Invest in Forex - 3 Unchangeable rules in Forex Market
June 28, 2006 · Filed Under Forex, Learn How to Invest
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- Trade according to the Trend - Trend is just like the current in the sea. It is hard to swim against the current. So as market. No matter you invest long term or short term, you must invest according to the trend. So I think the first basic step that we should learn before we jump into market is learning how to read trend.
- Stop loss - We are not a god, and we make mistakes often in life or in Forex. To survive, we must learn how to protect ourselves from big losses. An Exit and Entry strategy should be planned before investing in Forex. Be discipline and always trade according to your plan. Be flexible and modify your plan from time to time to meet your trading behavior.
- The Resistance and Support - Knowing how to read and analysis the resistance and support level is a basic but important investing skill in Forex trading. Every one of us hopes that we can earn big but loss small in trading. In forex, the price does move in a straight line. It move in a current format - up and down. This is because the effect from the resistance and support point and also the real time trading (buy and sell) of investor. So you can maximize your profit if you know the resistance and cut down the losses if you know the support.
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Above are the 3 rules that I can think about right now. I believe there are more as Forex is a always changing market. ÂÂ
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One Response to “Invest in Forex - 3 Unchangeable rules in Forex Market”
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Very interesting blog, lots of information. I like it.
Graham
Profit Vortex