Build a Forex Trading Account You Can Be Proud of

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Re: Build a Forex Trading Account You Can Be Proud of

Post  XREDXR on Thu Nov 11, 2010 6:37 pm

Go through the motions of building the foundations to your career. Paper trade first until you are consistently successful, comfortable and confident with your strategy. Use a Forex trading demo account next to get to know your Forex broker's trading platform which will be a great help when you start to trade a live account!

Do you know your risk to reward strategy?

This is the amount you are prepared to risk in order to make a gain and is typically based on a 3 to 1 ratio. So if your stop loss was 10 pips below your entry point for a long trade, you would expect your trade to achieve a minimum of 30 pips.

This takes care of the risk management of your trade but what about the risk to your Forex trading account? How can we best protect your hard earned money and trading capital?


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