New Strategy Announcement: AFX-Select
We are pleased to announce the launch of our cutting-edge strategy, AFX-Select. This unique strategy is highly selective and combines the Best of the Best (BOTB) of all of the www.aforex.com trading methods and strategies.
The objective is to send trades from our AFX-F, AFX-Breakaway and AFX-Trader101 trading systems based on what meets BOTB standards and to trade only the best and most potentially profitable trading opportunities.
What makes AFX-Select so special?
After hours and hours of research, testing, and analysis; our trading desk has determined the most profitable trading opportunities available from all AForex.com systems. This has resulted in the creation of the AFX-Select trading strategy.
Our professional Forex Trading Desk takes a hands-on approach and oversees all trades taken in the AFX-Select platform. These exact trades are instantaneously copied directly on your trading account anywhere in the world, with no work or intervention on your part.
LIMITED TIME INTRODUCTORY PRICE $149 monthly. (save $50 monthly!)
Learn more and join now.
If you cannot deal with losing slumps, you should not be trading.
Even Babe Ruth, famed for his incredible baseball batting ability, went through losing slumps. Losing is a natural part any competitive activity, including trading. If a person cannot deal with the financial or psychological consequences of trading slumps, then that person should not be trading. On the other hand, a trading slump does not necessarily make a person a bad trader.
Do not risk too much on one position.
Whether you trade manually or through an automated Forex trading strategy, traders place too much emphasis on each individual trade. They simply expect too much on that individual trade and as a result, they risk a significant amount of their capital on one trade. When choosing a trade size, it is better to start with a smaller position and gradually increase as your account grows. Take into consideration not just how much you will risk with each trade, but think about how many trades will be opened at a time and the overall risk. Adjust your trade size accordingly.
Never make a decision based on hunches, premonitions, or psychic advice.
The professional technical day trader only makes decisions based on the trading rules. We never make trading decisions based on inspirational dreams, horoscopes, wrappers in your Chinese fortune cookie or the advice of soothsayers and psychics.
Do be flexible.
There is no single surefire method to trading because there there are so many types of market conditions. The Forex markets trend, reverse, break-out and consolidate. For each market condition, there are various rules and trading criteria. No single strategy to date that we know of has held up under all trading conditions. Taking advantage of multiple trading strategies, such as found on the www.aforex.com website, can help you trade in various market situations.
Emotion, the biggest trader killer of all, has to be removed.
Please read this article to learn how you can remove emotion from your Forex trading.
Do not force a trade when market conditions are not favorable or your trading criteria is not reached.
What about those times when there is no movement in the market for days on end? We believe that if trade criteria is not met then SIMPLY DON’T TAKE THE TRADE, even if this situation lasts for days.
What trading advise have you received over the years that you have found useful? Leave a comment and you may be selected to receive a free 7 day Aforex Automated Signal trial.