1. Don't trade ANY euro pairs. This is the most traded currency pair, it is really fast up and down and has a lot of potentials for you to make money. However, because it is a volatile currency pair, it is even more likely that you will lose money than make money, especially if you do not know what you are doing. EUR / USD is the most damaging currency pair!

2. Let's trade on the daily frame. If you have been involved with this job for several years, you will understand that sticking to the daily frame will have less price noise. You can see the trend more clearly and when you are not staring at the screen all day you also become less emotional, so practice becoming a more effective trader just looking at the correct chart. minutes per day to close or manage your own trading.


3. There is no indication that any holy chalice is perfect, they don't exist. There is a good indicator, there is a bad indicator. There are a few indicators that will turn out to be terrible if you reverse the use they intend to make you really profitable. But the reality is, still no indicator is perfect. Don't search anymore. What you should be looking for is an indicator that MATCHs your strategy.

4. Which currencies should choose? In trading, there is the concept that all pairs can be traded equally. To a certain extent, that's not wrong. But until you understand how to trade, look for lots of trends. When it comes to trends, it is not a few days or weeks. It was a few months or at least half a year. Pairs that do that are usually more likely to stick in one direction for a while. That's where you make money. An easy way to identify those pairs is to place a volatile currency (like USD) next to a less volatile currency (like JPY).

5. USE THE STOP ORDER. Without a stop loss, even if you do bring yourself all sorts of profits, the market will eventually turn around and bite you. Without a safety net, you will lose most, if not all, of your profits. The best way to attack is a good defense!


6. Talking about TP and SL options, most new traders usually pay a lot of attention to this matter. Use the Average True Range (ATR) indicator. It's a really useful tool to help you determine the range of ranges where candles will go up or down. Obviously, you will want to put your TP inside that range and your SL slightly outside it.

7. Lot size - each person has a different story about how they choose a lot of sizes. There is a general consensus, however, not risking more than 2% of your account. Therefore, $ 0.10 should be placed for every $ 100 in your account. Then, specify $ 300 (minimum) per pair, or per pair, if risking $ 0.30. Easy to remember! 10 cents for every 100 dollars. If you can blow away $ 100 for every $ 0.10 per trade, then you probably shouldn't trade.

8. How to avoid reversal? Honestly, you can't! There is no way to predict the future, so you will get hit once in any way. However, what you can do is minimize your overall blowout. For each pair, make only 2 trades. If you remember in the previous tip that talked about risking $ 0.30 per pair, divide it into 2: 1. Make a trade with a TP (2) and a trade without a TP (1). If the TP hits, you pocket that money and if the trend continues to follow the trend as expected, you can earn even more. If the trend ends or reverses then losses are minimal because at least you have eaten half.


9. There is NO correct way to trade. Stop listening to people talking about whether the best way to trade is fundamentals or a bare chart or just use a few specific indicators. There is no right way to do this. It's as flexible and unlimited as your imagination. Use indicators, but if you are suitable for a fast trade, just do it your way! Just remember that managing your trading is always the right way and always comes first.

10. Only trade on the money you are willing to lose, do not take the rent to trade!

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