Unlock the secrets of winning trades in online FOREX trading?
Alertel trade support signal system guides you to make the most out of the buy and sell areas of your chart. Please read carefully about the secrets of wining trades.
- Do not trade large volumes or lots – Reduce your lot sizes and Increase the number of trades, but too many. An ocean is full of small drops.
- Tighten your stop loss– Yes sometimes you will be stopped frequently but your losses will be reduced to mere sums.
- Do not exit your winning trades so fast – people tend to wait on their losing trades but not at their winning trades, this is a wrong move. It gives you a momentary pleasure and relief but eventually it gets to you.
- Take long breaks– Avoid trading everyday take long breaks even days or weeks, clear your head, your brain should be relaxed and should have the ability to think rationally.
- Control your emotions– trading is not and extended version of you or your loved ones- money markets does not care about you. Approach it with care and understand it is a double edged sword.
- Do not mix superstitions in your trading– No superstitious beliefs will help you in your trading. Use your brains to think.
- Manage your stress– when stressed you are bound to make huge mistakes – Relax Rome was not built in a day. So keep your cool.
- Get a good trade support signal system– You need to identify the buy and sell areas of your chart A good system can guide you in this process
- Treat all your trades equally – give equal importance to all the trades not just to the winning ones.
- Do not change trading support signal system too often – It will mess up with you and finally you will end up with no system at all.
Some basic not to be avoided tips for a profitable online Forex trading are
You need to make sure that your account is never void of money. To win or to lose you need an account and that account has to have funds in it. Be a good money manager. A good trading strategy is definitely important, using solid money management and having a rational, disciplined trading attitude will get where you deserve you to be.
Always use a stop loss
Stop loss is your friend. You will not find its value unless you check your stop loss on trades.
Do not expect gargantuan winning trades. Be realistic while trading and use a specific strategy and stick to it.
Interact with other traders
Interact with other traders to know their tactics and reasons of failure. You will gain more than you expected.
To summarize and to add a little more
- Always choose a licensed broker – Stay away from bucket shops.
- Have a supporting signal system as your friend
- Start your trading with fewer amounts.
- Frequently withdraw your profits
- Keep practicing in demo account- although the trade conditions in your demo and live account are completely different go ahead using the demo account for wild trades and to learn the pros and cons.
- Patience is the key – Thos who waits will inherit good fortune. Rome was not built in a day.
- Do not get so excited over your wins- Keep a low profile and enjoy bigger fruits. No trades are alike. Couple of winning trades does not mean that all your trades will make profit.
- Trend can be your friend – do not go against the trend all the time.
- Do not be lazy– Market conditions are different each day. Keep yourself updated with world news and economic events.
- Do not be greedy- No further explanations
- Past is not the key to the future – Your past winning trades may not be the key to your future trades. Be cautious.
Most common mistake a forex trader makes
Here are the top mistakes traders can make based from my experience too.
- adding losing positions or wrongly implementing position averaging
- trading multiple pairs at a time , neglecting correlated pairs
- applying hedging in wrong way
- adapting newly found trading system in live account
- using larger lots to cover previously lost positions
Is news trading a good strategy?
Yes for the experience but not for the inexperienced.
I used diversified strategy. A strategy that uses different trading system for different market conditions. One of my systems is news strategy.And I found it profitable when you know the type of news to trade on . For me , I look into major news only like NFP and the like or those colored red in ForexFactory or any news sources.
In spot Forex, you can buy and sell in less than a minute because the Forex market is too liquid or huge. It’s a 5 Trillion per day transaction. So, buying and selling is not a problem.
Different brokers may vary in their execution time. But it’s difference is not significant unless you are a scalper.
MT4 platform along with Alertel V series platinum buy sell signal software is working best for me using an ECN type of broker.
For Indian market: MCX, MCX SX, NSE: http://alertelsystems.in/demoreg/05/
For International FOREX: http://alertelsystems.in/demoreg/06/
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