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Currency Trading Online
1. Demo Account
Trade on a demo account b4 real money
2. Learn Technical Analysis
To be confident in your position placement
3. Charts, Charts, Charts
Theres nothing like looking at charts 15,30,1hr,4hr
i Close my eyes and scroll back then click over with my
right mouse key, making paper trades the whole way
This ingrains the patterns into your brain
4. Orders
Always use Stop-loss, and Take-Profit is reccomended
those are the toolz
Trading
1. i Start by looking at the longest time period first
drawing resistance/support lines where the price bounces
pay attention to your indicators here, macd/stoch ...
look for patterns in price and indicators
i draw lines on my indicator here as well
2. find your upcoming intrachannel bounces or channel breaks
the goal here is to buy or sell at the point closest to the
level of the percieved break, the apex
3. set your limit orders
4. now if a trade goes the wrong way the s/l protects u from
any sizeable loss
my goal isnt to make every trade work , its to make a few work big
this will easily make up for the trades which may have s/l'd
5. find your best oppoutunities out for 6 currencies
6. if you make 10 pips and then close your cutting your winners
theres no point in cutting your winners and your losers
7. the beauty about pending orders is that u dont have to sit there like a sniper
8. i Dont look at news, too much clutter i think
9. i try and make something of volume too, its not really clear cut
so i dont care about it too much
10. My gf mary sometimes helps me trade
11. As you learn u will become more confident in your order placements
As you become more confident , youll place better orders
Currency Trading Online
