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Finally, know when it’s time to exit your trading platform and call it a day. Trading can be emotional, and emotions will cloud your judgement: even positive ones. So, after a string of successful or losing trades, make sure to take a step back and evaluate whether it’s time to log off. It may also be time…

Letting profits run and cutting losses is an oft-repeated mantra among traders, and with good reason. For beginner traders, it can be hard to put into action – when you see a trade in the green, it can be tempting to close it immediately and realise the profit. Similarly, accepting a loss can a tricky…

There are two main ways that traders analyse the financial markets: Technical analysis involves looking at an FX pair’s price chart, using indicators and patterns to determine where it is headed next Your choice between the two will dictate how you navigate the markets, and which opportunities you’ll trade. You don’t have to stick to one…

Leverage is fundamental to forex trading – without it, you’d have to commit huge amounts of capital to earn a return. However, it is important to understand the effect that leverage has on your profits and losses. When you trade using leverage, your provider is in effect lending you the additional funds needed to cover the…

While you’re still setting out, you don’t want to risk blowing your entire account on a single bad trade. You can avoid this eventuality easily enough by limiting the capital you allocate to your positions. The standard FX trade size is one lot, which will give you a large exposure and can see losses mount up quickly….

Making a plan is an excellent start, but to truly trade like an expert you’ll want to keep meticulous records about your progress – noting down the outcome from every position and keeping track of the factors that made it a success or a failure. Luckily, you don’t have to do this all manually. Your…