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• Prefect forex strategy for forex traders

• 
  Monali Jaiswal

  The company name is only visible to registered members.

  Prefect forex strategy for forex traders

  Here are some simple tips that will help you increase your profit potential prevent you losing money.
  
  1. Select your first broker
  
  When you first decide to trade Forex you will need to locate a reliable broker. It's very important that you familiarize yourself with the software the broker uses for making trades analyzing the market any other features they may offer. Many have a training or tutorial account that will allow you to signup make trades for free like http://www.finexo.com/. Use this to your advantage before just jumping in tossing your money in.
  
  2. Get simple method you understand
  
  In forex trading many people think that the more complicated a method they use in forex trading the more likely they are to make money. The fact is that is not a truth the simple systems work best. As you know there are two main ways to analysis the currency rate: fundamental technical analysis. Simple systems are more robust easier to trade with discipline as you underst the logic can therefore follow it with confidence when it has a losing period.
  
  3. Trade the big trends not trade frequently
  
  Although short term trading long term trading are both good you have to catch the big long term trends that make the big profits. The big moves in forex trading with optimum risk to reward come just few times a year so don't trade for the sake of trading wait for these moves - These are the that will make you the big profits that's why you're trading.
  
  4. Work smart not hard
  
  Once you have a system your happy with that's it. People go on about working hard in forex trading to educate yourself but once you have your system stick with it. The market doesn't give you extra dollars for effort you get your reward for trading correctly.
  Forex trading is risky so you need to manage your money place your stop order far enough away the market action to allow for volatility.
  Placing stops too close to entry not taking enough risk dooms most traders to fail.
  Also when you have a profit don't move the stop up to quickly be patient give the trade room to breathe.
  
  5. The formula to success
  
  The formula to success in forex trading is to do the following:
  
  Using Simple Method + With Discipline + Control Risks = Forex Trading Success
  
  Keep these simple tips in your mind you could make some big profits on forex trading.
  
  • 22 Nov 2008, 11:15 am
  Monali Jaiswal wrote: > Here are some simple tips that will help you increase your profit > potential prevent you losing money. > > 1. Select your first broker > > When you first decide to trade Forex you will need to locate a > reliable broker. It's very important that you familiarize yourself > with the software the broker uses for making trades analyzing the > market any other features they may offer. Many have a training or > tutorial account that will allow you to signup make trades for free > like http://www.finexo.com/. Use this to your advantage before just > jumping in tossing your money in. > > 2. Get simple method you understand > > In forex trading many people think that the more complicated a method > they use in forex trading the more likely they are to make money. The > fact is that is not a truth the simple systems work best. As you know > there are two main ways to analysis the currency rate: fundamental > technical analysis. Simple systems are more robust easier to trade > with discipline as you underst the logic can therefore follow it with > confidence when it has a losing period. > > 3. Trade the big trends not trade frequently > > Although short term trading long term trading are both good you have > to catch the big long term trends that make the big profits. The big > moves in forex trading with optimum risk to reward come just few > times a year so don't trade for the sake of trading wait for these > moves - These are the that will make you the big profits that's why > you're trading. > > 4. Work smart not hard > > Once you have a system your happy with that's it. People go on about > working hard in forex trading to educate yourself but once you have > your system stick with it. The market doesn't give you extra dollars > for effort you get your reward for trading correctly. > Forex trading is risky so you need to manage your money place your > stop order far enough away the market action to allow for volatility. > Placing stops too close to entry not taking enough risk dooms most > traders to fail. > Also when you have a profit don't move the stop up to quickly be > patient give the trade room to breathe. > > 5. The formula to success > > The formula to success in forex trading is to do the following: > > Using Simple Method + With Discipline + Control Risks = Forex Trading > Success > > Keep these simple tips in your mind you could make some big profits > on forex trading.
• 
  Monali Jaiswal

  The company name is only visible to registered members.

  Re: Prefect forex strategy for forex traders

  Hi there,
  
  Here is my free forex trading strategy always profitable.
  
  Also get forex Analysis and recommendations at:
  
  http://forextradingguru.blogspot.com/
  http://forexmoneymaker.blog.com/
  http://www.finexo.com/marketReview
  
  Entry Point
  
  1. Decide which pair you are going to trade.
  
  2. Find out all major trends by checking the different interval forex charts. For example, 1 hour, 4 hours and daily forex charts
  
  3. Plot the trend lines through the high points if it is on a downwards trends and plot the low points if it is on an upwards trend. You will need at least 2 months of data to be able to plot out the trend lines
  
  4. Mark the support and resistance levels
  
  5. If the price is almost approaching the trend line you have drawn, wait for it to move through or below the line before proceeding.
  
  6. You might want to also check the RSI indicators to see if they give you a warning. Also make sure to check the MACD and Stochastic levels as well.
  
  7. Make sure for the next 2 or 3 days, there are no major data releases for the two countries’s currencies. It will cause some fluctuations in the prices.
  
  8. Get in and start trading but use no more than 10% of your capital
  
  9. Place a stop loss but do not place it so far enough that you won’t make a profit. I would suggest 100 pips as a recommended stop loss point.
  
  Exit Point
  
  1. Put a take profits limit order. Set it to between 30 to 50 pips. If possible, place it just ahead of a major support or resistance level. Also, make sure your limit order is about 15 to 20 pips away from the S/R level.
  
  • 02 Dec 2008, 07:50 am
  Monali Jaiswal wrote: > Hi there, > > Here is my free forex trading strategy always profitable. > > Also get forex Analysis and recommendations at: > > http://forextradingguru.blogspot.com/ > http://forexmoneymaker.blog.com/ > http://www.finexo.com/marketReview > > Entry Point > > 1. Decide which pair you are going to trade. > > 2. Find out all major trends by checking the different interval > forex charts. For example, 1 hour, 4 hours and daily forex charts > > 3. Plot the trend lines through the high points if it is on a > downwards trends and plot the low points if it is on an upwards > trend. You will need at least 2 months of data to be able to plot out > the trend lines > > 4. Mark the support and resistance levels > > 5. If the price is almost approaching the trend line you have drawn, > wait for it to move through or below the line before proceeding. > > 6. You might want to also check the RSI indicators to see if they > give you a warning. Also make sure to check the MACD and Stochastic > levels as well. > > 7. Make sure for the next 2 or 3 days, there are no major data > releases for the two countries’s currencies. It will cause some > fluctuations in the prices. > > 8. Get in and start trading but use no more than 10% of your capital > > 9. Place a stop loss but do not place it so far enough that you > won’t make a profit. I would suggest 100 pips as a recommended stop > loss point. > > Exit Point > > 1. Put a take profits limit order. Set it to between 30 to 50 pips. > If possible, place it just ahead of a major support or resistance > level. Also, make sure your limit order is about 15 to 20 pips away > from the S/R level.