Comments on: What are some lessons you’ve learned from trading in the ForEx? http://forexquestions.org/forex/what-are-some-lessons-youve-learned-from-trading-in-the-forex Answers to all your Forex questions. Tue, 07 Sep 2010 18:14:13 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Common Sense http://forexquestions.org/forex/what-are-some-lessons-youve-learned-from-trading-in-the-forex/comment-page-1#comment-248 Common Sense Mon, 01 Dec 2008 04:06:02 +0000 http://forexquestions.org/forex/what-are-some-lessons-youve-learned-from-trading-in-the-forex#comment-248 Money Management & position sizing are the most important tools to be successful. You should be able to make a nice living, even if 50% of your trades are stopped out. Greed, fear and indicision are your worst enemies. Don't use "alert" services. The drawdowns will kill you! Have an entry and exit stradegy before getting in a position. Never do something because you "think", "know" or "want" something to happen. 95% of FX traders fail. Make a plan and follow it. Money Management & position sizing are the most important tools to be successful. You should be able to make a nice living, even if 50% of your trades are stopped out.

Greed, fear and indicision are your worst enemies.

Don’t use “alert” services. The drawdowns will kill you!

Have an entry and exit stradegy before getting in a position. Never do something because you “think”, “know” or “want” something to happen.

95% of FX traders fail. Make a plan and follow it.

]]> By: mark mc donnell http://forexquestions.org/forex/what-are-some-lessons-youve-learned-from-trading-in-the-forex/comment-page-1#comment-247 mark mc donnell Fri, 28 Nov 2008 16:28:45 +0000 http://forexquestions.org/forex/what-are-some-lessons-youve-learned-from-trading-in-the-forex#comment-247 trade in the direction of the trend write a trading plan and follow it trade with stops and manage trade by moving stops trade only new, larger trends understand parallel and inverse analysis understand support and resistance if you have a substantial profit close out half of your lots and let the rest ride with breakeven stop (playing with the houses money) good trading mark mc donnell trade in the direction of the trend
write a trading plan and follow it
trade with stops and manage trade by moving stops
trade only new, larger trends
understand parallel and inverse analysis
understand support and resistance
if you have a substantial profit close out half of your lots and let the rest ride with breakeven stop (playing with the houses money)

good trading
mark mc donnell

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