It's been so long since I revisited this blog again. Today gonna write a short stuffs on trading tips. (which probably sharing with you all and keep a reminder for myself)
If you are not familiar with the currency pair you trade, don't trade on that pair! You might get information or news about the particular pair, but if you are not familiar with the movement, don't be stupid enough to trade on it.
If your risk management failed, so do your account balance. With the risk return trade-off theory, higher risk comes with higher return, that is true! But if you saw a trend falling or rising rapidly, and you wish to jump in with HIGH volume trading. May God bless you! You may earn huge profit from it! but most of the time, you will often get a call, which is "MARGIN CALL". you idiot.
If you think you can out-guessed the market trend, think twice, if you still think you can predict the future market trend, think again. If you still don't know what I mean, and continue think you are such a great trader with accurate future prediction, I might as well say you are either stupid, or you are an idiot! NO ONE can out-guessed what will happen with the market trend. So remember your STOP LOSS!
For students, if you are having exams or heaps of assignment ahead. Stop the trading. You can't concentrate on your studies if you trade.
If you trade, you learn, you gain experiences. Don't waste time on gaming or doing nothing. Use your time to read books or news to improve yourself.
That is all what I can think about for now, I will post more If I can think of more. I used to make mistake all the time. But we learn and we change. Anyone out there, hope this few tips helped you =)
Also, this is a reminder for myself too ...hahahaha! I LOVE PLAYING GAME! but i am changing.
All the best.
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