Currency Trading Tips - 4 Fantastic Tips to Skyrocket Your
Earnings From Currencies
Are you in need of currency trading
tips? Then you came to the right
Its a fact: 90% of currency traders
lose money. Most give up quickly. If
you want to be one of the winning
10%, then you'd better not ignore
these currency trading tips. Follow
these tips and you can ensure
reliable, consistent profits.
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Discover “one of the best trading books ever” according to one recent poll: see the
proof here – Dirk Du Toit.
Logic Versus Emotions
Currency trading is actually a lot like poker. It is a battle between logic and emotions.
Your emotions are always trying to take over but you can't let them. Always make a
decision based on logic.
Use Stops Religiously
Use of stop losses is essential if you want to trade for a living. Some people are
superstitious and they believe that placing one is bad luck, like an admission that
they could be wrong.
Well, all traders get it wrong, no matter how right they thought they were going to
Set a stop loss with every trade. Also, if the price moves in the right direction then
don't forget to move the stop loss too. The last thing you want to do is see a reversal
that goes all the way back before your stop is executed.
Use Metatrader 4
Some brokers have their own bespoke platforms. But most serious currency traders
use Metatrader 4 (also known as MT4). All good brokers support the use of this
If you use a standard piece of software like this (it's free too) then you can trade
strategies with other traders. You can even formulate your own strategies and
"backtest" them against historic data.
MT4 is the most popular currency trading platform around and with good reason.
Don't Trade Out Of Boredom
You can only trade and make money when you spot a good opportunity. If you don't
know what these opportunities are then you need to read up and get more