Trading plan is very important for you to be successful in forex trading.forex trading plan in pdf file. In this ebook will be cover on your plan to be successful forex trader, your trading goal, money management,your strategy and how you going to do your trading.
Would you like to learn secrets of price action trading which is used in every day trading by a 15 years trader? Continue reading on to learn real examples of how price action trading works on Forex, stock futures and gold charts!
This presentation from FXstreet.com will help you design your own trading system from scratch with a proven and practical example.
Creating a trading system is the best way to manage risk, increase profitability and avoid emotions and subjective elements from affecting your judgement when trading forex.
“Forex Trading Strategies” is a complete guide of most popular and widely used strategies in Forex trade. You can read about day trading and its main types, understand the strategies based on market analysis, learn about portfolio and algorithmic trading, and many more. The book represents the ins and outs of each strategy - why and how it is used and how to get profit from trade. It is suitable for all traders who are novice in trade or want to improve their skills. All the strategies classified and explained here are for educational purposes and can be applied by each trader in a different way.
Top 8 Forex Trading Strategies That Pro Traders UseSyrous Pejman
In this slideshow find the best Forex trading strategies including chart patterns, price rejection, correlation trading, volume-price analysis, long term daily and weekly trading, news and sentiment trading strategies. Besides, you will learn the best money and risk management methods and also the best advice by the experts to control your psychology during your trades.
Would you like to learn secrets of price action trading which is used in every day trading by a 15 years trader? Continue reading on to learn real examples of how price action trading works on Forex, stock futures and gold charts!
This presentation from FXstreet.com will help you design your own trading system from scratch with a proven and practical example.
Creating a trading system is the best way to manage risk, increase profitability and avoid emotions and subjective elements from affecting your judgement when trading forex.
“Forex Trading Strategies” is a complete guide of most popular and widely used strategies in Forex trade. You can read about day trading and its main types, understand the strategies based on market analysis, learn about portfolio and algorithmic trading, and many more. The book represents the ins and outs of each strategy - why and how it is used and how to get profit from trade. It is suitable for all traders who are novice in trade or want to improve their skills. All the strategies classified and explained here are for educational purposes and can be applied by each trader in a different way.
Top 8 Forex Trading Strategies That Pro Traders UseSyrous Pejman
In this slideshow find the best Forex trading strategies including chart patterns, price rejection, correlation trading, volume-price analysis, long term daily and weekly trading, news and sentiment trading strategies. Besides, you will learn the best money and risk management methods and also the best advice by the experts to control your psychology during your trades.
The best swing trading strategies are the ones that allow you to trade and profit from your beliefs about the market. I have added some of the most popular swing trading indicators as a guide for you to explore. The swing trading indicators listed here focus on trend trading, volatility, and overbought/oversold conditions.
A simple trading strategy for beginners with only use daily candlestcik to set the pending order buy and sell. IT is suitable for beginners to start trading forex. IT tells where to set the pending oders, where to put stop loss and and how much the target profits.
forex trading strategy that you can make money with. Can also be use by using your android and iphone metatrader.
The settings on the indicator are easy to setup. The strategy best time frame is h4 and hourly chart.
http://www.pipsumo.com/2017/04/parabolic-sar-trading-strategy.html
What are some of the advantages of using a scalping strategy to trade the forex market? - Quick profits Entry and exit is usually done within a couple of minutes. This allows for quick profits but can lead to quick losses as well. - Exit is usually within 20 minutes or less - Lots of trades Strategy uses 3 Indicators The strategy uses 3 indicators: pivot points, Fibonacci retracement and the Stochastic Oscillator. The 3 main pivot points both above and below the pivot are used for this system: S1, S2, S3 and R1, R2, R3. The Fibonacci retracement values used are the 0.618, the 0.382 and the 0.500 levels. The Stochastic Oscillator is set at 5,3,3.
