How to use the Bollinger band indicator and make profit consistently in forex trading

There are many different ways of trading the financial instrument in the forex industry. In the eyes of trained professional there is no specific trading strategy in this world which can guarantee 100% profit from this industry. There are many traders who uses the important support and resistance level in the market and make a decent amount of profit in the market. It’s true that there are many different trading strategies in the market which can help you to make decent profit but as a professional trader, you need to develop your own trading strategy based on your personality. For instance if you prefer short time frame trading then swing trading won’t suits you since you have to wait a long period of time only take one trade entry. On the contrary, if you are long time frame trader then you can’t make a decent profit by using the shorter

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How to start trading with a very small account like the professional trader

Forex trading is such a lucrative business that every single day the number of retail traders are increasing in this industry. Most of the new comer in this industry start forex trading in order to make quick money. Those who start trading the financial instrument with very little knowledge incur a huge loss in real life trading due to their lack solid trading foundation. Many new traders often start their trading career with a huge initial deposit and ultimately jeopardize their financial stability. If you truly want to master the art of forex trading then you must know all the fundamentals of this financial industry. If you are relatively new in this industry then start trading with a relatively small account. There are many sites which will tell you to start your trading career with the demo account. But in the eyes of trained professional trading the demo account doesn’t

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How to identify the trend reversal in a currency pair like the professional forex trader

Trading the forex market is extremely difficult especially if you are relatively new in this industry. There are many traders in the world who are making a consistent profit out of trading the financial instrument in the forex market. Those who are making a consistent profit has gone through many difficult stages and after serving a hard period time they are now consistently profitable. If you are truly committed to becoming a successful forex trader then you must develop some of the basic criteria that every successful trader have. There is saying in the forex market that always trades in favor of the prevailing trend. Many rookie traders blindly follow this proverb and end up losing a huge amount of money since they even don’t realize that the trend in the forex market is subject to change. For instance, the novice traders keep on executing new buy order in the

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How to use the Fibonacci retracement tools

There are many different ways trading the forex market. In order to make a consistent profit out of trading the financial instrument, you must have a clear understanding of the basics of the forex market. The financial instrument can move in only three possible way. The market generally goes up in an uptrend and goes down making series of lower highs associated with lower lows in the downtrend. But the other types of movement that market can exhibit is the ranging movement. Most of the professional traders make a huge amount of money simply by trading along with the trend. But in order to trade with the trend, you must have a valid trading strategy. In this article, we will teach how to trade a trending market with the Fibonacci retracement tools. The idea behind this trading strategy is very simple and it’s based on Fibonacci series. Professional coders have

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Importance of support resistance level and candle stick pattern in the forex market

Trading the forex market successfully requires the extreme level of technical skills and clear understanding of the different parameters of the financial instrument. Those who are trading the financial industry for a long period of time have been following strict trading discipline. There are many traders in this financial world who often ask, “Is there any holy grail in the forex market”. To be honest the answer is yes. Proper money management is the only Holy Grail that forex traders can have in their trading career. So how do the professional traders make a consistent profit out of trading the financial instrument? The answer lies within their smooth execution of the trading plan and discipline. Most of the professional traders who are making consistent profit in this market are using the simple support and resistance level to take high probability trades in the market. It’s true that some advance professional

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