If you want to learn currency trading the right way is necessary to take into account that 95% of traders lose – not because it does not try, its just that the poor receive Forex education and this results in a rapid annihilation. Here, we will give you a plan to develop and implement a strategy of forex trading for success in four easy steps.
1. Accept responsibility If you want to make money trading currencies, then they must accept responsibility for his fate – no one else is going to give you the success you have to give yourself. This means no blaming your broker currency, a guru or the currency markets, which are on their own. That’s not bad place to be, like all successful traders in currency trading accept this fact and love the challenge. If you want to make money in forex trading can be, there is nothing to stop you and everything related to trade forex successfully is a specific learning. Do not be fooled by his easy, its not and with the rewards offered are not expected to be good.
2. Accepting these facts to the success Currency Trading The most important fact to accept is that currency trading is not a game of chance certainties, predicting the market and scientific theories, and accuracy is a lie perpetrated by sellers and will not succeed. You’re like a successful card player just play the odds of high but rather from the hands of their trading opportunities. You bet big when the odds are in his favor and fold when it is not that simple and that will make you a lot of money if done correctly. Accept that you have to have confidence in what you are doing (which comes from education and self-knowledge of his personality), this then gives you the discipline to follow forex trading system. Of course – if you can not follow the forex trading system with discipline, has no system in the first place! Markets can be frustrating and you have to wait for the right opportunities, but you can win if you get to learn currency trading the right way. Now let’s see the method to the success of foreign exchange.
3. Your forex trading system Building a trading system should be based on the following points and if I work smart and get the right knowledge, you should only take a couple of weeks to mastering the basics and have a robust forex trading you can get the chance on their side. 1. Use a long-term trend following system 2. More information about support and resistance and the timeless method of outbreaks – if you do not know what you read our other materials. 3. Confirm any trading signal oscillators run with momentum, this is the key to getting the odds on your side, if not trade with the momentum of their trade is not likely.
4. Use a money management system that ensures clearly defined exit area when you enter a trade, both for profit and loss It is also necessary: Keep your system simple! Simple systems are easy to understand, apply and are more robust than complicated. If your trading system is that many indicators and will break in the brutal world of trading and currency trading is the least few enough. You can win with a simple system based on support, resistance and only a few momentum indicators and this is very quick to build and test.
5. Achieving success Do not work hard on the market! The intelligent, only learn the education of foreign right. There are a lot of junk sold on the network. For example, most novice traders day trading love however, your guaranteed to lose money or the confidence that scientific systems are as accurate as your horoscope. These traders are lazy naive or both – do not join them or lose. Once you have built your forex trading system, they do more work on it. Many traders bang on learning all the time – but if you are unhappy with your trading system and the logic is sound, there is no need to do more work. They are not paid for effort in forex trading you get paid for being right and that does not require much work! You should only take 30 minutes or more to execute their trading signals per day and that’s it – get on with your life.
If you follow the previous four simple steps you can enjoy currency trading success. You’ll get the right currency education you need, have the confidence and discipline to implement its strategy of forex trading of high returns. Most traders fail not because they lack a method, but because they have the mindset to apply it with confidence and discipline and this point can not be emphasized enough. If you want to learn to negotiate successfully, keeping in mind the above points and that will take you to currency trading success.
The Forex trading strategy we are going to look at here is not complicated and anyone can do it, but if it is executed correctly it can make you triple digit gains or more with very little effort or monitoring.
So here is your simple forex trading strategy for big gains.
The first place to start is with the fundamental supply and demand situation.
This sets the tone for the longer term trends that last for months or years and these are the trends you want to be in on.
Currencies move in line with these fundamentals longer term and you are really looking for strong GDP growth. If you look at the currencies that did best against the Dollar this year its countries with strong GDP and Australia led the pack against the dollar.
Two Countries that have economies that doing well compared to the US at present are Australia and Canada and these are set for far higher prices into year end.
Getting In on The Action
Currencies trend for years we all know that but its getting in on the trends that is the hard part and your aim is to get in and then simply hold the trend.
