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Author: Peggy Bell

The Important Features of Your Trading Platform

Understanding your trading platform is very crucial to your success. The novice traders don’t spend enough time to learn the proper way of currency trading. They start trading the market based on their gut feelings. Such aggressive actions from the new traders might help them to secure some big winners but consider the long-term fact it’s just a waste of time and money. You have to understand the importance of the manual trading system. In the eyes of the expert Singaporean traders, emotional trades are nothing but the key ingredients to ruin your trading career. So it’s your call whether you will invest your money in emotions or start trading the live market by using rational logic. Every successful trader knows the use of advanced features of their trading platform. They never place any trade without assessing the risk factors. Now we are going to discuss the most used tools in a professional trading platform.

The simple trend line tools

Every successful trader knows the importance of market trend. They never place any trade without finding the strength of the market trend. Finding the market trend is not all hard since you have your trend line tools. Connect three higher highs or higher lows and you will get your desired trend line. When you use these tools, you have to consider the daily or weekly time frame. If you use the lower time frame signal it will be really hard for you to assess the quality of your trade setup.

Support and resistance level

Support and resistance level is the key area where the traders look for potential trade setup. You don’t have to do the complex calculation to find the key trading zones of this market. Just use the simple horizontal lines to find your key support and resistance level. But when you start trading the live market you have to use some technique. Instead of considering support and resistance level as a concrete number, consider these as your zone. This will save your trade from the wild swings of the market.

Indicators and EAs

Indicators and EAs are very much popular in the exchange traded funds community. The expert Singaporean traders use the indicators to assess the quality of the trade setup. You might have very little experience in this market but if you can use the indicator in a proper way you can save yourself from many losing trades. But this doesn’t mean you will be using too many indicators to get the best trade setup. Never plug more than two indicators in the same chart. You have to keep your trading chart clean so that you can easily find the long-term market trend. Always keep your trading system simple as it will help you to make a quick decision in a high level of market volatility.

EAs are nothing but your expert advisors. It will give you early trading signals. As a full-time trader, you should never rely on EAs. Manual trading is always the best …

Avoid These 4 Things To Succeed In Trading

Currently, trading has become something reasonable, but still a small number of investors who really master the trading itself. In early trading, beginner traders often experience obstacles and blame it on market fluctuations. The real reason forex traders to lose is their approach to trading itself. Here are 4 things to avoid in order to succeed in trading. For more information, please visit trading tools

1. Overtrading

Overtrading is the main reason most traders struggle to gain momentum in the forex market. Overtrading occurs when trading with lots is too large or too frequent. As a result, traders experience a lack of capital, targets become unrealistic, and even trading saturation (trading fatigue). The solution is to train our approach to using only objective logic and methods. Plan your trading and take your position appropriately.

2. Not adjust to market conditions

In forex trading, we have to adapt to market conditions and do not rely on one strategy alone. The forex market is dynamic so traders must be able to discuss market climate changes and risks throughout trading. Remember, every risk must also have a chance to make a profit. Follow financial news and trend changes, and understand monetary policy.

3. Risk management is bad

Big and small our initial capital, we must have a risk management mechanism to protect if conditions worsen. Risk management is an important part of the trading strategy, which serves to avoid a big loss. With proper risk management, we can ensure the amount of loss will not be great.

4. Unrealistic expectations

Forex trading is not a get rich quick scheme, but one form of investment that has financial and psychological pressures. Therefore, every forex trader both expert and newbie must understand that the key to success is consistency and patience.

The desire to make big profits in one or two times trading is the wrong approach to trading. Being a successful trader means having a realistic market expectation and understanding the meaning of trading professionally.

5. Using too many indicators on the chart

Many traders who feel more be like and trust by using various indicators then the analysis will be more accurate and sophisticated. But it is the wrong paradigm because it is also more and more rules that you must follow. When there is a different signal from each indicator then you will just be confused and can’t think clearly. One of the things that will happen when you are wrong in making a decision is a big loss.

Avoid mistakes as much as you can do as long as you already understand well how to run trading. You must discipline yourself to do everything coherently from planning, consideration and some other administrative processes to execute. If you can run it well then the profit will come by itself without you doing many things.

One of the things that can be your capital is the confidence to be able to earn profits in a sustainable manner. With these beliefs then you will …