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Thread: Forex rules

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    Default Forex rules

    We would like to present you some advice for successful forex trading.

    You buy a trading system and learn the rules
    You study and learn the skills of trading, in theory
    Trade with a Disciplined Plan
    You try the new skills you've learned on a demo account
    You experience the "beginners luck". You make some winning trades. You're psyched
    Good Execution Good Anticipation (while we are trading, whether the last trade we did was profitable or not is definitely not important. There is no point drawing conclusions on the outcome of just one or even a few-trades. We can only access our anticipation skills when we have made a reasonable number of trades and see the longer-term result of our action. It is so important that when we are trading, our goal should be focus on executing our trades with ruthless efficiency and to judge only that. If you consider the ways that you lose money trading, you will find that it is down to poor execution, rather than poor anticipation)
    You continue trading but start experiencing losses. The confidence you experienced in the beginning has made you a little over confident. You think that this period of losses is temporary. You continue to trade, mounting up more losses
    Cut Your Losses Early and Let Your Profits Run
    Do Not Over Trade (do not bet on the farm. One of the most common mistakes that traders make is leveraging their account too high by trading much larger sizes than their account should prudently trade)
    After losing all of your money or a serious chunk of your trading capital you start look for answers
    You do some research and decide to get someone to help you. You hire an expert to teach you the skills of trading from someone who has been there
    This mentor shows you the skills you need to become a successful trader. They teach you to handle the bad times with the good. They strive to develop you mentally, physically, emotionally, and spiritually
    After mentoring for a certain amount of time you start out on your own. At this time it is important to seek people who are your peers. You add like minded individuals to your group of friends or co-workers. You learn from each other. You talk to each other, compare notes, and create a buddy system that helps you through the lonely times that trading will inevitably bring
    You continue to learn by trial and error. You may decide to seek out more mentoring because there are "levels" of trading success that require new skill sets. For instance, trading one contract and winning or losing a dollar is different than trading a hundred contracts and managing thousands of dollars at a time
    Do Not Marry Your Trades
    by forextheory.com

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    Default

    i want to tell for all the new begginers to go through above rules carefully,
    these will help u a lot
    ok guys

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    Default

    what is the meaning of churning?
    is it allowed in forex?

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    Director of FXOpen Aus FXOjafar's Avatar
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    Default

    Quote Originally Posted by trader4ex View Post
    what is the meaning of churning?
    is it allowed in forex?
    Churning is referring yourself for the purpose of generating referral income for yourself and it is not allowed.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

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    Default

    Quote Originally Posted by RebateFX.com View Post
    Churning is referring yourself for the purpose of generating referral income for yourself and it is not allowed.
    can we refer relatives and family members?

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    FxIndia Administrator Invest_Master's Avatar
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    Default

    Quote Originally Posted by lifesdream View Post
    can we refer relatives and family members?
    Yes, you can refer your friends and relatives.

    Regards,
    Invest_Master

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    Default

    i read some where that we can open upto 10 accounts for getting bonus..is it true?

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    Default

    yes, you can open ten account

    Thanks for your worthy advice to beginer like me. I knew a lot and realised that we make mistakes due to our lack of knowledge.

    can I open more than one account using my same IP
    Last edited by nonamer; 11-11-2008 at 10:00 PM. Reason: back to back post

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    Super Moderator nonamer's Avatar
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    Default

    Quote Originally Posted by bibhutibhusan chand View Post
    yes, you can open ten account

    Thanks for your worthy advice to beginer like me. I knew a lot and realised that we make mistakes due to our lack of knowledge.

    can I open more than one account using my same IP
    U can open as many account u want.
    But remember welcome bonus only limited to 1st 10 account.
    Yes u can open more than one account using same IP. Don't refer u self or refer other member using same IP .

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    Bullish soumyakhatri's Avatar
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    Default

    Quote Originally Posted by earncommunity View Post
    i read some where that we can open upto 10 accounts for getting bonus..is it true?
    yes it is true but If you withdraw from your account, without completing 10 lots round trades , your bonus amount will be voided from the account. Note: You may open up to 10 bonus accounts. If you open more than 10 accounts, any accounts after the 10th account will have the bonus amount and profit removed manually by operator.
    Regards
    SOUMYA KHATRI
    Contact me at:[email protected]
    Till u site have FXOPEN banner u can add u site. 2nd time warning.
    14) It is not allowed to promote websites which do not contain FXOpen banners.

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