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1. Understand how the Forex market works, including currency pairs, pips, and leverage.
2. Develop a clear trading plan with specific entry, exit, and risk management rules.
3. Always use stop-loss orders to protect your capital and limit losses.
4. Risk only 1-2% of your account per trade to avoid significant losses.
5. Trade with the trend, as it’s often safer than going against the market.
6. Avoid overtrading; quality trades are better than a high quantity of trades.
7. Use technical and fundamental analysis to make informed trading decisions.
8. Stay updated on global news that can affect currency values, like interest rates and geopolitical events.
9. Keep emotions in check—fear and greed can lead to poor decisions.
10. Continuously learn and adapt your strategy based on market behavior and personal experience.