5 Tips for forex beginner

[hustrewilliams]

Some of the tips that every trader should consider before trading currencies are:-

1. Make a trading plan and follow it strictly.
2. Don’t run behind huge profits, try to mitigate losses.
3. Keep a trading journal.
4. Don’t be afraid to explore.
5. Practice, Practice and practice until you become confident.

 

[e_abrams]

Point number 2 is especially relevant but overlooked, I think, especially by newbies. Everyone wants to make big profits. Profits depend on the size of your account. If you have a tiny account and try to profit a lot you'd just end up losing the whole account.