Foreign Currency Exchange Trading Tips Building a set of strategies an

Views:
 
     
 

Presentation Description

No description available.

Comments

Presentation Transcript

Foreign Currency Exchange Trading Tips: Building a set of strategies and Indicators to Help you Profit. :

Foreign Currency Exchange Trading Tips: Building a set of strategies and Indicators to Help you Profit. By: Jay Molina From: http://myfxventure.com/

Slide 2:

Welcome back. Having a profitable trading system is definitely important but you are the only one that can make the strategy work. For example, you can read my foreign currency exchange trading tips. However, you cannot make any of my tips work for you unless you take control of your trading and apply them to you trading. Building a set of useful Forex indicators and strategies is a must for anybody who wants to make some serious money with Forex trading. I’m going to teach you how I have build a set of highly accurate indicators and trading strategies to help me make a killing in the Forex market.

Slide 3:

Select indicators to help you detect trends as early as possible: The Forex market only trends 20% of the time, so you really want to be able to take advantage of every trend that comes your way. Sometimes this is easier said than done. No one can see the future to know what the market will do next but most successful traders can accurately estimate price movements. A Good set of indicators can help you to do just that. Some of the indicators I suggest you use to detect trends early are: The Stochastic indicator, the Parabolic SAR, and the Relative Strength Index (RSI). Only implement strategies you fully understand: This is mistake committed for most newbie traders and even experienced FX traders. Buying trading systems from other people can many times be the difference between making and losing money as a Forex trader. On the other hand, I believe that no Forex trader should ever trade a trading system he/she doesn’t understand. Allow yourself enough time to learn about the system of your choice and trade with a demo account before you trade the system on your live account.

Slide 4:

It is all about the bottom line: You are in this business to make money and increase your wealth through Forex trading. Forex trading is a business and needs to be approached as one. One of the highest priorities of all Forex traders is the accountability of their trading efforts. What do I mean by accountability? In simple words, is your trading system making you the money you had planned to make? Is your trading system losing you money? How has the system’s performance affected your bottom line? Successful businesses are incredibly effective at taking care of every single penny and as traders we need to apply good business practices to our trading too!

Slide 5:

Only use indicators and strategies that fit your trading style: Your trading style needs to be taken into consideration almost in every trading decision you make. Whenever you choose a set of indicators and strategies you must make sure that these strategies are designed for your trading style. As you probably know there are several scalping systems, swing trading systems and day trading systems online and you need to choose yours carefully. For instance, if you are a day trader it doesn’t make sense to buy a scalping system (unless you are thinking about becoming a scalper as well). Take your time to shop around, to read foreign currency exchange trading websites, and choose your set of trading system and strategies. No matter what strategy you choose to use don’t even forget that the strategy you select will be trading your hard earned cash so you need to test the system and corroborate its performance. Don’t forget to get a copy of the Smart Trader Pro Trading course worth over $2,000, a 42 chapter course, learn the same trading techniques I used to make 80% in my very first live account, Get your copy here == > http://myfxcourse.com/ Best regards, Jay Molina Pro Forex Trader & Educator

authorStream Live Help