Do you want to listen?
Don’t rush with your trading decisions. Pay attention to the signals and double check your entry and exit points.
Analyze your performance. Take note of winning and losing trades. When you make a mistake, let it teach you.
It’s time to make some more trading friends. If you are an active member of the trading community, you can learn a lot.
Back to basics. Evaluate the effectiveness of your trading strategies. Run your strategies on a demo account and analyze their performance.
A well-planned strategy will bring you better results. Develop one using fundamental and technical analysis.
Find a good balance between business and life. Try to implement long-term strategies if day trading puts too much pressure on you.
Check if your broker still has the most favorable trading conditions: if they charge commissions other than spreads and if they have swap fees.
Always remember to set stop loss and take profit. This way you will protect your trade from unexpected price fluctuations and your emotions.
Do not use too high leverage. This can increase your profits, but it also increases your risk.
Do not spend more than 4% of your capital on a single trade. Do not enter too many trades at once.
Each week, discover a new indicator and how it works. You will know a lot of technical analysis in a month!
Try trading in other financial markets. You will likely receive more entry signals and gain more experience.
REMARK: We made these astrological predictions to cheer you up a bit! Always trust data and analysis when trading Forex. Don’t forget to learn the basics of Forex trading. OctaFX offers many educational materials on its website and YouTube page that will help you start your Forex journey.
@octafx_official to learn more.