Bollinger bands strategy - With Moving Averaga (BBMA)pipsumo traderfx
This forex trading strategy will be use 2 indicators.
The Bollinger bands and moving average.
Those 2 forex indicator will have rules and steps to find the entry.
In this file, you will have the bollinger bands basic settings and also the 2 moving average settings.
4 step buy and sell entry setup.
Forex Trading - How to Create a Trading StrategyBlueMax Capital
Forex trading how to create a trading strategy. The Forex Fundamental Analysis, Technical Analysis, Risk Management, Rules Successful Forex Traders Follow and Reasons Why Forex Traders Fail.
Trade Forex From Home - 10 Biggest Mistakes New Forex Traders Make (And How T...ForexTraining
Its a fact that 94% of new Forex traders fail. Read the '10 Biggest Mistakes New Traders Make' so you don't make them too. The report has been written by me, Annabel Meade from http://www.tradeforexfromhome.com. I educate people to work less and earn more trading the Forex market. How much would you like to earn working 15 hours or less per week?
A major provider of online foreign exchange (Forex) trading services, offering margin FX and commodities trading to individuals and institutional clients world-wide. Our multi-bank liquidity feed, fast execution and flexible leverage options set us apart as an industry leader. We offer our clients by sharing our dedication, intelligence and passion for trading.
Anyone who has started their journey in Forex trading must know that there is no shortcut in profitable trading. You must trade a proven forex trading strategy over and over so that across a series of trades, the strategies work well enough to produce an overall profit.
Let us show you some important Forex Trading Rules.
The best swing trading strategies are the ones that allow you to trade and profit from your beliefs about the market. I have added some of the most popular swing trading indicators as a guide for you to explore. The swing trading indicators listed here focus on trend trading, volatility, and overbought/oversold conditions.
A simple trading strategy for beginners with only use daily candlestcik to set the pending order buy and sell. IT is suitable for beginners to start trading forex. IT tells where to set the pending oders, where to put stop loss and and how much the target profits.
forex trading strategy that you can make money with. Can also be use by using your android and iphone metatrader.
The settings on the indicator are easy to setup. The strategy best time frame is h4 and hourly chart.
http://www.pipsumo.com/2017/04/parabolic-sar-trading-strategy.html
What are some of the advantages of using a scalping strategy to trade the forex market? - Quick profits Entry and exit is usually done within a couple of minutes. This allows for quick profits but can lead to quick losses as well. - Exit is usually within 20 minutes or less - Lots of trades Strategy uses 3 Indicators The strategy uses 3 indicators: pivot points, Fibonacci retracement and the Stochastic Oscillator. The 3 main pivot points both above and below the pivot are used for this system: S1, S2, S3 and R1, R2, R3. The Fibonacci retracement values used are the 0.618, the 0.382 and the 0.500 levels. The Stochastic Oscillator is set at 5,3,3.
Bollinger bands strategy - With Moving Averaga (BBMA)pipsumo traderfx
This forex trading strategy will be use 2 indicators.
The Bollinger bands and moving average.
Those 2 forex indicator will have rules and steps to find the entry.
In this file, you will have the bollinger bands basic settings and also the 2 moving average settings.
4 step buy and sell entry setup.
Forex Trading - How to Create a Trading StrategyBlueMax Capital
Forex trading how to create a trading strategy. The Forex Fundamental Analysis, Technical Analysis, Risk Management, Rules Successful Forex Traders Follow and Reasons Why Forex Traders Fail.
Trade Forex From Home - 10 Biggest Mistakes New Forex Traders Make (And How T...ForexTraining
Its a fact that 94% of new Forex traders fail. Read the '10 Biggest Mistakes New Traders Make' so you don't make them too. The report has been written by me, Annabel Meade from http://www.tradeforexfromhome.com. I educate people to work less and earn more trading the Forex market. How much would you like to earn working 15 hours or less per week?
