Forex Trading Strategies PDF
Building your trading plan will be by far the most important part of your forex trading success. Forex trading is not different from what we see in the bereau de change where they buy dollars to sell pounds or sell eur to bur pound or dollars but in the case of automated forex trading, we see these trades take place in mutes or hours and even days and months depending on the way you want to trade.
I’am practicing fx in 4hr time frame ,i’am using us closing,uk if long upper shadow bar comes means ,next movement goes to up or down,i want to know ,then if long lower shadow bar comes means ,next movement goes to up or down, (SOME TIME I CAN’T UNDERSTAND upper & lower shadow OR hanging man & shooting boardetc.))can you explain this detaily with example(eur/usd pair)one day uk time signal is working well but another day us closeing time working well.
I played the game for about 6 months, and each time I played I managed to at least triple my money (except for 1 month where I purchased a stock too quickly, and failed to notice that the stock had extremely low-volume of trading (one trade every few days to a couple of weeks), and had to sit on that investment until it was traded again at a higher ask price).
Exact strategy i am using to make a consistent average sum of 400usd daily in my demo account(Forget the word demo account because i will make same in a real live account without emotions since i have developed the trading habit over two months), i will teach you in a very informal manner how you can make consistent profits from the forex market.
There is no sure-fire way to eliminate the temptation of the lower time frame charts, but if you re-read this article and some of my other Forex articles , you will reinforce the reasons why taking a slower and longer-term view on the market is the quickest way to making money as a trader.
For example, suppose you’re a day trader with a trading strategy where you risk, on average, 15 pips to win 30. After doing about 200 trades, it turns out that 50% of your trades reached their profit target of 30 pips; the other 50% of the trades went sour and triggered your stop loss.
Be prepared, you’ll very likely lose your first few live trading accounts and it’s important to make sure that (1) you trade with money you can afford to lose, (2) your trading account is not too small at the same time, (3) you HAVE TO learn the right lesson to make the losses worth it and (4) become self-aware of your problems and shortcomings.