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Alfa Financials | A Small Guide for Proper Forex Trade Execution  Successful implementation also goes hand-in-hand along with thorough preparation for success in Forex trading . Learning to navigate the forex markets can seem unnerving for novices; however, it's not unlikely. Here are a few steps to establish yourself in the FX market: Be in the Loop on Market News:  The importance of price action on how your trades play out cannot be dismissed. Whether you follow fundamental or technical analysis or maybe both-sudden news announcements, economic policies, reports or abrupt political developments influence your trades. Always follow market news & updates and stay well-informed before taking important trading decisions. Lower Spreads Can Be Money-Saving:  The difference between your buying price and selling price is called the spread. It is measured in pips and this difference is how your forex broker makes his money since most brokerages don't charge any ...

An Art of Understanding the Forex Market The forex market is one of the largest financial markets in the world. However, there is no set formula to trading success as many Internet marketers and scamsters would have us believe. Being a profitable trader is an art rather than a science. However, following a proper methodology along with experience and a disciplined approach will increase your prospects to succeed. Here's how you can acquire a better understanding of the markets: Learn the Art of Discernment:  Mastering the art of trading means learning to control your emotions as well as actions. It also implies that you now have confidence in your trading approach and chart analysis skills. Trying to make sense of the technical aspects is not rocket science and simpler than you think. But you should be discerning enough to trust your gut feeling on whether to enter the markets at a certain point or not. Developing such trading wisdom comes through experience and practice....

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5 Reasons Why You're Not Making Profits in Forex Trading Acquiring mastery over forex trading is a difficult task. There are many things that you may not get right or you might lack adequate skills and knowledge. As an FX investor, the main challenge is to survive to trade another day. So should you panic if you are on a losing streak? Losses are an inevitable part of trading as winning. However continuous lack of profits could mean that your trading techniques need working around. Let's analyze a few reasons why you are not making profits in forex trading: Overtrading:  You tend to overtrade by not being aware of what your trading edge or strategy is, not being disciplined or being over-confident. If you don't know what exactly you are looking for in the market you will essentially be gambling with no real edge. Thus, while trading without a plan you will overtrade as you are likely to misinterpret trading signals. Again, if you aren’t disciplined enough to foll...

Trade Forex Scientifically in 4 Simple Steps Scientists have always been the individuals responsible for bringing in new inventions to people’s lives. They have a heightened accuracy and discrete concentration in whatever they do which is the reason why they always end up succeeding. Now, imagine you have a blueprint of the scientist’s approach and the opportunity to implement it in forex trading ! Chances of achieving your goals and success will seem a bit closer to you than it already was. So, here’s how it works. Observe Well & Deep Enough:-  A scientist at the beginning of his research observes until the very end of possibility, then figures out what is it like and derives relevant and useful data. Similarly, as a trader, you should have a basic understanding of the factors that control the market. Try to find out a pattern by taking notes, analyzing how the market performs at regular time intervals, how a news release affects the commodity’s price etc.., Gatherin...

Choose an Ideal Entry Point for Victorious Trades INTRODUCTION In trading, strategies and emotions play a significant role. Apart from this Entry and Exit also play a crucial part. The way you make your entry and exit determine whether the trade will end up in success or loss. Although, you can't expect the perfect trade entry all the time this doesn’t mean that it is not possible. THE THREE PRIME KEYS TO ACHIEVE THE PERFECT TRADE ENTRY Have a daily chart time frame to tune yourself emotionally and look for evident price action signals. The chart time frame in a trading session that regularly befalls during the end of the day would be the best to analyze & plan the trading strategy because those traders who tend to trade all day long seems to be in a more disturbed state of mind. When you are continuously viewing the charts to carry on with trade and when you are anxiously waiting for a trade to emerge well, ends up in a low proba...

How to Create a Forex Trading Strategy? The word ‘Strategy’ itself is intimidating to novice traders as there are no foolproof techniques to create a flawless strategy. You might have a tight grip over the concepts of trading, but that doesn’t come in handy when creating a strategy. So, here are the basics to help you create a strategy. Step 1: Identify the trader in you The first factor to consider before developing a trading strategy is the time frame in which you can trade. In Forex trading , you can trade at your convenience, but sticking to a routine will help you make an effective strategy. Day traders are those who can spend most of their time reading charts and numbers. They make over a dozen trades in a day. Swing traders hold on to a stock for a few days, and the time they spend is only to keep themselves up to date. Step 2: Foresee the trend The better you know the trend, the better are your chances of profit. The trend is the way in which the market mov...

