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How to Create a Forex Trading Strategy?

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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...
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How Head & Shoulders Pattern Work in Forex Trading?

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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 ...
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5 Reasons Why You're Not Making Profits in Forex Trading | Alfa Financials

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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...
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