I'm going to show you some of my forex trading methods that I've been using for a while now to enable myself to be able to make more money in this market. This business over three trillion dollars a day moving around and we all have a chance to see some of that money come to us. You have to be willing to learn how to do this right and have the determination to suffer through the inevitable learning curve that brings losses. If you're willing to do that, you'll appreciate my advice that much more.
How To Properly Cut Your Losses
This seems like an easy task for me, but I guess I've been doing it for a while now. A lot of people get emotionally invested in a trade and have the hardest time letting go . You have to understand that your ego isn't in a trade and cutting your losses is just business.
The trick doing this is to take the emotion out of it. Before I even make a trade, I decide on a stop loss point. This is a point I decide I will sell the currency if it goes down so far. It's just an objective way of doing it before you emotionally invest yourself in the trade. This will protect from those bad trades that just seem to suck out money from your good trades. This is the precise skill that separates the rich traders from the poor and if you can do it, you'll be that much better off.
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