Who said that decisions can only be made on New Year? Well, it’s still about a month after the first of January and I did mine. I mean … I do the above changes the better, right? So let me cut to the chase and say what they are now. Here are my top 10 foreign decrees:
1) Do not hesitate to trade breakouts!
* Chart patterns are the bread and butter of technical analysis. There are five basic chart formations should know – triangles, head and shoulders (inverted), double bottom (top), cup and handle, triple bottom line (above). If a leak .. trade is!
2) Do not forget the melted!
* Marrying technicals are fundamental to marry Jessica Alba. Well, the latter makes no sense. In any case, you should always try to perform operations that are supported by technicals and fundamentals / feeling, since it would increase the likelihood of them winning.
3) Do not bet!
* Say no to criminals trade! Trading currencies is not like a casino where you can just make a big time trade once. Of course you can, but do not worry if you find your account to zero the next day. If you want to play … Go to a casino! It’s more fun there! If you want to gain currency trading … consistently!
4) Noncommercial revenge!
* Did I say free trade “pirate”? Well, losing is part of the game. So if you just relax, calm down, and move on. Do not hit the input button again and trade in two or three times the position has lost hope of recovering even win once. You’ll be in a trench deeper if you lose again.
5) Manage your positions wisely
* Manage your positions wisely their management of their chicks … I mean their checks. Do not risk more than 1% of your account balance in a trade. Enough said!
6) Do not trade in a very volatile time
* Trade during the launches of high profile reports such as GDP and NFP is not my style. I have whipsawed the last time you tried to mount a sudden drop in the price of a GDP report. You can not really measure the amount of one currency will move as a report. You can get the end of the move, if you decide to just go in. If you miss it … then leave.
7) Trade setbacks
* This relates to the number 6. If you miss a break or strong initial movement in the prices of the time not just jump in. Wait for the delay (sounds fancy huh) So you can get a better price. Result of the function to limit … it’s there for a reason.
Be flexible
* The market behaves like a wayward child … mind. You just do not know what you want exactly. So sometimes it is better to just adjust and be flexible. To be profitable and enjoyable you have to do what the woman wants.
9) Use a journal
* Well, the journal sounds a bit gay-ish. But if you want to track what works and what is not in their operations then it is better to point them all down. Write down your business ideas, what happened, what he did, it was … everything.
10) Exit.
* Yes you read right! Forex is a tough business, with all the things you have to read and analyze. We’re just human beings. We’re too tense. Sometimes we have to take a break too. So for my tenth decree … Get rid of stress. Clear your mind. Go out.
