Forex trading strategy

Forex trading strategy, many of you will be looking for the magic system or the magic bullet to start making money and making wealth overnight. In this article, I'll be looking at some of the effective things, and some of the hype many people, unfortunately, get fooled with.

Whether it is Bitcoin or major stocks, day forex trading is the new exciting thing that gets a lot of noise.

First, we'll take a look at the definition of day trading. Buy and sell the financial asset during the same day. Although he is best known through forex and stock trading, he can be in any market.

Ideally, the day trader wants to end the day without open trades, so that they do not take any risk by holding a potentially open trade until the next morning. This means that if the market turns against the direction of their trading, they may lose a lot of money. Is this a smart way to invest, or just another "get rich trick" for the reckless?

Do you have the ability to day trade?

If you are a beginner, you may be risking this. The odds of success will be the same as the odds of any high-flying gambler. The professionals know what they are doing. Ideally, they have a solid understanding, discipline, and experts in the markets.

The other characteristic they have is that they invest large sums of money, which they can afford to lose. This sounds strange, but in reality, they need a lot of money in order to benefit effectively from small price movements.

The other factor is that when you trade large positions, you experience lower financial commissions compared to what a small daily stock trader deals with. They have money they can risk, which is known as "risk capital", which is money earmarked for speculative purposes.

This is where the high risk / high return strategy comes in. They do not bet all of the capital on a single trade because they could be on the wrong side of the market.

So what's the magic strategy?

When you search the Internet in the foreign exchange markets, you will undoubtedly find some information sites offered by educators who want to make you rich. The amazing thing is that they are ready to make you rich for only $ 39.99! They'll offer some e-books, pointers, or maybe a system that is the "secret the banks don't want you to know."

Does it work? So prove it

There are many trading systems available to you for free on the Internet. It can be simple moving average crossover systems, or something as simple as buying a hammer or selling a shooting star at the large, whole, and psychologically significant numbers, like 1.20 on the chart. It doesn't really matter what your system is, but you need to give whatever you do the opportunity to do the extra work.

If you are not interested in demo trading any system for a significant period of time, then you are simply looking to gamble. The stats don't lie when you talk about a large enough sample, and then you'll know if that thing worked. After proving that something works effectively overtime on the beta system, it is ready for the actual action.

However, this is where the role of psychology comes in, so you have to learn to trust your own system. If it succeeds overtime on the demo software, it will do the same in the live markets. If we have a sample of 1,000 trades that have a 61% success rate, if you try 1,000 live trades, your success rate should be close to the same 61%.

كاتب المقالة
writer and blogger, founder of forex 1 .

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