Another key consideration when you’re still in the early days of trading is not to take on too much too soon. Opportunities abound in the FX markets, but successful traders know which ones to seize and which ones to let go.
It’s best to begin by only having one trade open at a time, giving yourself enough time to properly process each position before opening another. Otherwise, emotions can begin to cloud your judgement.
You might also want to pick a small selection of technical indicators to begin with, too. Usually, using more than one is recommended to avoid false signals.