Make Money Magazine Forex
Transcript of Make Money Magazine Forex
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MAKE MONEYHOW TO
All rights reserved. Alex Wilson.
EDITION 1:FOREX
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10 tips for a successful start
An essential mistake beginners makeis closing the transaction too soonand thus not using the full profitpotential. Trends last longer thanthey might seem at first!
6 Dont stop the profit
Transactions against a trend usuallyresult in loss. Wait for a beneficialtendency and then make your move!
7 Dont play against
the trend
If you still arent confident aboutyour decisions, choose a platformthat lets you follow leaders and copytheir transactions.
8 If in doubt, follow
the leader
Dont hold unsuccessful positionsopen for a long time. Experienceshows that its best to close themearly and move on to others.
Close the unsuccessful
Beginners often dont know thatwhen trends start, they developquickly becaus e they are increased by
traders following them. Use trends inyour favour!
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10
Trends have momentum
Dont open many positions at thesame time. Its better to choosefewer positions, but weigh each ofthem carefully.
1 Start gradually
People often forget to limit their lossand therefore have to step out of thegame very soon. With the Stop-LossOrder, you will be able to control thesituation if the rates changeunexpectedly.
2 Stop-Loss order
Specialists advise against risking
more than 1/6 of your free capitalwhen you arent completelyconfident.
3 Rule of 1/6
Diferentiate the time frames ofanalysis: weekly graphs are used toobserve trends, daily and hourlygraphs to observe the best time to
open and close positions.
Multiple time frames
Each good trader has their own plan,and the best make an eort to holdon to it. Those who have the time,
make daily transactions, otherschoose long-term strategies. Keep itsteady!
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Stick to the plan
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