Tools Trade
Tools Trade
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It is said that 85% of forex traders lose money within the first three months of trading, I think that in some cases exceeds the market rate could enter, and 95%, most people say the loss as a result of trade, without creating a strong knowledge of the market Forex, I do not accept it until the end.
For me, I think the most important reason for trade is like that strategy, money management and management risk is another important reason for crowding his mind with the many technical and fundamental tools and trying them all at once.
Theoretically, all methods of analysis "to wither technical and fundamental," are correct ways, because they are only measuring tools, but differs in the accuracy their results, and this will vary from time to time you just go and you're responsible use of these materials, so I have nothing against that indicator is used, just do not try to phrase the crowd with many of them.
To move a success of 15% does not need to know a lot of the analysis, not necessary to have too much capital. I do not feel calm, concentration, take a look at the charts and how you and such advice. We will instead discuss about the actual activities that you can take to get a loss and a list of their names in the 15% effective list of operators. The best source of information for forex trading is MoneyTec MoneyTec - Active Community traders forum, chat. MoneyTec is an online community which promotes trade in mature, intelligent and respectful discussion in a positive and safe environment for all.
My strategy depends on simplicity, it only covers the Two technical indicators section. Let's see how it works:
a) Money Management:
1st First of all counts in the capital well, and I mean this price you can afford to lose "is not a rule. 1 in investments, which will remove the stress from you."
2nd Decide to expect from the average monthly refund of the money: You'll be able to count on average every week and every day to return "Target Weekly and Daily."
3rd Decide what you do with profit in the case, to achieve your goals as you can go out of it and how much can be reinvested: This will be enough to have a permanent and stable trading strategy.
4th Most importantly, limit the size of the trade, should not exceed 5% of the balance, if you want to survive in this market.
These are all What we need from the money management at this time, this is a huge subject to participate in.
b) Risk management:
1st Limit your losses: Worldwide Money you can afford the loss of the investment budget.
2nd Depending on the destination daily and weekly, you can reduce the daily and weekly losses, so if it touches that is limited to the cessation of activity at another time, risking $ 1 to $ 3 expected profit is good and 1: 2 continue to be accepted.
3rd Please note that "If you lost a day, this means that the lost profit on that date the total monthly earnings" do not try and squeeze the day after to get a double benefit, otherwise the system will be spoiling the market.
c) Trading System Specifications:
This trade system is an old business common system used to use it at random, we will use it in a more modern, it contains of:
1st 2 Exponential Moving Average (EMA) to 7 - 15
2nd Relative Strength Index (RSI) as a tool for confirmation.
And now as I have everything setup, so it is not hard to understand that system, as usual, was used by traders is: "once EMA EMA cross-7-15 can be with her, so if you cross the mountains, buy, sell otherwise, "this is completely true, but it must be confirmed by the signal Other tools, such as "RSI" when you are moving averages the signal for your direction and value of the RSI line, if there is a positive You can start a business, if not to be ignored until you get a positive signal that everything is in order, your stop loss would have been EMA-15 had returned to the cross EMA-7 and the stop loss is 20% of the daily cost of loss that they decided in advance, so you have a chance to trade at 5 times a day if you do not remember all industries.
Please note that you should not put all the trade size limit, which will decide before the configuration management point of your money in one trade, it may be necessary to handle the trade after that date or to add more funds.
The last thing to say is the classic advice "Do not be greedy and do not feel panicked," this is the best feature we have in the Forex, Take Profit and Stop loss of points.