Be sure you can focus on your trading when you are doing it

Jul 31, 1:18 pm
84. Be sure you can focus on your trading when you are doing it

The forex market trades very actively at certain times, especially after the release of major economic data, and so it can easily move a big figure or more when you are distracted from looking at your trading screen even briefly. This can be potentially devastating to your forex account if suitable stop loss orders have not been entered into the market via your forex broker. Unless you plan on having protective orders in the market at all times, you really need to learn to focus on your trading positions and to avoid taking positions until you can focus on them. If you family or business requires your focus for some reason, consider squaring your forex trading positions or placing protective stop loss orders with your broker until you can watch them again properly.

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