1. Look risk before trade and don't look on profit or number of pips .
2. Keep in mind your risk level that how much money you are going to loose per trade.
3. For long trade always use ,:3 or 1:4 means low lose and high profit .
4. Use trailing stop if you are use to or place S/L at break even when you're in profit.
5. S/L should take place on each trade. this is the point where a lot of peeps loose their account in a while.
6. For beginners risk should be 1-2% per trade.
7. Do not increase lot size in start , always increase volume when your deposit is double. Example:If your deposit is 300$ you should start trade with one point = 0.01
If your deposit reaches 600$ you can increase lot size = 0.02 and so on...
8. Study chart patters if you can or use indicators but prefer to use chart patters as they give more probability than indicators . How ever indicators can also give good result some times .
9. Never do trade when you're confused about chart pattern i.e whether it is head and shoulder or double bottom. Wait for a right pattern then start trade.
10. Never use risk reward ratio 1:1 , 2:1, 3:1 and so on. Means don't trade on low profit and high loss other wise it will emptied your account in few days
Thanks if you thought it is efficient for any one or beginners .
Shahid Ur Rahman
Princemunna
2. Keep in mind your risk level that how much money you are going to loose per trade.
3. For long trade always use ,:3 or 1:4 means low lose and high profit .
4. Use trailing stop if you are use to or place S/L at break even when you're in profit.
5. S/L should take place on each trade. this is the point where a lot of peeps loose their account in a while.
6. For beginners risk should be 1-2% per trade.
7. Do not increase lot size in start , always increase volume when your deposit is double. Example:If your deposit is 300$ you should start trade with one point = 0.01
If your deposit reaches 600$ you can increase lot size = 0.02 and so on...
8. Study chart patters if you can or use indicators but prefer to use chart patters as they give more probability than indicators . How ever indicators can also give good result some times .
9. Never do trade when you're confused about chart pattern i.e whether it is head and shoulder or double bottom. Wait for a right pattern then start trade.
10. Never use risk reward ratio 1:1 , 2:1, 3:1 and so on. Means don't trade on low profit and high loss other wise it will emptied your account in few days
Thanks if you thought it is efficient for any one or beginners .
Shahid Ur Rahman
Princemunna
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