Every Business have rulesPhoto by Nikita Kachanovsky on UnsplashTraders lose money in every kind of business not because they are bad at what they do, but because every business has rules that govern it, and if those rules are flouted, the consequences usually lead to failure on the part of the trader. Forex trading is just like every other kind of business where traders buy and sell commodities, and in the world of trading, whether digital or physical trading, you must adhere to certain rules if you intend to stay in the business long term. In this article, we will dive straight into the 7 Golden Rules that govern forex trading.Before we dive in straight into the 7 Golden rules, I will like to mention that there are two main reasons why traders lose money in the Forex market, and they are: very bad trading system and neglect of trading rules.The 7 Golden rules:Invest in Forex education: This is the first and most important rule that must be adhered to when venturing into Forex trading or even if you are already trading. Make sure you invest wisely and solidly into acquiring the necessary education as regards forex trading. Most traders who skip this Rule number 1 most likely leave Forex trading after a very short period because knowledge is power over everything.Always use a Demo account: After acquiring the necessary Forex education from experienced traders\/experts, ensure that you start out your trading journey with the use of a Demo account. This cannot be overemphasized because without the actual practice of what you have learned, you cannot actually improve on what you have been taught. Demo accounts provide you with Virtual trades on real market conditions, hence you don\u2019t actually need your real money to trade in the real markets in\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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