Now a days everybody wants to get more money and everyone is looking for such kind of ways of earnings where he put little effort and can get more profit. So here is the solution for all problems. Now a days online Forex Trading is becoming very popular among people all around the world. In forex, after learning its basics and with small investment (even with less than 100 $) everbody can start getting profits while sitting at his home. As its a totally online business, so you no need to go anywhere in any office. You will just sit at your home and do work as much as you can.
Types of Trading - Long & Short Term Trading:
There are two types of tradings;
(1). SHORT TERM TRADING:
In this type of trading you will Sell or Buy for a short period of time and with small market movements.
(2). LONG TERM TRADING:
In this trading you will put Sell or Buy for a longer period of time with larger market movements.
Trading Basics - Few Easy Steps to Start Online Forex Trading:
How to Chose a Broker?
While chosing a forex broker keep the following things in your mind;
--Broker should be having a secure website
--It should be working since long time
--It should provide online customer help 24/7 in a week
Recommended Broker:
As per my experience I would like to recommend the following broker for my viewers;
EXNESS - AN ONLINE FOREX BROKER
CLICK HERE FOR FREE EXNESS REAL TRADING ACCOUNT SIGNUP
CLICK HERE FOR FREE EXNESS TRIAL TRADING ACCOUNT SIGNUP
CLICK HERE TO DOWNLOAD FREE MT4 SOFTWARE TO START TRADING
(1). Before you go to start Forex Trading - Remember the following key points:
--FOREX TIPS & TRICKS: to start a secure trading, always start trade with a minimum account deposit of
5000-7000 USD account, and for advance traders I would like to recommend you to start with an amount of 10,000USD.
- To become a good trader, always use small sized lots (0.10 size/lot)
- Always put lots on a distance of 40 pips
- Never start trading before the release of Econmic News
- Be carefull in trading during the time of release of Economic data
- Always try to do trading more in Sells rather than Buys
- Be carefull and try to get more profit, using RSI value during high volatile market
--FOREX BASIC INDICATORS: The following are the most important and basic indicators which can help you to increase your profit.
(2). Daily Market Trend Analysis:- RSI: Put a Buy when RSI value is <30. Similarly put a Sell lot when RSI>70
- MLD: Follow the maximum number of directions of MLD arrows to get trend direction
- Moving Averages: Focus on the cross made by all the moving lines to get trend direction, by applying different colours to every line
- AWESOME:
- MACD:
Always read market trend analysis given by different experts, before to start trading.
To get daily forex market trend analysis always click on the following given below link;
Daily Market Trend Analysis
(3). Best Trading Pairs:
As per my trading experience the following are the best pairs to trade;
EUR/USD and GBP/USD
(4). Forex Trading Sessions:
The following image is showing Forex Trading hours/ sessions;
Keep it also in your mind, while trading.
(5). Forex Chart Patterns:
The following are the best and important different forex chart patterns, that could be helpful for you like when to Enter and when to Exit from Market;
Try your best to learn and apply these forex chart patterns in your trading.
Follow each and every image carefully.
(a). Forex Triple Bottom Chart Pattern:
This type of pattern shows upward trend. Similarly if this kind of pattern forms at topside then it is the down trend indication.
(b). Forex Rectangle Chart Pattern:
(c). Forex Head & Shoulder Bottom Chart Pattern:
This type of pattern is an indication of upward trend pattern. Similarly if it forms top head & shoulder pattern then it is the down trend indication.
(d). Forex Wedge Chart Pattern:
Rising wedge is an indication of downward trend and falling wedge is an indication of upward trend.
(e). Forex Double Top Chart Pattern:
During double top pattern market moves downward and vice versa.
(6). Forex Economic Calendar:
Before to start trading, go for followings to get different Economic Events, which can put more impact on the market movement;
Three Big and Important Economic Points/Events that can put High Impact on Forex Market;
a. Economic Events and Political
b. Building New Homes/ Sales
c. Interest Rate Change
Click HERE to get daily economic calendar;
Good and very informative blog for new traders
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