This idea is for educational purpose
Is trading easy ? Answer is simply No unless you don't know about trading , Most of the traders who start trading they lose their money in first three months and always blame them self.
Now how to be profitable in Fx Trading
Few Steps which are very important and every trader must follow
1. Trade plan : Always plan your trade and than trade your plan, mark your charts, tradingview is one of the best platform available which provides you all kind of tools which are very helpful in marking charts
Identify entry and exit points and mark them don't leave position open when you are uncertain of market. Don't enter the market without plan learn to wait let market reach your desired entry point
2. Trend is your friend identify the trend on monthly, weekly, daily and four hourly time frame look for support and resistance levels, mark demand and supply zone on your chart only enter when the market reaches your desired range.
3. Control your emotions don't get attracted by false move (breakouts) you will lose, Trust you analysis.
4. I will suggest select one currency pair and keep your self updated on all news economic data release, master that pair mark and remember all entry points by heart only possible if you have carried out proper planning.
5. RISK MANAGMENT. Risk management is key to success in trading. trade plan with proper risk management is always a winning trade let me explain it Take a pair GBPUSD as show on chart mark all resistance and supports demand and supply zone draw trend lines you will get some idea where the pair is going, read the news about dollar and GBP now picture will be clear to you for trading. Let suppose we get that trend is bullish identify buy and sell zones as marked on the chart. now when market reaches your buying point split your buy mean if you have 10000$ account use 1:5 maximum leverage not more than that. open first position in buy zone with minimum volume with stoploss 30 pips down and take profit at 90 pips (0.05 stoploss at 30 pips if hit you will lose 15$ and if TP hit you will get 45$) let suppose SL is hit now open another buy with double volume (.10 same stoploss at 30 pips and TP at 90 pips) i assure you in 90% cases this stoploss will not be hit and you wil end up in 90$ profit mean you lost 15$ but you secured 90$ which mean you have earned total 75$ profit. even if this stoploss is also hit open another buy with .15 volume and same stoploss and take profit the end result will be good profit.
6. If this is helpful please do like and follow for more updates i have selected only GBPUSD pair for trading. my buying points were 1.3580-60, 1.3624-1.3610 and same strategy as i have discussed in Risk Management and selling point i have marked already so far in this week secured 65 pips and right now one trade in profit floating 35 pips
Please Do Like & Comment and must follow if this is helpful
Is trading easy ? Answer is simply No unless you don't know about trading , Most of the traders who start trading they lose their money in first three months and always blame them self.
Now how to be profitable in Fx Trading
Few Steps which are very important and every trader must follow
1. Trade plan : Always plan your trade and than trade your plan, mark your charts, tradingview is one of the best platform available which provides you all kind of tools which are very helpful in marking charts
Identify entry and exit points and mark them don't leave position open when you are uncertain of market. Don't enter the market without plan learn to wait let market reach your desired entry point
2. Trend is your friend identify the trend on monthly, weekly, daily and four hourly time frame look for support and resistance levels, mark demand and supply zone on your chart only enter when the market reaches your desired range.
3. Control your emotions don't get attracted by false move (breakouts) you will lose, Trust you analysis.
4. I will suggest select one currency pair and keep your self updated on all news economic data release, master that pair mark and remember all entry points by heart only possible if you have carried out proper planning.
5. RISK MANAGMENT. Risk management is key to success in trading. trade plan with proper risk management is always a winning trade let me explain it Take a pair GBPUSD as show on chart mark all resistance and supports demand and supply zone draw trend lines you will get some idea where the pair is going, read the news about dollar and GBP now picture will be clear to you for trading. Let suppose we get that trend is bullish identify buy and sell zones as marked on the chart. now when market reaches your buying point split your buy mean if you have 10000$ account use 1:5 maximum leverage not more than that. open first position in buy zone with minimum volume with stoploss 30 pips down and take profit at 90 pips (0.05 stoploss at 30 pips if hit you will lose 15$ and if TP hit you will get 45$) let suppose SL is hit now open another buy with double volume (.10 same stoploss at 30 pips and TP at 90 pips) i assure you in 90% cases this stoploss will not be hit and you wil end up in 90$ profit mean you lost 15$ but you secured 90$ which mean you have earned total 75$ profit. even if this stoploss is also hit open another buy with .15 volume and same stoploss and take profit the end result will be good profit.
6. If this is helpful please do like and follow for more updates i have selected only GBPUSD pair for trading. my buying points were 1.3580-60, 1.3624-1.3610 and same strategy as i have discussed in Risk Management and selling point i have marked already so far in this week secured 65 pips and right now one trade in profit floating 35 pips
Please Do Like & Comment and must follow if this is helpful
Comment:
Closed buy with 50 pips profit total 115 pips in two days will look for buying
Comment:
buy was pull back gave us 40 pips total 155 pips so far market is respecting the trend line if it holds below that than likely fall down expected safe selling should be above 1.3700 level for 30-40 pips with stoploss
Comment:
Don't sell wait for hourly close if it closes above will long it on pull back
Comment:
Closed above no trade open at the moment will look for buy on pull back total 155-15 130 pips in two days
Trade closed: target reached
