Simply put, the short, medium and long-term trends are the three types of trends that we see every day in technical analysis studies. “Trends are your friends,” is just one word that comes out of the study of primary and secular trends. Given the understanding that market psychology really moves the market, we can recognize that psychology is developing and ending the trends that we will see today.
Recognizing trends is one of the most important analytical skills in trading.
Not only technical traders, those who are fundamentally leaning to make the forex trend as the basis of analysis to determine entry trading.
However, learning how to look at forex trends is not as simple as it seems.
If you want signal accuracy to estimate the direction of the next price, then there are advanced methods in learning how to look at forex trends that you need to know.
Strategy SIMPLE HOw to read trend market.
Focus on Result indicator Trend detection.
Market trends Bullish / BUY —> Above 50%
Market trends Bearish / SELL—> Under 50%
If you are looking for ways to do daily trading to make a living, one important component is how you manage risk. As Larry Hite rightly stated, “Throughout my financial career, I have witnessed examples of other people I know who have been marred by failure to appreciate risk. If you don’t take the risk carefully, it will take you. ”
You need a system that ensures you have enough to move, while maintaining enough capital so that you don’t have to go back to your daily work.
A good system revolves around stop-loss and take-profit. This allows you to plan ahead and prevent high emotions from taking control of the decision.
Stop-loss – This is only the price at which you will sell shares and take a loss. This will erase your survival in hopes that it will return.
Take-profit – This is the point where you will sell shares and take profits. This will help you maintain that profit, by allowing you to sell before the consolidation period.
If you trade to make a living, consistent and stable profit is the goal, which will require a consistent disciplined mind. As Victor Sperandeo emphasized, “The key to success is emotional discipline. If intelligence is the key, there will be more people making money from trade. ”
This might sound right now, but when you get $ 2,500 on the phone and you have been staring intently at the screen for the past six hours, keeping fear is not easy. An effective way to limit your emotional responsibility is to use as much technical assistance as possible.
Keeping your emotions under control will require practice, many mistakes and even more mistakes. However, a neat trick that helps many traders is to focus on trading, not money. Take from experienced trader Alexander Elder, “The aim of a successful trader is to make the best trade. Money number two. ”
The number of human trafficking days to make a living since 2014 has increased. Is this realistic? The answer is, it entirely depends on your ambition and commitment. It will not be easy. But, if it suits your work style, you choose the right market and you use the tips mentioned, then you can be one of the few who win.