How to Trade Forex Profit Continues By Opening the Right Position
In today's world there are so many people who are in the world of trading, some even make this activity a livelihood.
No wonder so many traders have sprung up because the promised profits are huge. This includes FOREX TRADING. Surely you, novice traders, are looking for ways to trade forex so that you can continue to profit, right? The following is the correct way of trading forex for beginners:
How to trade forex continuously profit
1. Change your mindset
There are so many people who think that if you trade, you will get abundant profits. Even though in reality trading activities are not necessarily able to ensure large profits. Because, if you trade without the right strategy, it is not the profit that we get but the losses that we experience.
So, if you want to start trading, fix your mindset first, don't think too much of trading as a livelihood that can provide continuous profits. Unless you are already good at this trading world.
2. Trade forex consistently
Why should we trade consistently? Because that way we can better understand the trading scheme itself. The advantages that we can get if we trade forex consistently we will understand better about how to trade forex correctly and can apply the right strategy so that we can continue to profit.
How do you trade forex consistently?
If you want to be consistent in trading, the thing to pay attention to is to take into account the capital spent. That way you will feel less burdened because the capital you use is smaller than your basic income.
3. Using the right forex trading strategy
By using the right strategy will minimize the possibility of loss. There are 2 basic strategies that you need to know, namely:
Short term forex trading strategy
You can apply this strategy if you have a lot of knowledge about forex trading and are sure that the knowledge you have can make a profit.
Because if you use a short-term forex trading strategy the risk of loss will increase. Why is that? Because the time for opening and releasing positions is short and you will depend on price statistics between rising or falling.
However, this strategy can generate profits quickly so it is very suitable for those of you who want to quickly make profits.
Long term forex trading strategy
Unlike the case with short-term strategies, long-term forex trading strategies are less likely to lose because the time it takes to open and release positions is very long.
This strategy is very suitable for you novice traders because it is easy to use and minimal risk of loss.
However, this strategy can generate continuous profits and a very large nominal even though we have to be a little patient if using this strategy.
4. Open position at the right time
The importance of opening a position at the right time will minimize losses and increase the possible profit you get. Therefore, you have to be really right when determining the open forex trading position.
How to determine an open forex trading position
Surely for novice traders, they are still confused about determining the right open forex trading position, but there is no need to worry because here we have summarized some surefire ways to determine the open forex trading position:
1. Watch the trend movement
The first thing you have to understand is the movement of this forex trend, if you carelessly determine the open forex trading position without paying attention to the trend it will increase the risk of loss.
Do an analysis on the current trend, you have to be able to guess whether the trand will go up or down with the experience you have. Basically the experience is better than the theory of trading in this forex stock.
2. Open forex long positions
Well, if you want to do an open buy, the first thing you have to pay attention to is the movement of the trend which is stable and tends to rise.
Don't be in a hurry if you want to do an open buy, you have to focus on the movement of the trand, don't let it fall after the open buy the forex trand statistics decrease because then you will receive a loss.
3. Open a SELL forex position
You can use this method if the market is dilapidated or declining drastically, it will certainly be very profitable for traders because if you open a position when the trend is down and release the position when the trend is up, you will get a big enough profit even up to 100% from the price of the open position that you do.
The point is that an open sell is done to lock a trading position when the forex market value decreases.