Welcome to the foreign exchange world. As obvious to you, this is a large universe chock full of trades, techniques and technology. Currency trading is very competitive, and it may take a while to find what methods are best for you. These tips can lead you in the right direction.
If you want to be a successful forex trader, you need to be dispassionate. This can help lower your risks and prevent poor emotional decisions. You cannot cut your emotions off entirely, but you need to put your rational mind firmly in command to make good forex decisions.
Talking to other traders about the Forex market can be valuable, but in the end you need to trust your own judgment. Always listen to what others have to say, but remember that your final decisions regarding your money are your own.
For instance, if you decide to move stop loss points …