利用者:HigginbothamNalley209のソースを表示

Forex currency trading Strategy - Prepare Your Chart



I can think about few business endeavors that don't involve some sort of daily, weekly, or monthly planning. Trading Forex is no different. When you sit down to an unprepared chart you have little idea why one trade might run forever and the other turns on any money.

This really is easily solved by preparing your chart. Probably the most frustrating thing about becoming an unprofitable Trader isn't knowing why a trade worked in your favor and why the following trade didn't. This can lead to an inability to determine where you can trade from, when you should take profit, where you can place your stops, and when to chop a losing trade. Inevitably, losing trades far outpace in both number and size the profitable trades. A prepared chart will allow you to take trades with less risk which means smaller losses and much more frequent gains.

The Forex currency trading strategy sections of every Forex forum website are probably the most popular. Be honest, if you are a unprofitable trader the number of hours would you spend reading the latest brain-fart from some who swears that because two trades worked that she or he has found the following best system.

[http://www.vilago21.com/event/What+Forex+Trading+Is+All+About_br+_/1162818/profile forex scam]

The reason the forum strategy gurus always fail and will continue to fail is they focus on all the wrong things. They have so many rules and indicators and spend so much time adjusting those rules and indicators that they forget the most significant thing... it's in which you trade from which makes a big difference.

Do this exercise and see what a difference it makes. I call this my " setup method #2." Pull-up a daily chart of the favorite pair. Zoom out before you can easily see two months price of price data. For instance, it is July now, so pull up a chart and make sure you can observe the daily candlesticks for May and June. Place a horizontal line in the high of June, the high of May, the low of June, and also the low of May. You need to now have a chart with four lines. There you have it!

Now wait until price approaches the area of 1 of the four lines. You can trade any timeframe, but only trade when price is approaching one of these four lines. Only take a trade when:

    Price is touching or perhaps is not far from your lines AND
    Your trading plan provides you with an indication.

Ignore all other signals that occur away from these lines. As price approaches the areas on my pre-prepared chart, I look for simple price action candles, but you may use candlestick patterns as well as that latest, greatest strategy you present in a Forex forum.

Doing this will permit you to trade less and trade from better places. Observe how much better even the worst system performs when you take signals generated only when prices are near an essential place.