Being a beginner of Forex trading, you might be confused about its terminology. You may have many questions within you about how to start Forex trading ? Here are 3 simple steps to help you to trade potentially. 1.Begin with the basics of Forex trading: Initially, it's important to know the nuts & bolts of currency trading. Having good knowledge about the basic terminologies, currency speculation and also about the industry top players can help you to create your own FX strategy. Once you are done with your basics, you are ready to move further. 2.Learn & Practice: Trading requires planning, practice, and execution. Learn the fundamental & technical analysis and enhance your risk management skill set. Identify the factors that elevate your trading personality and design your own trading methodology. This could help you to be more objective than being emotional while trading. Now, it's time to implement what you have learned through the  best trading...

We’ve been through a lot of tips & tricks, hacks and lessons which could help you understand your career better and earn profits. But have you ever known the 3 qualities you need to become a successful trader in forex trading ? A trader doesn’t become successful just because he has made a trail of profits. Being successful means being consistent, being balanced, and above all, knowing what they are actually are. To be successful, make sure you adopt all these qualities. Identify Your Trading Style:- Taking the first step right forms the solid foundation for your career. You may be able to win trades with some random methods for now, but to be successful and consistent, you should definitely know what your style is. Ask yourself questions that could help get to know yourself better. To name a few: How much time can you invest per day in trading? Are you a fundamental or a technical trader? How much can you risk? The more questions you can answer for yourself, the mor...

In forex trading , Many Forex traders have made ginormous profits using chart analysis. It is designed to identify the highest probable outcome when the prices follow a certain pattern. Chart analysis has a higher chance of returning you with profits. And every analysis has a theory of the trading trend which makes it quite reliable. Head and shoulders pattern is one of the basic chart analysis methods which has a set of rules to identify the pattern and make profits. Left Shoulder: When the prices rise to a certain peak and then fall, the peak is known as the left shoulder. Head: When the prices rise again to an even higher position than the left shoulder and then it falls, the peak is identified as the head. Right Shoulder: When the stooped price from the head rises to form a peak lower than the head but almost equaling the left shoulder, the right shoulder is formed. Neck Line: After spotting the left shoulder, head and right shoulder on the chart, the lowest ...

TIPS FOR TRADING IN DOWNTREND Basically ,  there are two types of trends, U ptrend, and D owntrend. Downtrend takes place when the price gets low over a period  of time. Therefore downtrend is declared as the trend which is occurring  in the lower part of the chart. In trade, both the uptrend and the downtrend takes place eventually. It is not that people carry out trade  only during the uptrend, It is also possible during the downtrend as  well . There is a specialist who is well trained to trade during the downtrend, and some seek an opportunity to trade . Here are some tips for you to carry out  a trade during a downtrend. When a bearish trend  occurs , it is advisable to sell everything you have to get rid of  losses and make money to b uy the stocks while they are o n the cheapest level. If you are in a plan to buy stock during the breakout  to   t ake profit , make it  quick  and fast , since the market may ch...

The diamond chart pattern is one of the reliable chart patterns mostly used by the day traders to identify the potential uptrend reversals. The bearish diamond’s occurrences are far more prevalent than their bullish counterparts. The diamond pattern has enabled a large number of traders to make quick profits. Forex trading markets, because of their high liquidity, gives way to more diamond formations than any trading counterpart. Cutting the Diamond Bear An offset head & shoulders formation is chosen for the trend lines to be sketched. The left shoulder and the head are connected through a straight line. The head is then connected to the peak of the right shoulder. This forms the upper boundary of the diamond. The price must not break the boundary for it to remain in the pattern. For the lower part, the left shoulder is again connected to the trough formed after the head which is then connected to the right shoulder. Identification: Diamond vs Head & Shoulders ...

Triangles are one of the price action concepts of the chart. Triangles can reveal us many things about the market scenario, momentum shifts and the balance between bulls and bears. Triangles are made by uniting two trend lines where one is resistance and another is a bullish or bearish line. Every trend line comprises two or more than two prices thus, upper and lower trend lines necessitate at least two or more points in price. There are three diverse types of triangles and which are explained below Symmetrical Triangle Ascending Triangle Descending Triangle Symmetrical Triangle In this triangle, the upper trend line is leaning downward, and the lower trend line is inclined upward at the same angle. The connection between these two trend lines is called “Apex” whereas the base is away from the first high point and first low point. This pattern is bullish in an uptrend as it shows the high possibility of the continuation of the current uptrend. In reverse, this patter...

Rising and falling wedges Rising and falling wedges Rising and falling wedges are chart pattern formations mostly employed by day traders for their potential in predicting the upcoming price actions. It wouldn’t be precise to group wedges into one category; Wedges can either be reversal or continuation pattern. And just as the name suggests, the ever wavering graph gives rise to a formation much similar to that of a wedge. Rising Wedge: Formation Rising wedge A rising wedge is formed when the sloping support line goes steeper than the resistance line. The support line is the slope or plane below which the price actions struggle to stoop, and the line above which the price action struggles to break through is the resistance line. The distance between lines decrease gradually and when the lines come close to each other, the chart will be inflicted by a redirection. Reversal or Continuation The factor which decides the formation’s character is not how long it tak...