Beginner vs Pro Trader

Beginner Trader

1. Tend to follow the crowd / mass (crowd follower)
2. Following what others are doing
3. Convenient if the decision together with the crowd
4. Avoiding the risk unless other people also took
5. Thought if anyone else "buy" it is safe also to "buy"
6. Acting on advice from others who are considered "expert"
7. Tend to make the complicated process of trading and markets simplicity neglect
8. Almost always make the same mistake: buy / sell when the price has moved away significantly (high risk) as well as buy and sell when approaching resistance when approaching support (low probability).
   

Professional Trader

1. Taking the initiative (lead the crowd)
2. Elimination of all subjective noise that hinder decision-making process. They do not care what other people do and make decisions based on a series of rules that are very mechanical and do not carry emotions
3. They learn to identify the correct entry (proper entry) in which most people do not notice
4. They sell after a period of buying walked over / into the area resistance. They sell Greed (greedy), this in addition to the forex trading.
5. They buy after the selling period runs near / in the area support. They buy Fear (fear)
6. Successful traders:
   

• Able to identify opportunities before others do
• Execution of a mechanical trading

Forex autopilot

“Forex autopilot” is truly a term most widely known and utilized by expert currency traders. It describes an algorithmic formula created to create exchanging decisions inside the currency markets, with no need of human interaction. Scalping methods generally are meant to remove human emotions in the trading desk having a computer make all of the decisions – and when you have to accomplish success, you will need one.In this post I will show you how to determine if forex autopilot or robot trading systems are legitimate or scams.


First of all, any forex trading system software that guaranteeing easy, consistent profits is an outright scam. The forex market, like the stock market, consists of too many random factors. Anyone promising to be able to read the future like a fortune teller is a liar. Forex trading is similar to gambling. But what successful forex robot systems can do, is boost the odds slightly in your favor. Then, there will be a slight probability that you will make money over the long run.

However, past success is NOT an indicator of future success for a forex autopilot trading system. Scientifically speaking, this is because the forex market has "no memory", that is, the future and past are unrelated. Just because an advertisement shows you an incredible "historical track record" does not guarantee future success. This is why legitimate forex robot trading systems will have a disclaimer that there is NO guarantee of profits and that the product is for educational purposes only.

This leads to a problem, though. When you purchase a forex autopilot trading system, by agreeing to their terms of service, you have given up all rights or guarantees for a useful product. They can now sell you COMPLETE junk, and since you agreed to take the risk, there is nothing you can do. Make sure that you can at least get a refund if you are not satisfied. Furthermore, try to search for reviews of specific forex software online before you make a purchase.

Trend is Your Friend

Follow where the market trend is moving. When the market trend is bullish, do the action to buy (Long). Conversely, if the market is bearish, do the sell (Short). Once again! Do not fight the market trend! against the trend was like people who are swimming against the tide ... energy would be quickly depleted. In FOREX trading, the energy in question is of course ... fund or your trading capital.

Trader Must Understand The Time Frame (TF)

Time frame is useful to see the price trend is going.
There are several TFs that you can use. Small TF will follow the TF is greater.
Suppose you will buy and close buy today you must consider the daily TF, TF hours, and TF 5 minutes. For example, daily TF shows trending up, while the TF 5 minutes showed a trend down that means prices will go down for a moment as TF 5 minutes and then will increase following the daily TF.

How to take a position:
Approximately at 6:00 pm
see TF 5 minutes wait until the price is really low and take a buy position with a take profit 80 and stop los 100. Select a lot at most 5 times your capital.
Attention: do not fight the trend

Trend, Momentum and Timing

Your goal in Forex trading is to make money.Find out whether it is more important to know the forex technical analysis or fundamental analysis from a full time trader himself.

When doing technical analysis on forex. There are 3 factors that need to be properly recognise and use. They are trend, momentum and timing.

Trend
Trend is the tendency of movement to a particular direction. When it is uptrend, the price will move up and vice versa.

Momentum.
Momentum is the strength of movement. The stronger the momentum the stronger the move. When the momentum is finished, it will reverse.

Timing
Timing is when u enter the market. Enter only when the profit to risk ratio is good. Other than that better stay out.

Forex Market Hours

The forex in a simple way is a market for forex trading. The trading of currencies takes place within the Five days in a week, and will go on virtually the whole day.

Forex Market Hours in Europe, the best Forex Marketing Hours will be around 2am and 12pm EST. his is the most fluid time, whereby movement is high. Up to 200pips will be moving at this time, and will allow profits to be made for a trader. In Asia, the best Forex Marketing Hours will certainly be 7pm to 4am EST. The same goes for this times in Asia, whereby movement of stocks is very high. One of the greatest Markets is in the US, where traders will have to be on the alert by 8am, and can do so until 12pm. This apparently is identical time since the European Trading Hours. The quantity of trade done between 8am and 12pm in America will cause the Trading to occur way in front of its closing period. Trading can go on until 5pm.

How can one find out more about the best Forex Market Hours for me?

One of the bet ways to find out the very best Forex Market Hours in a part of the world that one is in is through the place’s local news. You will find always some highlights in the business segment of the news broadcast that will highlight the number of trades which have taken place inside the day. Some will also mention once the Trading was high so when it was actually low. A different way to find out more about the very best Hours is thru the internet. There are sources online that are dedicated to bringing understanding of the happenings of the Forex Market all over the world.

How To Create Your Own Forex System

In Forex world sooner or later you’ll come to the strategy point, you can’t trade without a forex system, finding system that will work is not problem, a quick search in Google will send you to a hundreds of sites that selling Forex strategies.Some people may have the advantage in certain way but we are all equal in the land of forex.

In the beginning, most of you will try out different system and indicators. This is the process of learning. Some people may have up to 20 indicators on screen but in the end those indicators will be cut down to maybe just 3-5.

This happen because the human brain is the best processor there is. With experience we will learn the behaviour of forex and reduce the need for indicators. I have a few friends that finally develop their own trading system and they are profitable up till today. How do i know they are in profit? That is because they have been trading forex for more than a year now.

In forex there a lot of indicators available on the internet. In order for you to create your own trading system, you must understand that less is more. The less indicators you use the easier it is to trade. Lets start on how I created my own trade system.

Of all the indicators that you have tested, take the best 5 and list them down from the best to the worst. Load all the indicators on screen. Look at how the interect with each other. The best indicator is your main signal. This where your buy or sell decision comes from. Your 2nd best indicator is your filter. 3rd your target entry or exit. 4th trend indicator.

Personally nowdays i need only 1 indicator if im scalping. The most simple system is the best. In order to do long term trade i need a few indicators since finding the best entry point is a bit tricky. Below are the list of indicators im using. Maybe could give you some ideas:

1. William %R
2. MACD
3. EMA
4. Kijun Sen

Those are my indicators. Only 4 listed from best to worst. Btw William %R is a really good one if you know how to use it. Happy trading