In this article we will talk in the forex secrets which they may find some tips to help you make your trades more profitable and more intelligent. The figures, graphs and relations, and trade in general is a kind of art more than a science. The best forex traders in the currency trading market grow their skills through practice and discipline. You only have to analyze their personalities to find out what drives their transactions and know how to get rid of fear and greed.
The first secret: Set your goals and choose a style according to trading goals. And make sure it matches your personal recipes with the pattern of trading.
It is very important to have a clear idea of where direct you. We must have clear objectives of what you want to achieve, then you must be sure that your chosen trading system is able to achieve these goals. For example, if you can not sleep with the survival of open trades you have to use a stop-loss strategy. But regardless of the trading method you choose, make sure that the trading method fits your personality. Because the lack conforms with personality traits will lead to additional losses.
The second secret: Select a broker who makes you feel comfortable, and offers you a trading platform that suits your trading style you chose.
It is important to choose a broker that offers a trading platform that suits your needs. And do not forget is the reputation of the mediator this subject falls under the framework of the utmost importance. You should be familiar with the policy of each broker. The broker who gives you the ability to get information about the market and technical analysis on the market in addition to other services is the right mediator. Tgr not your choice of mediator on Sbrd (the difference between the purchase price and the selling price) you take, for example, if you are interested in trading on the Fibonacci numbers, make sure that the platform, which gives it of the broker fee for the Fibonacci lines.
The third secret: select methodology excellent and then implemented.
Before entering the market as a trader, you must have an idea of how they will take their decisions on trades you make. Some people choose to take a look at the basic elements of the economy, and then use the chart to determine the best time of the trade. The use technical analysis in order to develop plans for trade.
Fourth secret: Determine the time frame is long and a short time frame to enter or exit the market.
Many traders confuse conflicting information when looking at the charts in different time horizons. Therefore, if your trading direction depends on the weekly chart and daily, be sure to synchronize the two. In other words, if the weekly chart gives a buy signal, wait until you confirm the daily chart purchase.
Fifth secret: calculate the effectiveness and feasibility of your strategy
How to calculate the effectiveness and feasibility of your strategy is essential, and you can do so through the following equation:
D = [1 + (a / b)] X c - 1
Abbreviations
A = Average trade gains
B = average trading losses
C = the percentage of victories
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