First of all, open a demo account and do some paper trading until you are able to make a consistent profit. Many people make the mistake of jumping recklessly into the forex market and end up quickly losing a lot of money (due to leverage). It is essential to be patient and learn to trade properly before putting your money at risk. The best way to learn is by doing!

Secondly, try to trade without emotion. Do not keep “mental” stop-loss points if you are not able to execute them when the time is right. Always set your stop-loss and take-profit points to execute automatically, and do not change them unless you really are forced to do so. Make your decisions consistently and stick to your plan!

Finally, remember the trend is your most valuable companion. If you decide to go against the trend, you had better think about a really good reason to do so. Due to the forex market tendency to trend more than move sideways, you chances of success are higher when you trade along with the trend.