forex trading system.
Clearly designed forex trading system allows you to increase the chances of success, it is the basis of professional trading, so it is important before you start trading make a detailed action plan.The main points that must be included in the scheme of work are - analysis of the situation on the market, the choice of the entry point, defining moments and tactical points of closing deals. It should be clearly paint all stages of trading to continue to follow the plan already, this will reduce the psychological pressure of the market and to protect you from spontaneous decisions.
Forex is better understood if it is to carry out the study with the help of specific examples of trading. Before his drawing you have to decide for yourself what you will sell, when you sell and how volume only when the answer to these three questions are starting to build their trading system.
1. Analysis of the situation in the forex market - there is a valid rule - the shorter the duration of the timeframe selected for the trade, the less time we spend on trend analysis. Your job is to determine the direction of the trend, it forces the oscillation range and the next turning point. Once the basic parameters defined proceed to the next step. It is advisable not to get involved in sophisticated methods of analysis, the success is enough to identify a number of laws, the discovery of which will indicate the direction of future transactions.
2. The time interval - it can be selected in advance, but a more practical choice is the duration of a time frame based on the analysis data should not dwell on only one half frame. For example, if you are driving the trend is steadily moving up throughout the day, meaning trade on the M5 when you can get the maximum return on H1.
3. The entry point - the trend line is always a certain curve, the most successful points of entry will place the end of the correction, the entrance to the market at these points will allow you to earn 5-30 points higher, depending on the duration of the transaction and the current situation.
4. The opening of the order - if this action does not need to just click the mouse on the buy or sell button, and even set the stop orders - stop-loss and take-profit, first set the value of Stop Loss, but after expose the take profit, the value of the latter there should be more.
5. Maintain position - after the order is opened and all the stops are installed, you can relax, but you can try to increase its profits, this deal should be monitored throughout the period of transition and the field in the zone without loss begin gradually tighten stop loss order and push the take profit. Thus trying to recover from all the trend.
6. Closing Order - usually performed when triggered stops, or on your initiative, if you notice a trend reversal or came news that can cause this event.
7. Analysis of the results - especially necessary during the losing trades, and is required in the preparation of any forex trading scheme. When you hold it, try to find the reasons that caused the damage in the future not to repeat their mistakes.
One of the components, on the basis of which there is a drawing of the system is the trading strategy, namely it is the basis of all the key points, so before you start to work, you must first choose the most .
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