How to become a successful forex trader – Beginners guide for successful FX trading with Nihilist Rowshan & Profit Indicator. This article will teach you how to become a successful Forex trader and show you the best trading practices for beginners.
In fact, since you’re reading this, you are already on the right path to becoming a successful Forex trader.
To become a successful currency trader, you need to have a clear vision. What we mean by that is a good idea of possible market moves and your relevant actions.
There are many trading strategies available. You may choose to become a scalper, a swing trader, or a positional trader. What’s more important, however, is to develop a strategy that you feel comfortable using.
Developing such a strategy is a trial-and-error process that takes a lot of time and patience. You have understood what you are doing and why you are doing it. At this point, a demo account once again proves invaluable as it allows you to test your strategy with zero risks.
Just don’t get discouraged by how much time it takes. Keep at it, and you’ll definitely succeed.
Profit Indicator is an algorithm based on the OSMA, there are two ways to use this indicator: BUY-SELL trend following or for to filter trend-momentum arrow.
In this trading system, we use Exponential Moving Average and Nihilist Rowshan as trend confirmation.
The trading system is very easy to understand but extremely high accuracy if you discipline with the trading rules.
- Best Time frames: H1 or higher
- Recommended Currency Pairs: EURUSD, GBPUSD, and USDJPY
- Nihilist Rowshan
- Profit Indicator
- Signal Trend
- Exponential Moving Average
- Nihilist Rowshan bullish
- Profit Indicator Green line upward above Yellow line
- Signal Trend Green color bars
- 9 EMA close (white color line) above 9 EMA open (Red color line)
- Nihilist Rowshan bearish
- Profit Indicator Green line downward below Yellow line
- Signal Trend Red color bars
- 9 EMA close (white color line) below 9 EMA open (Red color line)
How to Be a Successful Trader in Forex.
This trading system is very easy to understand but extremely high accuracy if you discipline with the trading rules.
Finally, once you’ve established this trading strategy and switched to a live trading account, you move on to the next step—or steps, rather.
- Set stop-losses for every trade. Otherwise, failure is almost certain.
- Develop a trading plan and always adhere to it.
- Don’t risk more than 2% of your margin per single trade.
- Keep your emotions separate from trading.
- Never trade to compensate for your losses.
- Only trade when you feel it’s the right moment.
- Don’t be afraid of losses, every trader has them.
- Try to achieve more profitable trades than losing ones.
This is the path to follow in order to become a good Forex trader. What you’re looking at is years and years of hard work. You will be facing lots of losses and stress along the way, but don’t give up. With effort and passion, you can make up for any bad thing you may experience.