Mason Dean Capital FOREX Blog

Mason Dean Capital FOREX Blog

Top Ten Tradings Tips

Yes, FOREX/Currency trading can be very risky especially if not exercising proper risk management and money management. Substantial losses can occur. A beginner trader must especially be very careful when trading these markets. 

In order to control/ower risk, there are certain controls a trader MUST use. Please review the following important trading tips below:

  1. Do not over trade or use too much leverage 

  2. Never loose more than 1-2% of your account balance on one trade 

  3. Always use an automated stop loss 

  4. Try to avoid trading during a major news event (Always check the economic calendar first) 

  5. Start out with a demo account in order to get used to live market conditions 

  6. Always have a trading plan BEFORE placing a trade. (Plan the trade and trade the plan) 

  7. Be patient and never be too anxious to get into the market. There are always opportunities every day 

  8. Learn what your personal trading is based on your own personality and stick to it. Do not copy some one else's style 

  9. Always perform both technical and fundamental analysis to gather a bigger picture of the market 

  10. Exercise proper money management and concentrate more on capital preservation rather than maximizing profit 

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