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    Budi Mulyono
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    The document provides tips for trading forex, including: using multiple time frames to identify trends, with higher time frames showing clearer trends and lower ones signaling buy/sell opportunities; keeping your strategy simple; following trends until you have a reason not to; always using stop losses; and focusing on major currency pairs like EUR/USD which are easier to trade. Key advice includes following your trading plan, learning to identify support and resistance levels, and paying attention to momentum over individual price changes.

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    The document provides tips for trading forex, including: using multiple time frames to identify trends, with higher time frames showing clearer trends and lower ones signaling buy/sell opportunities; keeping your strategy simple; following trends until you have a reason not to; always using stop losses; and focusing on major currency pairs like EUR/USD which are easier to trade. Key advice includes following your trading plan, learning to identify support and resistance levels, and paying attention to momentum over individual price changes.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    5 views1 page

    Important Rules

    Uploaded by

    Budi Mulyono
    The document provides tips for trading forex, including: using multiple time frames to identify trends, with higher time frames showing clearer trends and lower ones signaling buy/sell opportunities; keeping your strategy simple; following trends until you have a reason not to; always using stop losses; and focusing on major currency pairs like EUR/USD which are easier to trade. Key advice includes following your trading plan, learning to identify support and resistance levels, and paying attention to momentum over individual price changes.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Just a few thoughts of what I have found!

    does anyone have their own wisdom they would like to add!

    • Forex is great but you trade at your own risk! Not mine!
    • Find a good honest broker that doesn’t bet against you-I use OANDA
    • Candles work- I don’t think they should! I don’t know why they do -
    they just do!
    • The more tools you use the more you lose! One or two is lots-really!
    • Multi-Time frames are the key to trading forex.
    • The higher the time frame the easier it is to see the trend & so trade.
    • Use lower time frames as for buy & sell signs.
    • Learn as much as you can from anywhere you can.
    • KISS works best ( keep it simple smarty)
    • Follow the trend- till you can don’t trade!!!
    • Follow your trading plan- till you can don’t trade!!!
    • Learn to draw Trend lines - Support & Resistance & Channels- Its
    money in the bank.
    • You will have loses – So have a stop loss always - I use 35 pip SL.
    • Don't be the 1st one to the party- Don't be the last one to leave the
    party.
    • You don't have to get every "pip-pip" to have fun
    • EUR/USD, USD/JPY, USD/CHF, EUR/JPY Are the easiest to trade and
    in that order
    • Price is a false mistress- momentum is a faithful wife!!

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