A major provider of online foreign exchange (Forex) trading services, offering margin FX and commodities trading to individuals and institutional clients world-wide. Our multi-bank liquidity feed, fast execution and flexible leverage options set us apart as an industry leader. We offer our clients by sharing our dedication, intelligence and passion for trading.
Anyone who has started their journey in Forex trading must know that there is no shortcut in profitable trading. You must trade a proven forex trading strategy over and over so that across a series of trades, the strategies work well enough to produce an overall profit.
Let us show you some important Forex Trading Rules.
Generally speaking when new traders start trading, they do not place too much thought into their trades. Most new traders will either just buy or sell a currency pair because.....
Janis Urste Most excellent service provider. Currency trading can imply a lot of different types of trades depending upon whom you ask or talk to about it. We all know that it's what and when you trade that determines your profit or loss. Take some time to train yourself and work on your trading using the tips below.
Many traders-beginners are sure, that success on Forex depends mainly on a trading strategy and risk management, and don't think about the psychological aspect of the trading. However, emotions may affect trading process very much. The psychology of the Forex trading really exists and it is one of the things that differs a successful trader from a losing one.
Trading can be the mind game in the financial market, a loss for a person can prove to be the profit of another. As the study suggests, almost 90% of people lose money in the market whereas only a few of the remaining people gain some profit. Originally posted at Yamarkets.com
Forex or (Nadex) Binary Options, or without a doubt exchanging general, ought to think of it as a highlight purchase a participation to (BOTS) procedure advancement room. Notwithstanding your experience level, you would now be able to participate and start gaining from other astounding individuals. The general purpose of this assistance is to attempt to interface similar people together to shape a group of thoughts to help out everybody improve. Any individual who has exchanged for almost any timeframe realizes exchanging is HARD, VERY HARD. It requires some investment to create procedures and attempt to figure out how to control hazard. We help out by offering a local area in which individuals can share their encounters and what they are really going after to diminish an opportunity to gain proficiency with these significant exercises.
Forex is one of the most volatile type of investment markets and one of the most exhilarating experiences in the world. So you want to learn how to become a Forex trader, great!
Introducing Forex Fortunes Guide:- Create the Mindset Your Need Trade like a Pro. Inside this eBook, you will discover the topics about the mindset and trading, how to trade on the forex, have realistic expectations, understand the power of patience, be organized in your approach to the markets, why emotional management is critical read more
Inside this ebook you will discover about the mindset and trading how to trade on forex, have realistic expectations and have the power of patience be organised in the approach to the market etc.
The aim of this book is to give readers a brief overview on Forex
markets from the means through which traders can develop the
proper mindset when trading, how to trade on the Forex market, why
emotional management is critical to successfully trading on the Forex
market, to discussing some of the favorable qualities a good Forex
trader should posses. These aspects of Forex trading will be discussed
in depth in the other chapters that follow but for now, we tackle the
basics pertaining to Forex trading as a money making entity.
Get all the info you need here.
This ebook contains forex trading strategy about engulfing candlestick trading.
.
trade forex with only using 2 candlestick. that is engulfing candlestick.
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in this ebook, you will learn candlestick information, what is the confirmation on the candlestick reversal signal and the 2 engulfing candlestick entry strategy.
This ebook tells how to trade forex price action with using candlestick reversal signal. Candlestick reversal signal is reversal pattern that need to find in a forex chart for a clue to reversal
There are 3 entry level of fibonacci retracement. In this pdf ebook will tell you the 3 entry level. Stop loss, and your target profits.
This entry level is also suitable for beginners.
this is breakout trading strategy to use. if you understand how the breakout works.you can gain up to 100pips 200pips.
.
if you understand market trending and break out. you can make money with forex.
.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
2. Trading Plan
Disclaimer
All reasonable steps and due diligence have been taken in preparing this
document. However, it may contain ideas that are not appropriate to you or your
style of trading, so do your own research and draw your own conclusions. By itself,
this document will not enhance your trading performance, nor will it prevent you
from incurring losses. Any losses that are incurred are the
sole responsibility of each trader.
