The error made by many traders, especially beginners, is that they do not base their investment decisions according to the real reasons. When placing your order, you need to be sure that they will be profitable. Of course, not all of them will be profitable, but if you are not sure, and any profit you get, except outright luck.
Foreign exchange market is open 24 hours a day, 5 days a week. However, this does not mean that you have to trade currencies all the time. Sometimes you need to rest and relax.
Do not just look at the monitor, hoping to see a good opportunity. Sometimes, the market conditions are such that you will not have a good opportunity to enter an order. This you have to understand early on currency trading. If you can not find a good signal to the trade - do not trade, do something else. For example, read a book about Forex. Here comes into play the psychology of trade in the currency markets, and many traders are beginning to be too active, opening transaction on the principle - "just to trade."
Remember that you will not be closer to success in trading, placing orders without good reason. You will be closer to successful trading, closing the trading platform, and began to study some aspect of trade that can bring you a favor in the future. Of course, not necessarily something to learn from books, you can open a demo account and practice new strategies and see what you can do, and what not in the current market situation.
To base their decisions on sound reasoning, I recommend you to create a trading system. And not just to create and follow it religiously. In this case the system will not give the signal to enter the market, you will not make wrong decisions.
Foreign exchange market is open 24 hours a day, 5 days a week. However, this does not mean that you have to trade currencies all the time. Sometimes you need to rest and relax.
Do not just look at the monitor, hoping to see a good opportunity. Sometimes, the market conditions are such that you will not have a good opportunity to enter an order. This you have to understand early on currency trading. If you can not find a good signal to the trade - do not trade, do something else. For example, read a book about Forex. Here comes into play the psychology of trade in the currency markets, and many traders are beginning to be too active, opening transaction on the principle - "just to trade."
Remember that you will not be closer to success in trading, placing orders without good reason. You will be closer to successful trading, closing the trading platform, and began to study some aspect of trade that can bring you a favor in the future. Of course, not necessarily something to learn from books, you can open a demo account and practice new strategies and see what you can do, and what not in the current market situation.
To base their decisions on sound reasoning, I recommend you to create a trading system. And not just to create and follow it religiously. In this case the system will not give the signal to enter the market, you will not make wrong decisions.