Know when to exit a trade

Know when to exit a trade. If you had to choose which forex trading tips you should remember, this one would probably be at the top of the list. Indeed, whether you are winning or losing, you must know when to let go. Don't maintain a losing position in the hope of a trend reversal. This kind of hope-based strategy may lead to greater losses. As for winning trades, although you should let profits grow, you should also know when to close your position to avoid trend reversals.