What is Trading Plan?
Trading plan is a planning strategy that how you going to be successful in forex.
This is because; only you know your own trading style. With your possessed forex
skills and knowledge, how you going to survive in this risky business. If you fail to
plan,then you are planning to fail.
Forex Trader
Forex trading is risky investment and by doing forex trading you are aware that
you are putting your money at risk!
Don’t blame forex teachers, guru ,indicators and strategy when you lose. Because
forex is not about strategy or indicators. It is about how you understand the
forex market.
Know and Understand is different. To know how to trade forex it takes 1day 1
week to know. But to understand how, it might takes 1month, 1year and maybe 3
years to understand forex market.
3. Keep Practice And Don’t Give Up!
Don’t Expect too much on forex, don’t expect you learn forex today, tomorrow
you can buy a Lamborghini to drive.
Forex Need Your Time and Your Effort!
Don’t ever dream to be a billionaire if your startup capital is only 100usd.
Don’t you ever dream to become rich even a single day you cannot make profits.
Don’t be greedy!
Please be discipline!
Goal
What are Your Income Targets?
It is important to know your financial targets and to break them down into
daily/weekly bite size chunks.
If let say, your target is 30% profits,then how much pips you going to obtain in a
week, how much profits you going to obtain in a day.
Your targets are not idle fantasies; they must be based upon your back test and
forward test results.
4. Trading Goals
Setting goals is an essential part of your trading plan as they provide you with a
Beacon to work towards, the ability to track your progress and the motivation
required to get the job done.
You need to have your goal. Let say for example, at the end of this year, you want
to buy this and have an income with this amount. Make sure you gonna achieve
this goal.
How you make your dreams come true.
Set your Goal!!
With daily target, monthly income and consistent trading strategy will determine
how you going to achieve your goals.
Example:
Let say you want to buy car,
Price : 50,000usd
In a year, we have 12months,
so you need to obtain 5000usd in a month in order for you to buy a car.
In a month, we have 4 weeks.
So you need to achieve 1250usd in a week.
In a week, we have 5 days of trading.
So you need to successfully achieve 250usd in a day.
That is the reality; you have to achieve your daily target of 250usd per day! Then
you will have you car
5. Strategy
Market Instruments
What pair that you going to use to trade?
Know the pair movement. Focus on the pair that you like. For this case, I have my
own favorite pair to trade with. My favorite PAIR is
GBPUSD
EURUSD
AUDUSD
NZDUSD
You can find your own pair that you like and easy to understand. For me, I just
recommend you to trade on major pair only. It is easy to understand.
Time Frame
Time frame that you are going to use will vary from another forex trader and
depending on the trader and trading analysis.
My trading strategy and analysis on using time frame chart. Top Down Analysis,
from the big time frame to lower time frame.
Weekly & Daily – To determine the market direction
4 hour & 1 Hour – To make technical analysis
30minutes & 15 minutes – to find sharp entry
It might be differing to other trader. Maybe forex scalper they use 4hour chart to
determine market direction and find their entry at 5 minutes to 15minutes time
frame.
Find what suites you!
6. Diversify Trading Account
This is important.
For this strategy, you will need to diversify your trading account. Create forex
account separately according to what you need to use it.
For my strategy in diversify my trading account. I open 4 trading account. And I
will use each of account to each of my favorable trading strategy.
Account 1 : Price Action Trading
Account 2 : Day Trading Strategy (Easy Profits)
Account 3 : Scalping Strategy
Account 4 : Kamikaze (high risk account)
Kamikaze is account that I am ready to loss. Therefore when I saw a great setup I
will put full margin entry. High risk, high return. If this account is at Margin Call, I
will no regret and still have another account that I can continue to trade forex.
Simply put your money that you can afford to lose!
