How To Trade Forex Profitably Secrets
Today I am officially letting the “cat out of the bag”; I am going to give you my 9 BIG secrets to profitable tradingOK OK, they aren’t really “secrets”, but they are 9 very important things I personally do or have done that have helped me become a better trader. Unfortunately, there are no “secrets” to making money in the markets, but there are things that you need to do that you most likely aren’t doing, which will greatly increase your odds of becoming a profitable trader. So, without further ado, here are my 9 not-so-secret secrets to successful Forex trading: 1) PICK ONE trading method and keep it clean and simple. Don’t go wasting time trying to make sense of 15 indicators plastered all over your charts like a piece of abstract art. The truth about trading strategies is that finding one that gives you a high-probability edge in the market is not that difficult. But if you over-complicate it and confuse yourself in the process, you are going to do a great deal of harm to your trading account. Reviews of binary options. Look, your trading strategy should make sense and it should be effective, but it should also be so simple that you could explain to a 5 year old, I’m serious.
The trading method that I have used for years is price action (duh); it’s simple, effective, and flexible, and it doesn’t take rocket science to understand or implement. If you want to master trading you can pick one and learn how to trade it in every market condition; make it your bi$#!REALLY master it before moving on. For example, say you choose to learn the setup first, the best way to learn this setup is to trade it from key levels within the structure of a trending market, do that first, and make sure you are consistently profitable for 3 months or more trading only that strategy before moving on. 2) ANTICIPATE your trades and follow some kind of written plan.
Learn How To Forex Trade
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What I mean by “anticipate” your trades is to make sure you never jump in the market on a whim or without any pre-defined reason. You want to always make sure you are basing your trades on logic and objectivity, not irrationality and emotion (like most traders). So, you should have all the key levels drawn on your charts, and assuming you have mastered, you can simply sit back and wait for a setup to form at a key level in the market. This is called “pre-empting” your tradesinstead of randomly jumping in and out of the market, you are watching pre-defined areas in the market and waiting for price action setups to form near them. Once your trade setup forms, you plan your entry, enter the stop and target, and then let the market do the “hard work”.
Ex: Buying EURUSD at 1.31428 and selling (or closing your trade) at 1.31528 would give you 100Pips in profit. 
( Read more about ) Reading quotes: Forex quotes are presented in a Bid and Ask price (both of which vary by a few pips and from one broker to another).
How To Trade Forex Pdf
Seriously, go play golf or something, don’t sit there and think about your trade after you enter it, stop thinking for a while and you might just make some money in the markets. 3) MAKE A DIARY OF YOUR TRADES to keep a written on-going track record of your progress. /binary-options-demo-account-south-africa.html.
I cannot tell you guys with enough emphasis how important your trading journal track-record is, except to say that if you don’t keep a trading journal or at least regularly analyze your trading history and equity curve, you are extremely unlikely to ever make consistent money in the markets. The actual process of updating your will help you stay disciplined and organized. This is part of developing the positive trading habits that are so crucial to becoming a long-term profitable trader.