How to be Rich with Forex 2016

How to be Rich with Forex 2016

This article will discuss how to produce a wealth of forex business and get rich with forex trading. Most traders have to be satisfied with the average profit or even just a little. Through this article you will learn from some of the successful tips for a wealthy because of profit in forex.

 

Tips Get Rich with Forex 2016

According to the survey only 5% of traders are able to profit consistently, the remaining 95% still find a way. If you include the 95%, in order to be a successful trader you should get together with people who are 5%, rather than vice versa. If you want to survive in the forex market, the most important thing to do is to apply the trading technique consistently and get comfortable with it rather than a perfect system that can occasionally make a profit of 100% but it is not convenient to use.

Getting rich in forex business? Is that possible? Yes, if you are with deep pockets and hedge funs! But don’t worry, all of forex retails would have the same experiences.

Here, we assume that all of you already know the basic things about how the trading system works and have the enough experience about the progress of your trading trading but still mediocre. Well, the first thing you should look to boost profits is a simple change in money management and risk management. And, of course, a change of mindset. If you notice it and you do it can turn an average profit becomes greater. Here are some tips that are described further to maximize profits in forex trading:

Trading sparse but fortunately the big

Most traders think that if they are not trading, profit is not obtained, or had the forethought to not miss any potential momentum. In fact, they are often trading will experience a lot of failure than those who rarely trade. Focus only on trades that have the highest potential is huge. Do not just do the open position.

Money and risk management

Tips Get Rich with Forex 2016

Focus on huge profits. Since this is your money, so that every penny must be controlled, the management of money should be best possible. That requires a series of risk management as a hold at a position that is considered to be sufficient. This is done to prevent losses due to faster transactions resilience insufficient funds due to market movements are constantly moving in a trend. Many traders are losers as a result of a cardinal state. Then, do not quickly close the original position. Let advance your position generate sufficient profits. Last is a fast and selective trade. Tradinglah if you believe, and do not trade if you are in doubt.

Create a dynamic system with different risk

If you can not manage and calculate the risks of trading, then do not even think about trading in Forex. Many traders back to his previous job because they can not manage forex risk. A simple thought says, "You will know if you've ever lost to succeed". So do not let ourselves get caught up in despair because they have not succeeded and call yourself a loser.

Take advantage of compound

How to make quick money in forex is a lot to understand the power of compound growth account. For example, if you target 50% per year on your trading, then an account with $ 20,000 in initial capital can grow more than a million dollars after less than 10 years.

Forex is a popular and instant method alternative method for making money, but to become a success forex trader is not as easy as turning the palm of your hand, you have to seriously learn all about forex in advance to become one. After that, getting rich with forex is quite possible to reach as long as you follow the rules. Remember, there’re no easy way to get rich with forex trading. It all takes super-effort and yes, super hedge funds!

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Forex Trading Strategy

FOREX TRADING STRATEGY - "CHARIOT OF ENGINEERING" UNDER THE MOVING AVERAGE

There's only one indicator - Moving Average (MA) at the time of closing, whichever period is used in the trading process by using the strategy of "Chariot" is 40.

Forex Trading Strategy

Any currency pair, as well as the time span at any time, which ranges from one hour to one week, would fit with this forex strategy. This strategy is more suitable when used with a longer time span.

The situation is when the price moves up slowly, which often occur in the process of trading, although it also occurs when prices have a big movement in the opposite direction. This forex trading strategy is designed to be used for the condition of swing (swing) like this, when markets fall or rise. Although this trading strategy looks very simple, but it was quite effective if the price moves sideways or on the market with the general trend moving upward / downward. It is advisable to use this strategy on the weekly chart, but can also be used on the intraday and daily price chart.

This trading rules are very simple. If the price is above the moving average, you should open a long position (buy). In this case, there is no short positions opened.
If the price moves in a flat condition and the range is close to the moving average, it is not recommended to open new positions. In a situation, where in the chart, the candlestick (candle) first surpassed moving average (MA), in which the closing occurs at the top of the price range, then you should do the following:

open a position on the first candle stick, at least not at the moment the price is more than 80% of long candles in the moving average, if the price closed in the upper third of the price range;

open a long position when the price broke through the top of the candles, which are relevant to this character. Rod wax candles is considered a sign.

While the balance of the price is above and below the moving average, the opportunity to enter the market available after the price "dip" out of the moving average (MA). If the candles before of candles entrance is located on the Moving Average and closing occurs in the upper half of the price range, then this is a signal that you're ready to open a long position, but you should only enter the market when the price broke through the top of the stem of this candle.

Position to buy should be opened if the price is above the moving average (40) and a short position - below. Initially, this strategy will involve a long position.

MA on the chart indicator settings
Stop Loss is best placed at the level of the bottom of a rod wax candles before admission. Take Profit does not need to be placed as well as the use Trailing Stop. The larger the scale of time, the greater the value of a trade. Similar choices - is closing some positions, with the benchmark development and Fibonacci levels, which is placed nearby.

Before opening a position, it is important for traders to analyze the price schedule and ensure the existence of a price reversal in the SMA (40). The best thing is if the amplitude (amplitude) of the reversals occurred to the maximum, because this is a new sign of the occurrence of a consolidation. Look for a trend that is not too strong, not greater than 45 degrees. In the conditions of a bigger trend, the angle of the price will be similar to the movement of SMA (40). When you move away from this picture, it is better not to open any position. The core of this strategy is to follow a proper trend when the trend began. To avoid a delay, you can use the ADX as an additional oscillator.

Each person chooses the most appropriate strategy for himself. However, in any situation, you should try all the popular and common strategy, because you alone are going to find a suitable strategy to deliver yourself to get a steady income.

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