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Message: [QUOTE="tommy0921, post: 16530, member: 8093"] As I said above, I'm still a newbie, so I spend time to search more information on Google. Here are some good points I want to share with all of you. • [B]Always use Stop Loss Orders[/B]. If you don't use them, it will kill you financially. We recommend stops of 30 pips above or below your entry price. • [B]Don't loose more than 2%-5%*of your total capital in each trade.[/B] Adjust your stop orders and leverage if needed. • [B]Let the profits run, cut the losses[/B].*Use a*"Trailing Stop"*If your broker doesn't support it, you can do it manually. Set the stop price at 30 pips (or the amount that you have chosen) above/below the maximum/minimum price since your entry. You will have to adjust the stop level continuously, but you will get much better results. • [B]"The Trend is your Friend!!"[/B]*Go with the trend never go against the trend. • [B]Capitalize well.[/B]*Fund your account with enough money. For standard accounts, at least $5000 (for mini accounts $500). • [B]Don't leave trades open overnight.[/B] In addition, your Forex broker will charge you "interests" for open positions overnight. Interest is generally charged at 5:00P.m. EST. Please keep in mind that most brokers will also charge 3 X time the regular interest rate on Wednesdays. • [B]"The number's don't lie"*[/B]- all available information and its impact on traders, and the market, is already reflected in a currency's price. • [B]History repeats itself*[/B]- over time, certain chart patterns become consistent, predictable and very reliable. The catch is SEEING them. • [B]"Never start Trading without FIRST using a*DEMO Account*[/B].A Demo Account allows you to become familiar with trading procedures, such as placing Market, Stop and Limit orders without any risk. All dollar losses or gains in a Demo Account are imaginary but the • EXPERIENCE is INVALUABLE! * [link removed] [/QUOTE]

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