€xp€rt4x
Recommendations that change your life
Recommendations that change your life
| Our alert services are ideal for Traders at all levels:- Trading our alerts with a demo account is a fast way for Novice traders to learn the FOREX market. More experienced traders can start trading our alerts with as little as $1200 in a Mini account. Experienced traders will benefit from the convenience and using our position sizing methodology |
FREE EXPERT-4X ONLINE FOREX TRADING COURSE AND NOTES:
| Disclaimer:-The information on online Forex trading presented on this website should not be regarded as forex or currency trading advice. Currency trading and fx trading is highly speculative and should only be done with risk capital. Foreign Exchange prices rise and fall and past performance from currency trades is no assurance of future performance. This online forex trading website is a currency trading information website only. Accordingly, we make no warranties or guarantees with respect to the correctness or validity of its content. Forex traders making use of the online currency trading information presented do so at their own risk. The information provided herein does not take into account their forex investing objectives, financial situation or needs of any particular person. This site is not intended to by used as the only source of currency trading information or forex education. It is important and assumed that traders use sound trading principles when using the online forex trading information on this currency trading site. This includes trading common sense, sound money and risk management and full personal ownership of any trading decisions. Investors should obtain individual financial advice based on their own particular circumstances before making any foreign currency investment decision. |
TRADING PROCESSES DURING A FOREX TRADING TRANSACTION In order to give someone who is new to Forex trading a feel for what the trading process is, an example of a Forex trading transaction is given . BEFORE THE TRANSACTION Before entering into a trade the following should be in place. The trader should have documented his trading strategy or strategies so that it is totally clear in his mind. This strategy should include: 1 What time frame he trades in 2 What evidence he needs to see before entering the transaction, 3 What his acceptable risk return ratio is, 4 The maximum amount he is prepared to risk per transaction, 5 The criteria that he will use to exit the transaction. 6 What his transaction management strategy will be. Psychologically, the trader should be in a focused, confident, calm state of mind. The trader will be scanning his charts for evidence he needs to see before entering the transaction. ENTERING THE TRANSACTION When the trader notices the evidence he requires to enter a transaction he will do the following. 1 Assess the possible profit that can be made 2 Assess the possible risk that he will have to incur 3 Ensure that the risk return ratio is acceptable 4 Calculate the required stop loss value and the limit value 5 Enter the transaction by means of a market order or by means of an entry order 6 Complete the transaction documentation DURING THE TRANSACTION During the transaction praying does not help, calmness does. The transaction can do 3 things 1 It can turn against your expectations:- in which case your stop is there to protect you from further injury. The stop loss is a cost of trading and not all transactions can be successful. It is at the moment of being stopped out that calmness is important because if the stop is in the correct place it price, the movement could be signaling a change of trend and a possible place to enter the transaction in the other way. You can also manually liquidate the transaction at any time if new information increases the risk of the transaction. 2 It can take its time about deciding where to go. During this time it is not a good thing to watch the screen for every tick of the price movement. Rather scan the market for other or future opportunities. When the transaction becomes positive the trader has to consider whether to follow the price with a trailing stop in order to lock in profits. The trader should also continually review the appropriate value of the limit order. 3 It can turn out as expected and be limited out. Calmness during a transaction is vital as this is where trading errors occur. NEVER INCREASE YOUR STOP DURING A TRANSACTION AFTER THE TRANSACTION Stay calm and review the market for new opportunities immediately. Complete the transaction and complete a formal post mortem of what happened. This is a vital part of the continuous learning process. |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| Training Menu |
| This trading course is intended to be used in conjunction with our Forex Trade of the day site www.forextradeoftheday.com which takes strategies and concepts from this course and applies them to day to day trading. Also visit our www.Expert-4x.com site for more information |
| We hope that you find these notes useful and informative. If you have an queries or want to contribute your views to the content of these note please use the contact us facility on this site. We welcome any exchange that will enhance your Forex trading. |