Forex Trading Tips
Tip F. Did we say: "Have your stop loss order in place"?
Yes we did. Anyway, we will repeat it one more time. Even if your trading system needs no stops, still have it. Not that you are going to use it, but just for the safety of your capital. A sudden huge move in the market may cost you a big portion of your trading account especially if margin call is triggered.
We use insurance for many things in our life, why don't have one for your trading account? For trading systems without a stop loss orders — put one on a decent distance, for example 100+ pips. Also do not use too tight stop orders as they will most likely be hit more often then you need to.
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Forex Series
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