What Are Pips In Forex?
The forex market is by far the largest market in the world, dwarfing all others by comparison. You will have your own preferred swing trading techniques and methods and in light of that, I have compiled an amazing list of swing trading strategies in this website where you can browse through, study and hopefully you will pick one that works best for you.
Now, I am not saying that you cannot trade profitably on the 4HR charts; I am saying that it is very difficult to make consistently profitable trades when you do not have a good perspective of the markets longer term movement—especially when trying to trade an intermediate time frame like the 1 or 4 hour time frames.
I am following the steps to the tee but it seems that everytime I do a channel 15 min chart, EUR/USD; Buy, Sell, profit 10 pips buy above 10 pips sell, stop loss, 30 pips below and above the channel lines but my result was that the two orders just disappeared after a short time.
Forex is similar to commodities…i.e. very volatile and can be affected by things which have no direct baring on the underlying asset itself (i.e. the stability of the currency, GDP etc.) I would be very carefull…it is much like playing craps in Vegas…best gamble in the casino, but still a gamble.
Account risks and position sizing: Using a Fixed Fractional Position sizing method , each trading position will put at risk no more than two percent of funds remaining in my trading account to reduce risks as funds dwindle and increase risks as funds increase.
Mark Boardman is part-time trader – and although he might not have the fame, nor the stature of some of the other authors on our list his book The Forex Set & Forget Profit System” is well worth the read, however, it will be of more benefit if you already have a good understanding of Forex trading.
There must be a reason, a clear one so that no one in india could go ahead and think about it. well i do respect our indian government but you know very well about the difference of indian market and forex markets, as you worked in both of these market.
The bottomline: With the legal and operational risks involved in overseas currency trade, resident Indians who have the know-how and want to benefit from forex movements should trade in the exchange traded currency derivatives available in the country.
I am a swing trader and i am used to trading micro lots which a high risk/profit ratio but this was because i usually place lots like 0.05 or even less and this allows me to make consistent profits but i once tried trading a mini lot of 0.1 which is not too high though but not ideal for swing trading that has a low capital.
Can you make and provide an e-book comprising all the link articles on this very particular article (Become a Profitable Forex Trader in 5 Easy Steps) it will be very easy to read and study (even without the internet connection) if it will be in e-book and save to any ipad or laptop.
Even if, all the platform provides the same binary trading options, they will differ in their various offerings like bonuses, payouts, customer support, transparency, the number of assets, option types, expiry durations, deposits and withdrawal processes, restrictions in deposits, withdrawals and investments, amongst various other aspects.
While data on how much volume of trade is routed to Internet trading portals offering forex trading are not available, the trend seems to have caught on. As the RBI has observed, many Indian residents have fallen prey to tempting offers and lost money heavily.
The way I like to do this is to tighten up 2/3rds of my position in the usual fashion and leave 1/3rd open with a stop loss at the entry level at which the trade is currently (trading) at. That way if you get stopped out at 2/3rds of your trade, you will still have 1/3rd open with enough breathing space to offer up additional profits.
This is a very large question, as many important factors other than Forex robots influence your trading profits, the first and most important of them is yourself and how self confident you are, your available investment capital, the broker you are trading with, the currency pairs you prefer to trade, the market conditions while trading and finally the Forex robot you would choose!
This goes along with developing your discretionary price action trading skill; you have to learn to read” the market and get in touch with its ebbs and flows…it sounds a little cheesy maybe, but the market talks via price action, and if you listen” closely enough to what it is saying you can understand where it is most likely to go next.