Skip to main content

BUILD YOUR OWN PROFITABLE FOREX TRADING SYSTEM IN FIVE SIMPLE STEPS











 sumber:lobakmerah

















BUILD YOUR OWN PROFITABLE FOREX TRADING SYSTEM IN FIVE SIMPLE STEPS
If you want to make big profits, then you should know that the best way is do it for yourself and not rely on others. Any trader, even a novice), can build a successful Forex trading system and this article shows you how to build a profitable system in five simple steps.
What Makes a Successful FOREX Trading System? Successful trading systems have three main characteristics:
1. They are Simple
Forget complicated systems with lots of rules. It’s a proven fact that simple systems work better and are less likely to fail in the brutal world of trading.
2. They Run Profits and Cut Losses
You need to have a longer term Forex trading system that milks the big trends for profit, and cuts losses quickly.
3. They Follow Long Term Trends
There is no point in trading for small profits, i.e. day trading, as you will never cover your inevitable losses with small profits. Focus on long-term trends. It’s these that yield the big profits as they can last for years. Now let’s get down to the five steps of building a Forex trading system:
1. Your Method
We have said to keep it simple and this is exactly what you should do. Just a few rules and a robust money management system.
2. Spotting Opportunities
Look for the long-term weekly trends and then move to daily charts to time entry. When we say long-term trends, we mean months, or years, not just a week or two.
3. The Best Way to Trade Currencies is via a Breakout Method.
Breakouts occur in all currency markets all the time so base your system on a trend following breakout system. There isn’t space here to describe exactly what a breakout system is, but we have articles on breakouts posted on our web site. It’s a fact that most of the world’s billionaire traders use breakout systems in their trading and you should use a breakout system as well.
4. Timing Entry
The best way to time an entry is to watch for a break on the chart, confirmed by stochastics crossing with bullish or bearish divergence – this is a great timing tool. When you are in strongly trending markets you can also use Bollinger bands to time your entries and take profits. The Bollinger band is a great filter indicator and all traders should consider it.
5. Money Management
If you are following a breakout method either the trade runs quickly in your favor or the break is “false” and quickly reverses. Don’t put your stop just below the breakout point! If the trade does not follow through within the day, exit the market, and use a monetary stop in the day session.
A Simple Forex Trading System for Profit
With the above system, you will focus on the longer-term trends and milk them for maximum profit. You will also not trade frequently and you will liquidate losers quickly. We don’t have space here to go through how to use the indicators, but with a bit of research and testing you will see why a Forex trading system built on the above principles will work and will continue to work. The system will give you a lot more profit than the so called predictive, over hyped complicated systems, sold by vendors and gurus. These systems only work in back testing. Build yourself a Forex trading system and see for yourself just how profitable they can be!

Comments

Popular posts from this blog

Ahmad Suradji aka The Black Magic Killer Dukun B*nuh Minum Air Liur Mangsa Sebelum Tanam Di Ladang Tebu

Sumber Lobakmerah 3 Clever Ways to Identify the Customers Who'll Generate Your Passive Income The following excerpt is from  Nightingale-Conant’ s book  The Power of Passive Income: Make Money Work For You . Buy it now from  Amazon | Barnes & Noble | Apple Books | IndieBound If you’ve got a business idea, it’s time to start identifying exactly who your customers are. We’re going to identify them using three different categories -- an objective measure, a subjective measure, and a third classification that we’ll call “ECB,” or expected customer behavior. Let’s look at these three categories in order. Objective measure Basically, the objective measure refers to anything you can say about your customers through numbers. For example, are you able to determine what age groups are most interested in what you have to offer? Let’s use “old-time ba...

FOREX TRADING BROKER SYSTEMS

sumber:lobakmerah FOREX TRADING BROKER SYSTEMS An online forex trading broker system is not only about providing superior solutions for forex traders but also about accommodating the technology needs of the forex trading industry. In the most competitive trading world of forex, the online forex trading broker system lets you perform all forex trading functions quickly, in real time, and from a single screen. Gone are days when forex trading was only for big investors, as it was permitted to only large financial institutions like banks, big stock brokering companies etc. Thanks to computers and the Internet, a new medium of online forex trading has emerged in the form of online forex trading broker system. This system is not only limited to order entry or trade execution, you can track all online forex trading activity as well, through this online forex trading broker system. The online forex trading broker system takes you to the retail-trading a...

UTILIZING TRADING SOFTWARE IN THE FOREX MARKET

 sumber:lobakmerah UTILIZING TRADING SOFTWARE IN THE FOREX MARKET Today's Foreign Exchange (Forex) trading is recognized as one of the most lucrative ways in making money online. To trade Forex, all you need is just a computer with Internet connection and an account with a Forex broker. As the market is operating 24 hours a day (for 5.5 days a week), Forex traders basically work freely regardless of the location and time. Despite its high volume of daily turnover (nearly $2 trillion per day), it is surprising to note that only a few currencies are traded very actively: United States dollars, Australian Dollars, Japanese Yen, British Pounds, Swiss Francs, Canadian Dollars, and the Euro Dollars are the seven majors. In fact, Forex is mainly traded by large international banks even after it was opened to public in 1998. According to Wall Street Journal Europe, 73% of the trade volume is covered by the top ten banks. Deutsche Bank, topping the list...