How not to lose money in Forex.
How not to lose money in Forex. Simple sovetiki, they know everything, but unfortunately few people use.
1) Figure FX pairs – almost completely random. Indicators can find patterns in the history of the bars, but the chance that these patterns recur in the future – is minimal. It is better if you consider that all the indicators are useless by default. A good indicator of this is not the one that works well on historical data, and one that somehow continues to operate in spite of everything, when everything else is falling apart.
2) Despite the chaotic forex charts, they still come across patterns related to the influence of strong players, followed by the resonance of the crowd. Shapes, patterns, levels – this is the response to such actions, and they can learn to see and use.
3) Broker – your enemy. Slippage, increased spread, requotes, candles suddenly reach stops and so on – this is their way to squeeze money from you. All your losses come to them in his pocket, their goal – zazvat you and extract every last penny. If possible, choose ECN brokers will have more chance of a better trade execution. You can never trust their brokers and advertising.
4) Strategy Tester in MT4 and MT5 uses fake tick data. Counselors will never work in the real world just as in the tester. The same goes for demo accounts – they have a perfect execution of applications that can not be repeated on a real account. But still, test new strategies on a demo account, and only then, if successful, move on to a real account with a minimum lot. But do not be surprised if the real results will be negative.
5) Panic or extolling stocks, currencies, indices in the media – lapping mist, you will lose all based in trading on the news.
6) The best strategy – is the one that you find yourself in the years of practice. Protect her, and earn it. Never do it by telling the public about it, using signals or creating Advisor. Any public strategy sooner or later fall into the hands of strong players, and will cease to be profitable forever. Unclean brokers themselves can rip your deal in large volume and thus also to break the strategy. Pride and greed are all broken.
7) Learn how to embed a real tick data in the MT4 strategy tester. Or wait until this opportunity to appear as standard in MT5. The tests only in such circumstances can be considered acceptable. Never believe in the good result obtained in the tester. Always use the derived parameters for fronttesta to confirm income. Do bektest + fronttest tests as possible for you period of time.
8) In case of events of the forecast – based on the development of events according to the worst scenario.
9) Stop Loss – always. Martingale, Lok – ever. Lock – this is the same just to close a deal here to see prices and now, but for weeks waiting for better times. Martingale – this casino, ruthless and cruel, and it will put you out the door in his underwear.
10) In order to make a profit – you need to first get rid of losses. Do not try to recoup by increasing the lot or risk. Just get out where the bad. When all the holes have been removed, and losses will not – you will have no choice but to make a profit anymore. In the first place is always looking for something that takes your money and get rid of this.
11) If you find yourself sitting in front of the monitor and try to mentally make a schedule to move in the direction of your trade – that everything is bad, close your position, Humble yourselves and relax. Do not go against the forex and do not think that you are smarter.
12) monitor the level of equity, rather than the balance line. Only equity reflects the actual amount of money in the account. This applies to trading accounts, signals, monitoring and so on.
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