How to play forex |
The new play for you as a forex trader or also old profession as a trader but the result has not been fullest, let’s look back how to play forex
, hopefully after reading it there trading we become better.
If his activity judging from how to play forex is easy, simply click on the computer mouse we can perform forex
transactions regardless of the amount.But behind the brain a trader always spinning thinking where the market goes. And part of the difficulty is when deciding to start a transaction. Sometimes doubts surrounding our minds, even though we’ve seen a signal which means it’s time to make deals, but due to doubts often we miss the moment, moment in which an opportunity to make money.So our hearts are sure to Transact, it turns out the price already move away or reverse direction.
Therefore practice to believe in our strategy and the way our analysis.To reach this stage believes we can do a test back. After seeing the test results back that we could trust with our analysis and strategy.Because we can see how accurate our strategy. Armed with this mental accuracy value we are getting increased.
Back to how to play forex, for I assure you new players play forex is easy. There’s nothing to fear, we all are the solution. Even when our predictions wrong we could minimize the risk of loss management techniques.
Here’s how to play forex in General:
1. Select the type of pairs that you are operating with for example EUR/USD, GBP/USD, USD/JPY or otherwise. choose which pair is the most predictable and understood his character.
2. Do the analysis where charts the pair will move.Here we can use analysis, either fundamental analysis or technical analysis.For the novice trader you should use how technical analysis because of the way this analysis much easier. You don’t need to understand the two types of analyses at one time.Ahold of them and be her master.
3. after the predictable search direction signals for entry.The point is so that we can enter the market at the right point so that the benefits of more disadvantage and potential maximum becomes smaller.
4. once the signal comes up, immediately open position.If the signal up, open a BUY position. If the signal is down, open positions SELL.So now we have an open position that will bring results.
5. Further modifications to an open position.To limit losses that do not reach large, place a stoploss at the open position.To secure the profit which has been obtained from reversal of direction put the profit target.
6. close the open position.If after some time the price market has not yet hit the target profit or stop loss can we close it.But the reason must be:
– Because the position was profit, and predicted prices would not touch the target profit.
– Because the position was a loss and is expected to touch the stop loss
With close a position means ended a deal. next we can repeat it again from the beginning.Actually just the core how to play forex.But in practice seems to play forex it is difficult because we are more focused on analysis.Most of the time we are devoted to the process of analysis because it is the right way to play forex is always preceded by analysis. the analysis to determine:
2. the Entry point
3. Target profit
4. Stop loss
After the fourth note, then continue transactions with on the value of four. Then just wait for the result.
That’s how fundamentally playforex, hopefully we can correct the way the main forex us over and start again with the correct way to play forex for future.
Hopefully this is helpful, the discussion of how to play forex.