Good Luck!!
Click Here
7. Broker
You can use and register how many broker if you want. If it me. I use 1 broker for
1 trading strategy.
Such as my trading account
price action strategy ----->> Exness,
Easy Profits ----->> FBS
Scalping Strategy ----->> Instaforex
Kamikaze Account ----->> HotForex
So in this case, you will not putting your money into 1 basket.
8. Money Management
Risk
Determine risk that you are willing to loss. The risk suggested by professional is
1%-3%
So let say,
Your capital is 1000usd, so you will only risk 10usd from it.
Related Article : How You Can Make Money With Only 3% Risk
Stop Loss
Stop loss Is very important as it can prevent your account from margin call. But
using stop loss is depending on the strategy that forex trader’s use. Some of them
not using the stop loss, some of the using 50pips, 30pips, 200 pips that depends
on the strategy that they use.
Lot Sizing
The risk exposure of each position is directly related to its position size. Bigger
position size leads to greater monetary loss and results in higher risk exposure. It
is logical therefore that the position size you trade has to be evaluated based on
the amount of trading capital at your disposal, as well as the trading losses that
you are able to accommodate.
9. Formula Lot Size
Lot Size = risk/points
Capital : 1000usd
Risk : 3%
Risk Per Trade :30usd
Stop Loss : 50pips (500points)
Lot size : 30/500 = 0.06 lot
Capital
For the beginner, you can just start with 100usd. Just get enough. Try to grow this
small amount to 1000usd. See how you going to be successful and how consistent
you are.
Risk To Reward
It depends on the strategy that you use, is your strategy using stop loss. Set your
stop loss greater than the reward.
The best risk to reward ratio is
1 loss : 2 Rewards
1 loss : 3 Rewards
50pips loss : 100 pips win
50pips loss : 150 pips win
10. Full Time Trader
You want to become a Full Time Forex Trader?
This is how to calculate your monthly expenses roughly.
What you need to take account is:
House
Car
Utilities
Insurance
Loans
And others, that is depend on you. What You need to cover all this things first.
Let say if you want your monthly income is USD1000
Monthly trade we can estimate as 20days of working days.
USD1000 / 20 days trading = USD20
So that it is, you need to achieve USD20 for each day to cover your expenses.
In order for you to be fulltime forex trader, you need to consistenly make profits
of USD20 per day.
11. How Much Your Start Up Capital?
It is depend on you. How much you set your risk per trade.
If you risk your account with 1%risk.
20usd is 1% risk of USD2000 capital.
So you need to start with USD2000 capital.
You need to know this.
How much will be you daily target profits. Is it your monthly targeted is achieved
or not.
Every month you need to withdraw your money.
So consistently achieve your daily target.
Download This FREE Money Management Calculator ExcellSheet.
You can see how with your 100usd capital can grow. You can specify your risk and
daily target. Profits withdraw 50% each month.
Click Here To Download
12. Becoming Successful Forex Trader
Record your Trades
Recording all your trades is a must and is something all professional traders do
Routinely and Comprehensively. Details to write down include:
entries, exits, stops, targets,
S&R levels, open / close, high / low of day, duration of trades and key lessons
learnt why you loss.
Follow your trading plan
After you know and understand the forex market. You need to follow your
trading plan. What is the pair that you are going to use, what is the trading
strategy that you going to use and how much capital you going to start.
Do your backtest
It is also important for you to do back test. Because you will know how your
trading strategy will give you profits. How effective the strategy that you are
using. So that you can determine how much stop loss, how much target profits
that you want to do.
Follow your money management.
The money management is really important in trading as it will affect your growth
of your account.
Make sure you use high reward ratio like 1 loss to 2 rewards and 1 loss to 3
rewards.
Sometimes it depends, how your strategy is. For scalper, they not going to use
stop loss, but the target profits only 10pip-15pips. But their strategy hit target
profits.