WARNING! Do’s And Don’ts Of Forex Trading 2020.



Forex Trading is the largest financial market in the world in terms of activity. It is a giant market with $ 5 trillion traded each day. With the number of traded volume comes great opportunity.

Traditionally only the rich have access to high-volume trading on the exchange but now, thanks to leveraged trading, virtually anyone can compete and trade in the Forex market.

There are many online brokers who facilitate trade with leverage, giving accessibility to traders with less capital who want to trade higher volumes.

It is important to consider a few key basics before entering the market with a ‘buy’ or position ‘sell’.

Though Forex trading is vastly popular all across the world that’s why many people are joining the FX market every single day. As a result at the beginning, they face various confusion regarding what they should do or shouldn’t do. For them, this guide will be an asset.

Here are the deets…


Having a trading plan!

It is massively important to have a game plan and therefore why it makes it to the top of the list for this section. Not only is this true in sport, but this is especially true in the Forex. Traders need to be some sort of clear purpose and objective when entering the market. Forex trading is regarded as an aggressive market so having a plan is essential to success.

Without a plan, trading may also be considered gambling.

Do your own research

Knowledge is power so make sure you do some reading on the current market trends and political situation that may affect the currency in certain countries.

Politics is a good place to start when looking at how the currency can fluctuate as well as other factors such as war and natural disasters. In August 2005, Hurricane Katrina devastated New Orleans cost the US economy about $ 45.15 billion.

Epidemics can have a damaging effect not only on the populous but also on the market. Ongoing Coronavirus has been hammered in the market today and the last few weeks. 

Global stock markets have been gripped by fear and English Stock markets saw their biggest fall since the financial collapse of the year 2008.

Besides Footsie’s worst day in 12 years, the DOW has 2,000 points removed as many economists are concerned over the looming global recession.

Also, try to generate your market predictions by yourself. Because it is very hard to get a trustworthy and profitable signal provider these days.

Have Patience!

Patience is a virtue and a very important element when viewed in the direction of trading successfully. Being patient helps to keep each pattern of impulsive behavior at bay.

Set A Goal

Set yourself a  target of how much you are willing to lose. Not only that set itself the target profit you will be happy with.

Trading Platforms such as MT4 has a tool where you can set the ‘take profit’ to be desired and the ‘stop-loss’ where you will be stopped out of a trade when the profit or loss amount is triggered. This is very useful in the long-term position and if you can not log in to your trading account.

So now we have seen the Do’s. Now let’s explore the Don’ts-


Do not overcomplicate strategy

We know that having a strategy is essential for trading success. Having a clear purpose helps maintain discipline but try and keep things simple. Having too much to think about may serve to cloud judgment.

Do not let your emotions take over.

Humans are highly emotional and even more so when under stress. Stress can be magnified when money is involved!

What is important in the trade is to not let emotions affect the current ratings in the open position.

The big 2 emotions traders will experience at some point or other are:

  1. GREED

Greed, one of the seven deadly sins and very dangerous attributes to have when trading. Greed makes humans behave differently and without clarity. It is the feeling of desire rather than necessity.

Greed may affect traders in several ways. Greed can make traders ‘overtrade’. Overtrading is the sense of chasing losses or having some open positions to try and compensate for the loss.

Traders can and will take unnecessary risks if greed begins to seep into the soul of trade. This is why having an important strategy and – stick strategy even more. 

Traders must have certain advantages in mind in the pre-execution. Maintain discipline and take advantage of the challenge for most.

Fear can leave traders feeling like a deer in headlights and weaken us – produce against or scenarios.

When trade began to creep into profit, fear can make traders close positions too early in fear that prices will begin to fall when in fact the market is moving upward.

Similarly, fear can make traders close positions late when the profit target has passed and the market began to shift against us.

New traders are particularly vulnerable to FOMO – fear of money-losing. Traders open positions without thought or analysis, fear that an opportunity might go when in reality, it does not exist in the first place.


  • Do not fall into the trap of revenge trading
  • Once you have reached your profit target, take it. Utilizing the ‘take profit’ feature to reduce temptation.
  • Do not use the money you can not afford to lose!
  • It goes without saying, only invest capital that you can afford to lose!
  • Trade should be taken seriously. With the right mix of analysis and research, Forex trading can be a lucrative side income earner.
  • Do not turn a trade into gambling and staying within budget parameters.

