Trading the forex market can be extremely challenging if you are relatively new in this industry. There are many traders in this industry who have lost all their hard earned money by using the wrong trading technique. One of the most common mistakes that every trader makes is using too many indicates in the chart. Some might say that using the indicators is totally unnecessary since they tend to give to many false trading signals. But in the eyes of trained professional indicators can be extremely useful if the traders combine them with the right tools. In this article we will tell you how to use the stochastic indicator like the professional trader and trade the key support and resistance level in the market. Before we move in to details lets us know first know a bit about the support/ resistance level and the stochastic indicator. Support and resistance level
Read moreCategory: Forex
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
Read moreHow 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
Read moreHow 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
Read more
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
Read more