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Welcome to Forex Trading Guide

Article

Two Timeless Rules in FOREX Investing
Adrian Pablo

RULE #1) ~ Cut your losers; let your winners ride.

One important thing that every new trader must know before entering this highly profitable business is that life is not perfect, even in FOREX land, and you should always know one fact: YOU WILL HAVE LOSING TRADES.

Every FOREX trader does. The key to being a consistent, predictable, reliable trader is to, at the end of the day, add up more wins than losses. And, when you KNOW(based off your trading rules), without a doubt, that YES, indeed you are, in a losing trade, don't keep losing money (lowering your stop loss) just to *prove you are right* or your rules are wrong (however you want to look at it).

All traders have to face it - you can't turn a donkey into a ferrari. You can't change the strips of a zebra and you can't turn chicken poop into chicken salad. The best trades are usually "right" immediately (the techniques, rules, methods and strategies you can learn in my website will be your best indicator for just what a "right" trade really is).

Remember, people have been trading the markets for a hundred and sixty years. The smart traders know there's going to be another trade. Cut your loses short and compound those winning positions.

RULE #2) ~ Thou Shall Not Trade the FOREX Without Placing a Stop Loss Order.

When you place a STOP order, right along with your ENTRY order, via your online trade station, you've just automatically prevented a potential loss from "running" too far.

Before initiating any trade, if you haven't already figured out at what point you would be wrong and would want to cut your loses or, at the very least, reevaluate your position from the sidelines, then you shouldn't be putting on the trade in the first place.

Show me a FOREX trader who doesn't use stop loss orders and I'll show you someone who loses a lot of money.
About the Author

Adrian Pablo; Forex trader and freelance writer.

http://www.1-forex.com


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The Australian and New Zealand dollars strengthened as Asian equities extended a global stocks rally, spurring investor appetite for higher-yielding assets. Australia’s currency reached a five-month high after a report showed the nation’s ...

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Australian Dollar Reachs 5-Month High as Stocks Rally; N.Z. Currency Gains

The Australian and New Zealand dollars strengthened against the U.S. dollar after a report showed employers in the world’s biggest economy added more jobs than forecast in January, boosting appetite for risky assets. The Aussie reached a five ...

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Australian, New Zealand Dollars Rise as U.S. Jobs Report Boosts Demand

(RTTNews) - The Australian and New Zealand dollars declined against their most major counterparts in early Asian trading on Friday as most regional stocks fell ahead of crucial jobs data from the U.S. later in the global day. Among major indices, Japan's ...

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Australian And New Zealand Dollars Slide; U.S. Jobs Data Eyed

(RTTNews.com) - In Asian deals on Tuesday, the Australian and New Zealand dollars strengthened against other major currencies as Asian stocks rose amid some fairly encouraging economic reports from the region. The aussie and kiwi also gained ...

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Australian And New Zealand Dollars Advance On Stocks Rally

Jamie – Has tested and held the 61.8% retracement of the rally from the October low and series of November lows from 9665 to 9690. Remember, the probability of a reversal increases with the beginning of a new month. Yesterday’s inside day at ...

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WELLINGTON, Feb 1 (Reuters) - The Australian and New Zealand dollars edged up on Wednesday after China posted a higher-than-expected PMI reading, countering fears of a sharp slowdown in Beijing. * China's official purchasing managers' index (PMI ...

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Aussie, New Zealand dlrs edge up on China PMI

The New Zealand dollar is the strongest performing currency against a mixed greenback in early US trade with the pair advancing nearly 0.80 on the session. Risk appetite remained well supported in European trade before weaker than expected US ...

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Euro heavy as dollar advances

WELLINGTON (Dow Jones)--The New Zealand dollar was a touch firmer against the U.S. dollar late Wednesday, but hit a record high against the euro as Greece's debt-swap deal with private sector bondholders remain unresolved. The Kiwi traded mostly ...

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New Zealand Dollar Higher Late; Touches High Against Euro

WELLINGTON, Jan 26 (Reuters) - The New Zealand dollar hit a three-month high against the U.S. dollar on Thursday as a more dovish than expected Federal Reserve lifted risk sentiment and overshadowed a soft rate outlook from the Reserve Bank of NZ.

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