make sure that necessities are put first. Substantial losses are sometimes hard to recover. Do : Do utilize stop/loss purchases. These decrease the likelihood of extreme losses. If used correctly, these techniques can actually increase your earnings because it will sell if it gets too high, but continue accumulating as it increases. Don't : Don't make too many transactions at a time if you plan on carefully watching each currencies movement. Multiple transactions cause problems when timing is as important as it is. Keep your purchases to a maximum of 2-3 at a time. This makes it much easier to buy and sell quickly. Utilizing these simple do's and don'ts can save you from a potential lifetime of problems. Just make sure to take care with your spending and use common sense when dealing with money. Quote
rovi08 Posted November 15, 2010 Posted November 15, 2010 thanks for some advised, i really appreciate it alot, keep posting and posting here, so that many members would have gained knowledge about the forex field Quote
myregister Posted November 25, 2014 Posted November 25, 2014 Do : Do make sure to keep a constant eye on your margin. If your available margin drops too low, your broker will make a margin call. If you don't deposit money within 24 hours, they will sell your currency for the current market value, and you can take substantial losses. Don't : Don't EVER invest more money than you can afford to lose. All over the internet are horror stories of people investing their life savings into programs. The best advice is to consider your income and your plans, and make sure that necessities are put first. Substantial losses are sometimes hard to recover. Do : Do utilize stop/loss purchases. These decrease the likelihood of extreme losses. If used correctly, these techniques can actually increase your earnings because it will sell if it gets too high, but continue accumulating as it increases. Don't : Don't make too many transactions at a time if you plan on carefully watching each currencies movement. Multiple transactions cause problems when timing is as important as it is. Keep your purchases to a maximum of 2-3 at a time. This makes it much easier to buy and sell quickly. Utilizing these simple do's and don'ts can save you from a potential lifetime of problems. Just make sure to take care with your spending and use common sense when dealing with money. I agree with the whole do and don't list here. Margin control, mindset, using SL and TP, overtrade all already included into one big list that dhanpreet share here. As for overtrade i think that is a signal that our greedy already consumed us and must be addressed. Quote
pepy Posted June 21, 2015 Posted June 21, 2015 Do : Do make sure to keep a constant eye on your margin. If your available margin drops too low, your broker will make a margin call. If you don't deposit money within 24 hours, they will sell your currency for the current market value, and you can take substantial losses. Don't : Don't EVER invest more money than you can afford to lose. All over the internet are horror stories of people investing their life savings into programs. The best advice is to consider your income and your plans, and make sure that necessities are put first. Substantial losses are sometimes hard to recover. Do : Do utilize stop/loss purchases. These decrease the likelihood of extreme losses. If used correctly, these techniques can actually increase your earnings because it will sell if it gets too high, but continue accumulating as it increases. Don't : Don't make too many transactions at a time if you plan on carefully watching each currencies movement. Multiple transactions cause problems when timing is as important as it is. Keep your purchases to a maximum of 2-3 at a time. This makes it much easier to buy and sell quickly. Utilizing these simple do's and don'ts can save you from a potential lifetime of problems. Just make sure to take care with your spending and use common sense when dealing with money. Basic thing, you can get this kind of teaching in many places around the internet i would comment about the transaction well that is true to certain extent but multiple transaction could bring more profit depend on the trader who trade with it, if you are one time trader it will be a big loss but how about a trader who trade for more than 3 years and in most of tradings earn by trade with multiple currency? Quote
myregister Posted July 16, 2015 Posted July 16, 2015 Basic thing maybe for you but not for him and he is truly right for all part like don't invest your "hot" money insted invest "cold" money. Also too many transaction is bad for us because we cannot focus, even i don't know how much for you but for me it is depend on the condition, basically it is all about don't be GREEDY. Quote
pepy Posted August 27, 2015 Posted August 27, 2015 @myregister: I think a trader who trade for around 2 up to 3 months already know that all investing hot and cold money. But can you do that? Many traders cannot make difference such as hot and cold money especially if that person want fx as main job which sustain a trader life. Quote
Decub Posted August 28, 2015 Posted August 28, 2015 Forex is a place to know what you want, know what the business presents to you because as a trader, you don't have to believe you will make it at all times and it is not always all times that you make it the way you had wanted to. That is basically the main reason certain people see it as a gamble that is filled with ups and downs. Quote
myregister Posted August 28, 2015 Posted August 28, 2015 True, this is why i always say to myself one, two, three or even four losses are normal for traders like me. Don't think too much over it. Up and downs also happening in other so called "stable" business. Do what as the best you can do and don't do anything harsh. Quote
Decub Posted September 1, 2015 Posted September 1, 2015 There are implied rules so far as Forex is concerned and it is not expressly stated that one should take the issue of risk management so serious. As a matter of fact, managing your time well is important in Forex and if a trader needs to know about how to take the best advantage of earning, he will also take the best advantage of risk management. Quote
myregister Posted September 4, 2015 Posted September 4, 2015 Risk management should be take serious because this is a crucial, if you don't have a good risk management you will betting your capital. If you are really take your risk management seriously you will take risk intelligently without need to spend much of your capital. Quote
pepy Posted September 14, 2015 Posted September 14, 2015 Don't make forex trading harder than it has to be, with many tools and indicators scattered on internet you should use them for your own good, also don't ever think that you will become millionaire just in few days or nights? That's practically impossible. Quote
myregister Posted September 23, 2015 Posted September 23, 2015 According to me, what you should do is take a rebate i mean join in forex broker that are well regulated and offering rebate. At least you will get some bucks whether you lose or gain something. Don't ever trade without proper risk management also trading recklessly because of your own emotion. Quote
pepy Posted November 10, 2015 Posted November 10, 2015 There are many things that we shouldn't do when we are a good trader, something like don't let your confidence go higher than yours or take a risk recklessly without any proper analysis or management because it will be bad for your career and further will damage everything you've been built. Quote
myregister Posted November 15, 2015 Posted November 15, 2015 There are many things that we shouldn't do when we are a good trader, something like don't let your confidence go higher than yours or take a risk recklessly without any proper analysis or management because it will be bad for your career and further will damage everything you've been built. When? You mean if? Well i don't really get it but do and don't has been a good discussion up to now and we share many things. In fact do and don't change in few times, i see that having greed and fear is a need to do thing but control is the most important above all. as for don't is taking risk that you actually cannot bear to lose. Quote
pepy Posted February 6, 2016 Posted February 6, 2016 If you check the original poster's post then you should know about it. Something that i prefer to do in forex is think about the risk and how to handle it, focusing when trade, never let any kind of emotion to disturb me since all my decision based on data or my pure analysis. And don't things to do is Mixing emotions which i think is suck for trader, and impatience to the market. Quote
Vaabum Posted April 22, 2022 Posted April 22, 2022 Forex is a very interesting option to work with. It should be understood that there are quite a lot of restrictions on work. Quote
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