Here we summarize tips seasoned and successful traders who also have undergone professional traders (trading for Living).
1. Create a trading plan and description well. The criteria, you have to know when:
Open positions
How many digits Stop Loss and Take Profit ‘ideal’
Have a financial management strategy (money management). This is related to how long you trade in a month, how do you account for the level of security risk loss, when the pull of funds, when adding funds, and the allocation of income to savings, investment and consumption.
2. Make the trend as your best friend (Trend Follower). Do not fight the market trend (though not including mandatory rules). If prices are rising, you can put a Buy and vice versa when prices are down then you can install Sell position. Most people often take the opposite (counter trend) and often wrong – although there is also often true . Read more »