Someone sometimes ago ask me "Dr Forex" how can I be the best in my trading method. I told him you can be the best in everything you do if you can believe it and know that you are the best. Get these tips and had it to your trading plan.
(1) Your thought is powerful weapon to make cash from global forex trading when you get to the platform. Think, analyze and create before the trade and when you enter into the market apply everything that you have, think about and make sure you are emotionally balanced that means you are not under any pressure, and make sure you have make right decisions. So that you can make the amount you have targeted from the trade is why you planned the trade before hand. In the simple statement follow your thought.
(2) Know where the market is going:- that's know the movement of the price before you enter into any market. Know when to think, trade, and not to trade. Know the entering point and the exit point of the market. As a currency market is going p or down, what you care about is where the price is going to make cash. Many people are having problem in trading today because they can not figure out their right position, they sell when to buy and buy when to sell, that's means you are loosing and the funny think is that people lose without knowing that's why you must know the rule of the forex. You know playing a game without knowing the rule is like loosing without knowing.
(3) Have a trading plan:- that means trade a plan that best suit your treading method. Know the type of traders you are, are you a day trader or swing trader or long time trader. So when you know and plan the type of trader you want to become then work and gather information on it. If you are a day trader I think 20 pips is go for you a day. But be sure to develop yourself to according to the time you at your disposal. That yourself and if you are full time trader, you should know the type of information you must get.
(4) Currency:- every currency have there pairs and "personality" that means volatility, spread, average daily range. So know each pair very well, study them to know their strength and when to trade them. Use trading strategies that go hand in hand with the characteristics of the currency pair. Get more info
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