Forex Trading Proverbs
Hi,
Lets put all wise and sagacious quotations/proverbs of forex trading in this thread. Remember this thread is for proverbs only to help beginners learn from other traders' experiences.
Proverbs should be short, concise and educational, thanks.
Here are my 3 cents:
1. Never add to a loosing trade (means do not let market go against you to an unsustainable limit, better take a small loss and reverse your direction).
2. Don't throw yourself on the mercy of the market, use proper money management.
3. Never trade Forex with the money you can't afford to loose.
4. Recipe for success in FX trading: Sound entry/exit strategy, money management and emotional control.
5. Big money attracts big returns, risk is a catalyst.
6. One of the secrets of successful forex trading is to have bigger winning trades than loosing ones.
7. Making TA work consistently involves not trying to read on charts what you want to see.
8. Technicals reflect not only the fundamentals but also the emotions of the crowd.
9. Don't sell on a bullish day and don't buy on a bearish day.
10. In a bullish market buy on dips and in a bearish market sell on rallies.
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