Forex strategies and Trading plans

Forex strategies and Trading plans

Trading purposes certainly is profit. To achieve these goals need Forex strategies and plans mature trading. Where did you get it? Certainly from my experience as a Forex trader, also from his own experiments that must you make.Therefore, every person has a trading plan and strategy respectively.

Specify the target profit (Why you must set a take profit for your Trades)

Most Forex traders fail to profit because they want to earn huge profits with a small capital. Actually there is nothing wrong with wanting it because everyone wants it. However, you need to know that’s a big advantage large capital needs.For a beginner who played with a capital below Rp 1 million do not have to think big profit, though small as long as consistent you are including a successful trader.

Daily Target and Forex Trading

For example, you have a target of $ 5 per day. Stop trading if it has reached the target. Although no one and no one forbids you to continue trading and make a profit, but by complying with the targets that you make at least you can commit. It will be very important to train yourself to control your emotions emotions.

Use indicators 1 hour (What is the Best Time Frame for Forex Trading?)

In looking at the movement of the pair on the chart (candlestick), use only 1 hour. In that time there will be ups and downs. Take a sell order if the candlestick shows the downside. Do not linger, you should note the reverse direction of the candlestick. In other words, when it began to turn towards you close the order.Do not rush to do the reverse order (buy). Give time pause a few minutes to make sure candlestick moving up.

After quite sure, buy order. Scalping techniques can you employ origin does not wait for a big profit. Because the profit in this strategy a little and do a lot of orders, an important profit. Little by little too long target profit you make per day will be achieved.

Do not do a lot of orders (Why scalping ( a lot of orders) doesn’t work!)

I recommend to do 2 orders only, can be a maximum of 3. It is more effective and you can trade with ease. Many orders have caused you trouble controlling the movement of the currency pair that result you have to close the order. The movement can change drastically in a matter of seconds.

Therefore I do not advise you to do a lot of orders.Doing a lot of orders potentially at a loss. For example, one of the orders experienced loss and you do not want to cut losses so decided to make an order on the other pair or order the same pair in a different direction. If this is the case, the loss is definitely you get.

Choose a popular pair in Forex (How to Find the Best currency Pair in Forex Trading?)

In Forex trading my favorite pair is USD / JPY and USD / EUR as the pair move fast. I can do up to 10 open and closed orders within 1 hour. You can also find your pair featured more you can acquire. Do not choose a pair that you are not controlled at all. Choose a pair that is familiar only so that you can focus on analysis of the pair.

Controlling emotions (How can you control your emotions in Forex Trading?)

Despite the loss position, you should still be able to control emotions. There is no harm in close order and an order on the other pair. Do not rush to order reversed. For example a loss on sell order you then do a buy order. Let it go, find another pair. See Forex news before deciding to make an order on the other pair.

By weni karyati