FOREX WISDOM

• Let your profits run, but cut your losses short. 

• Don't double up a losing position

• Don't let a winning position turn into a losing one.

• Sit on your hands when you don't have a clue

• No one ever went broke taking a profit

• Don't marry a position.

• It's never too low to sell or too high to buy

• Don't Stand in Front of a Train

• Buy the rumor, sell the fact

• Plan your trade and trade your plan

• The trend is your friend.

• Bulls Make Money, Bears Make Money, but Pigs Get Slaughtered.

FOREX TIPS

• Before you dive headfirst into forex trading, learn the forex market through a demo or practice account. Preparing yourself for real trading by utilizing a demo platform provides an excellent source of training

• Nothing is guaranteed to make you lots of money in forex. No amount of knowledge, forethought, or specialized software can guarantee your success.

• Most successful forex traders will advice you to keep a journal of everything that you do. Include all of your failureS and your successes in the journal.

• Do research to decide which broker will you join. Researching your broker online is an easy way to see which firms can be trusted and which cannot. You can find quite a bit of information regarding brokers on forums dedicated to Forex.

• Don’t even think about moving a stop point. You should always come up with stop point that you will never move.