Any currency that is bullish will become overbought at some point and break and when these breaks come you buy them
Use Sentiment tools
Always use these two sentiment tools – Net Traders Positions and % Bullish to check that sentiment is not in over bought territory when you enter the trade. Start with your weekly charts and loo k for support and time your entry with your daily charts.
Risk – Reward
Don’t over do the leverage! You can get 200:1 but on a trade about 10:1 is fine for a buy and hold strategy. What you are going to do then set a stop and leave the currency alone. Hopefully it will trend for months and make great gains if you have been careful in your selection.
That’s your Forex trading strategy! It’s extremely simple but it will make money if executed correctly. The real key is not to overdo leverage have a wide enough stop, so you are not taken out by normal volatility and let the trade run. There are some excellent trading opportunities around that will enable you to do the above so take a look at them and try it.
What Are The Most Studied or you simple things in Technical Analysis Knew That You Can Use in Forex trading?, Of course MOST events will answer this Without thinking about it, trend lines, resistance and support points and moving averages. The more professional traders will think more about it and Would answer “Yes, trend lines, resistance and support points and moving averages But Who Can Use Them Alone successfully in trading FOREX. ?? Here it is my turn to answer, trend lines, resistance and support points and moving averages Are the best Simplest Ways to Achieve Success in trading FOREX and keep the area always positive. ?? Just to make it simple we Need first to state the definition of These tools and Later to know how to use and Apply Them To Our chart in order to Succeed FOREX and build a real fortune. ?? 1. Trend Line: Trend line is the line That We Can Draw Between Two more price tops or bottoms or whatever on a chart Was the type of the chart “linear, bars or candlesticks”, this line Itself Which Could Be an uptrend line Which Is Being entre drawn in a bullish market bottoms and it Becomes a good support if the price goes south again or a downtrend line drawn entre Which Is Being tops on the price chart is down and when to market it as a resistance Considered the price when to up turns to direction . Note: The line Which touches more tops or bottoms is more Stronger and the signal produced by it is more reliable. ?? 2. Channel Trend: A trend channel is The Space Between two lines, the trend line and a line parallel to it Which is always drawn on the Opposite side of the trend line is drawn so it tops entre in an up trend or direction in a bottoms-through Movement bearish price. The trend channel Requires some conditions to Give an Accurate signal, the MOST important are: To Be a wide channel, more WIDER more reliable and to last more longer. ?? 3. Moving Average: Moving average is a Mathematical average of set of prices we can say That a simple moving average (SMA) with value of 5 and Applied to close is the sum of close prices for 5 moving bars on the chart Divided to 5 (eg . the average of Friday is the sum of the previous 5 days’ week “on a daily chart Divided to 5, while Thursday’s average is the sum of the 5 days before Divided to 5 and so, the moving average is the line Which pass through These averages points “, the MOST important condition for reliability is STI STI value, more great value more reliable moving average. Note: I suggest using More Than One moving average, 2 or 3 are accepted.???? 4. Support And Resistance Points: Support points Are the price points tested Were More Than Two Times When Price was going south and it Could not pass it, support points Are Completely the Opposite. These points Are Being Used to measure the probability of turning at mean price points, These Can Be DECIDED points by using “pivot points, fibonacci rates….. etc.” Note: The more times price touches a point and turn ITS Stronger direction the more it is.?? How Can We Apply this to chart and get money, I’ll summarize this in the Following chart image, it Explains Itself, it’s a chart for GBP / JPY, return signal WAS 1000 + pips in 2 days :???? Three Were going south moving averages, trend line WAS broken “price in green circle” to support good point. “23 WAS Nearly 6% fibonacci broken”, strong signal, yes?? For the chart please visit moneytecThe best resource for FOREX trading is MoneyTec MoneyTec,? – Active Traders Community Forum, Chat. MoneyTec is an online trading community That Promotes mature, intelligent Respectful & & positive discussion in a safe environment for everyone.