The basics

 

  1. Spend some bucks on education that is the best inversion in your new business.

 

  1. Time, that is so important, don’t get addictive on trading, give yourself a limit time to trade, if you forget this rule you will loose your friends and may be your family.

  

  1. To make a living you need at least a 10.000 $ account, other than that will not give you enough kickback to pay your bills, we don’t expect more than 20% over account equity with proper money management, that means on a 10k account gives you 2.000$ a month.

 

  1. Patience and discipline, make yourself rules and follow them strictly

 

  1. Experience, trade a Demo account ONLY for proving your system, as soon as you find out that your system works, get a small Live account between 100 to 500$ and take micro lots as small as 0,10$ for pips until you feel secure and rise your risk. The emotional point in trading Live is very important, try to think about hunting pips not money

 

  1. Money Management, don’t trade more than 2% max of your account equity a trade, try to trade at the beginning only one currency. Every currency has a different character and has different kind of moves.

 

  1. Never deal the forex with money that you cannot effort too loose, especially house money. Never ever take a credit neither use your credit card to fill your account.

 

  1. There are some more but as Moses lost 10 rules coming back from the hill I also lost some at the moment, we will update that with the time.

 

Here a very good example of a trading room, thanks Freddy for the photo.

 

 

Cobraforex

scalping ain't easy