Forex Commandments

Know when to hold them and know when to fold them is what Kenny Rogers said in the song The Gambler. Many forex traders are gamblers, especially in their early days. They take big gambles and cross their fingers. If you are a lucky person, that strategy might get you by for awhile. It’s the one big loss that you keep expecting to “come back” that will humble you and bring you down to reality.

The reality is that forex trading is risky. It’s full of risk. The markets move fast and violent, and traders armed with leverage walk into those markets after being sold on a brokers ad that says “making money with forex is easy”. While it’s not actually difficult to make money trading forex, you have to do it right.

I’ve put together 10 Forex Commandments to help you keep perspective and stay the course.