#12: Look at similar pairs e.g. no less than 4 US Dollar pairs to “determine if the pair will be moving based mostly on the US Dollar or the opposing currency.”
#10: Longer-term charts (ie. monthly, weekly, daily) are more imporant than shorter-term charts (ie. 1-min, 5-mins, 15-mins).
#9: Educating yourself is better than using trading robots, etc…
#7: Focus on getting a low bid/ask spread.
#6: “Have a backup power supply and internet access available at all times when trading… Bottom line: be sure to have some redundancy incorporated into your trading plan; treat this like a true business and it will reward you like one.”
#5: “Break your trade order into 2 or 3 smaller orders” instead of one large order. That is, don’t go all in at once, allowing more control.
#4: Success is 1/3 psychology, 1/3 money management, and 1/3 trading strategy.
#3: Check world news release and country-specific before opening new positions.
#2: Don’t move your stop loss for any reason and use tighter stop during volatile market condition. Sounds simple on paper but often difficult to follow in the thick of battle.