May 30, 2018 at 9:55 am #1230
Is it difficult to achieve successful winning trades? If it was difficult then the Singaporean traders wouldn’t have achieved successful winning trades. To be honest, finding the right trades can be a bit overwhelming yet it is worth the hard work. You shouldn’t lose hope in winning trades because there are good tips to utilize in trading. Usually, traders struggle at this point because they try to look at the Forex market like it is a casino where you can milk money easily. In contradiction, it is not such market. It is nothing similar to a casino or gambling. You would have to know the market even before you trade it. Most amateur traders look at the market like it is super easy but it is not. They don’t even take time to study the market. The most common mistake to be seen among naïve traders is they don’t prefer studying the market. Without studying, they wouldn’t understand the market, let alone finding good trades. If you are one of those traders, it is a must for you to avoid this mistake. Meanwhile, you should be focused on these tips to find the winning trades.
Focus on the higher time frame
Higher time frame trading is always very profitable. You can easily eliminate the false trade setups in the daily and weekly time frame. But the novice traders always prefer lower time frame since they can trade more. But you don’t have to execute many trades to earn a decent amount of money from the Forex market. Always try to find trades with the high-risk-reward ratio. Instead of trading the minor support and resistance level, try to find the major zone. Use the simple price action confirmation signal to execute your trade with tight stop loss. If possible, do the fundamental analysis, to assess the strength of the market trend. And never use high leverage in your trading.
Don’t try to use all the indicators
To start with, price action is great. But naïve traders don’t focus only on that. They think it is wise to use all the indicators in one trade. But is where everything goes wrong. You will end up facing losing and it will be a continuous loss. You can never see the market condition clearly unless you use just one strategy like price action. The moment you crowd your chart with indicators you will end up blowing your Forex trading account Singapore. If you want to make your trading journey a success and if you want to find winning trades, keep your trading charts clean! Not all the indicators are supportive to find winning trades. There are certain indicators which can harm your trading journey. Be vigilant to focus on the successful indicators as it will help you achieve the goals in trading.
Don’t complicate the trading approach
Usually, naïve traders have the habit of complicating even the smallest thing in trading. If you want to become a successful trader you should see things clearly. You should get rid of the habit of over-complicating everything. Most naïve traders even complicate the simple trade-setup. They end up losing the most profitable trades due to their mindset. The moment they find a profitable trade-setup, they try to dig it further by complicating the whole process. But this is not the right behavior to become successful. Try to take things simple things simply, if you want to find winning trades.
Don’t try to investigate
Of course, you would have studied the market. You would have to learn the pluses and minuses in a trade. Apparently, if a trade is profitable and if the trade-setup is crystal clear, why do you have to investigate further? Don’t do such mistakes. If you keep investigating, you will end up shooing away the winning trades as well. If you see a good trade, just enter into it to it.
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