Good luck! May you have a successful trading career.


Share this

8 thoughts on “WARNING! Do’s And Don’ts Of Forex Trading 2020.

  1. 0


    Do not get involved with this outfit. They have no customer service. You put money in and you can not get it out. They keep requiring documentation and then deny it. I have been trying to get my funds for over 6 weeks. I think my next step is to get in touch with Interpol and file a fraud Claim against this outfit. Mark my word and be careful with them .Do not waste your time and money on this scam company. All they do is keep calling until you make the deposit. Once they realize you won’t deposit anything else, they will never reply to your emails. And forget about calling them, they’ll hang up on you. Rude and unprofessional.

    Their so-called “advisors” are pieces of garbage. Sebastian and Federico Demczylo are liars. They’ll promise you anything to get your deposit. Then forget about trying to contact them, not to mention to make a withdrawal, you will never get your money.

    In these kind of cases with the fake broker over the internet my advice if you have already invested with those liar,call them back and get a refund from a fraud broker wouldn’t be possible for you..In this i will advice to get intouch with FASTFUNDS RECOVERY TEAM and report this company. they are fraud and they also fight against various investment scam they have been helpful to the society by recovering stolen funds from all this fake broker.VISIT THEIR WEBSITE FOR MORE ENQUIRIES AT FASTFUNDSRECOVERY.WORDPRESS.COM OR ADMIN EMAIL: [email protected]

    Perhaps, you have been scammed of your hard earned monies online, well, the cyber operatives wealthy Recovery Firm are a team of recovery experts who specialize in assets and funds recovery which usually include but are not limited to funds lost to online trading scams, Crypto currency scams, dating scams. they utilize distinctive and creative strategies to help recover funds which have been illegitimately lost to online fraudulent persons. .


  2. 0

    Excellent blog! I really love the simplicity of your content. Do you have any tips and hints for aspiring writers? I’m hoping to start my own site soon but I’m a little lost on everything. Would you suggest starting with a free platform like WordPress or go for a paid option? There are so many options out there that I’m completely overwhelmed… Any tips?!
    Hope you Read zamob on my Site and give me some tips. My name is Jeremiah, please mail me at [email protected].

    Follow if the above link doesn’t work.

  3. 1

    Almost everyone got scammed as newbie to bitcoin investment. The reason is because most mining companies are scam.
    Irrespective of how wise you are; the fact that you’re new to bitcoin proves it enough that you could be scammed. There are slim chances of recovering your bitcoin if you aren’t careful. Because there are recovery companies that scam too. I can only recommend Bitcoin Binary Recovery LLC (, because they were the reason I recovered my lost bitcoin also. Yes, I was once scammed like you, and it’s devastating and saddening enough to be depressed. You can search for them too. I guarantee your recovery up to 95%.
    Pls upvote if you find this helpful.

  4. 0

    Have you gotten your bitcoins stolen from your wallet or invested in an ICO that turned out to be a scam? you are not alone because this happened to me too. I initially lost GBP257,000 in just three months from Cryptoallday and a couple of others. I contacted the authorities and they referred me to recoverywealthnow360 on google mail who helped me recover all my funds within 2 days. I’m speaking up to improve awareness of these cryptocurrency thieves and help as much as i can to reduce victims to the bearest minimum.

  5. 0

    I have been on the internet lately, looking for something to read and that is how I came across your site and saw this article of yours. So, I decided to see what it says and I find out that it is so amazing. You really did great work on your site and the articles you posted on it. You really take your time in writing this article and they are clearly detailed. Once again, you are good at article writing and I will be coming back to view more article updates on your site.

  6. 0

    I’m so much happy because now I can at least afford to pay my bills and take good care of my family. All thanks to Mr Damian that has brought happiness back Into my life and I reinvested $1,000 to my greatest surprise I got my profit making $10,000 without any additional fees I’m grateful indeed Mr Damian platform accomplished my dreams without no stress and I got what I was expecting more than what I was suppose to have as my profit.
    For more information
    Contact him on his WhatsApp on +1 (657) 210 1293.

    I won’t force anyone to believe me but when you keep doubting you remain poor, ever since I started trading with Mr Damian Forex Trade, I no longer have issues paying my bills, I was able to earn $10,000 within 2week.

Leave a Reply