Key to successful forex trading

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Forex is a business that is very vulnerable to loss, maybe today you can big profit but could be the day after tomorrow you get a margin call. In this business you should really have the discipline and believe in yourself. Here are the key to successful forex trading.


1. Pray and believe PROFIT
2. Monitor News Calendar
3. Monitor Indicator and Correlation pairs
4. PATIENT, wait until the market running according Indicator (or use pending order before news)
5. Check EQUITY, MAXIMAL open trade 10% of capital
6. If already 99% sure, Open orders
7. DISCIPLINE, Do not be Greedy

  • If market running as expected, TP & SL maintained
  • If market is not running as expected, immediately CUT Lose and Shut Down PC. There is still a profitable tomorrow.



Technical PROFIT
1. Monitor News (use trapping news, pending orders two directions)
2. Check Market Type:
a. Strong Market
b. Sideways
c. SPECIAL EVENTS, ex: NFP, BoE, BoJ
3. Monitor Indicator
a. Open Market Price Check (OPEN +30 / -30)
b. Check the RSI, Stochastic, EMA
4. Do not hesitate to cut lose if the wrong position.
5. Believe in Yourself, if you lose do not suppose a market reversal. If you hold the position of pursuing profit and Maintenance SL /TP.

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7 comments

  1. FOREX market Said,

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    Posted on September 20, 2012 at 3:03 PM

     
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    Posted on October 13, 2012 at 3:45 PM

     
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    Posted on November 20, 2012 at 6:29 PM

     
  4. profit.biz Said,

    These are the best trading tips that everyone should have to follow. By
    following these tips you can earn huge profit from forex trading.

    Thanks
    profit.biz

    Posted on December 26, 2012 at 7:41 PM

     
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    Posted on February 28, 2013 at 5:03 PM

     
  6. Anonymous Said,

    The main participants in the Forex market are: central banks, commercial banks, financial institutions, hedge funds, commercial companies and individual investors. The main reasons they participate in the Forex market are:
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    Posted on March 15, 2013 at 12:12 AM

     
  7. Madhuri Said,

    you want to invest in stocks? The first rule is to invest in what you know, but it’s actually not that simple. It’s not enough to simply understand the underlying business…you have to understand what makes a good investment well, a good investment.Anyone can make money in the forex market, but this requires patience and following awell-defined strategy.
    gold trading tips

    Posted on September 3, 2016 at 6:53 PM