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Thread: Fx Tips For Professionals

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    Default Fx Tips For Professionals

    Have specific goals and objectives.

    . Five steps to build a trading system: a) Start with a concept b)Turn it into a set of objective rules. c) Visually check it out on the charts d) Formally test it with a demo e) Evaluate the results.

    . Plan your work and work your plan.

    . Trade with a plan - not with hope, greed, or fear. Plan where you will get in the market, how much you will risk on the trade, and where you will take your profits.

    . Follow your plan. Once a position is established and stops are selected, do not get out unless the stop is reached or the fundamental reason for taking the position changes.

    . Any successful trading system must take into account three important factors: price forecasting , timing , and money management. Price forecasting indicates which way a market is expected to trend. Timing determines specific entry and exit points. Money management determines how much to commit to the trade.

    . Don't cherry-pick your system's set-ups. Trade every signal.

    .Trading systems that work in an up market may not work in a down market.

    . Establish your trading plans before the market opening to eliminate emotional reactions. Decide on entry points, exit points, and objectives. Subject your decisions to only minor changes during the session. Profits are for those who act, not react.Don't change during the session unless you have a very good reason.

    . Double-check everything.

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    Default

    Trade with plan.. not with hope... yeah that's true

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    Elder Analyst Nebula's Avatar
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    Quote Originally Posted by Kang_Gun View Post
    Trade with plan.. not with hope... yeah that's true
    100%..agree...prepare.prepare.plan.plan.prepare.for.fail..
    Take Nothing But Picture, Kill Nothing But Time, Leave Nothing But Footprint..
    "Spread the knowledge, better the world" Percy Grunwald
    Observing inner sometimes not as easy as seeing beyond..!!(Anonymous)

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    Intraday Master hinomaru's Avatar
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    Default

    and one thing...believe your indi...

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    Quote Originally Posted by Kang_Gun View Post
    Trade with plan.. not with hope... yeah that's true
    yes this is true trade with plan

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    Default

    sm_cool bravo plan and consistent

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    It's seem easy but very hard to do... toothy9

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    Default

    thanks for this article
    now, i try to make trading plan
    but, intuition is needed to make decission
    so, i can make evaluation
    Remember.
    Trading is not a sprint but a marathon. Compounding money is a powerful thing.
    Be patient and persistent
    Exercise discipline
    Always, Always use stops loss
    Protect your profits at all times.
    Accept your losses like a man. If you cant accept your losses you will become a nerverous trader.
    When in doubt stay out.

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