BEST 3 Long Run FOREX TRADING SYSTEMS How to Be a Successful and Profitable Forex Trader on The Long Run – In order to be a successful and profitable forex trader on the long run, there are three important factors you must take into account.
1. Use a Good Forex Trading System
The trading system should be profitable for a long time and must be simple and easy to apply. It should be of a mechanical nature, allowing very little or even no discretion or judgment from the trader’s part, especially if you are just a beginner trader, it is very important that you follow mechanical hard-and-fast rules: if X=Y then do Z. Below are best 3 forex trading systems you should know…
Forex High Probability Trading System – ATR ratio often reach high values after the prices quick and strong movements. Low indicator values often correspond with long periods of flat that can be observed on the market top and during consolidation. It can be intepreted according to same rules as other volatility forex trading indicators.
Forecasting method using ATR ratio is as follows: the higher is the indicator value, the higher is the probability of a trend change; the lower is the value, the weaker is the trend movement. In case the indicator value climbs above the blue horizontal line, it is time to buy or sell.
This is Highly Effective Forex TOPTREND Trading System you have to know – TopTrend or also known as BBands Stop indicator default settings (20, 2). TopTrend indicator can be your helping hand in confirming a trend, identifying trend change and setting stops.
TOPTREND appearance is pretty much self explanatory. What should be added is that TOPTREND if used alone won’t be able to save traders from losing in the Forex market. While it performs outstandingly well during good trends, it faces a fiasco during sideways channeling market.
- How to Maximize Your Forex Profits with Step Moving Average Trading and Momentum System
Advanced forex – How to Maximize Your Forex Profits with Step Moving Average Trading and Momentum System. Forex trading is the most popular way to earn extra money from home this century, but people rarely know how to maximize its benefits and limit its risks effectively enough to achieve a success rate of 80%.
Step Moving averages (Step MA) smooth the price data to form a trend following indicator. They do not predict price direction, but rather define the current direction with a lag. Step Moving averages lag because they are based on past prices. Despite this lag, step moving averages help smooth price action and filter out the noise.
2. Have a Solid Money Management Strategy
Throughout my trading career I have come to learn that success in trading is not only about using a profitable forex trading system (of course that is VERY important) but also about having a good and solid money management strategy. Trading without a clear and precise money management plan is a sure way to fail.
Also, you have to work on getting high probability trades, like using at least 1:2 risk reward ratio, trading only in the direction of the general trend and more based on your trading system rules.
3. You Must Control your Emotions
The best enemy of trader is his emotion. You have to face the emotion of Greed once you started to profit. Because of Greed, you are more likely to open more trades and increase lot sizes, without paying attention your risk exposure is increased too.
The emotion of fear most likely happened when you are in losing situation where your fear of losing push you to add more positions to cover up, neglecting the multiplied risk involved.
Statistically because of this type of emotions, only 5% – 10% of traders are profitable. Therefore, you should have the gut to discipline yourself on this.