7 Forex Trading Tips and Tricks (Become a Better Trader Overnight)

 7 Forex Trading Tips and Tricks (Become a Better Trader Overnight)

 

In this post you will have at your disposal 7 tips and tricks to make your life easier as a Trader, and also useful for those starting out, as it is difficult to join certain skills and facilities alone, and what I am going to give you now were some tricks and tips that I acquired over time, with errors and correctness, and of course, curiosity:

The First Forex Tip I Have For You: It's the number for your treats near the financial market structure, so let me share with you how not to do it right in the first place and foremost, traders always go look for a particular chat, for example, they keep saying that rate 1 here is your stop loss, green is your entry, point and blue is your tick called profit level, and they are speculating at all times, thus trying influence in a certain way the values ​​of actions, and as a result, take their attention from moment to moment, so when the chat is tulmutuado, ignore and pay attention to what you are doing, because a simple error, can result in loss in your account , which is not good by the way, they aim for the nearest swing down right which is a very common thing that you know traders would do, but when you look at this a risk of rewarding the right customer you can see that you're actually risking so much you're risking a lot to make it very right, I'd say risking a dollar to make like 40 cents right to really sure if you want to improve your risk of rewarding you want to bargain close to the structure of the market, which is the example I want to share with you, this here is much better because if you look at it now your stop loss level is at the same level as your profit level of the tick is at the same level here too and the only difference is now that you are entering a very favorable trading venue you are entering into a market structure, in this case near the right resistance you do not necessarily shorten right because you may want to wait for a standard reversal of candlestick as a shooting star a low engulfing pattern before kosher then maybe the price can rise higher and then kissed down and close smaller, from from here you can see that not from a risk to reward point of view let's say you know that off you come somewhere here your stop loss is still at this level ok, let me remove some lane line, let's see what happens now is that you know you will not use a sales order limit you let the price rise and then go down and close the smaller somewhere you then your entry is nowhere here and your stop is now here now that is your risk and your reward is now from your entry point to your target profit, now you can see that you are risking a dollar for maybe earning $ 50 or even two dollars. The risk of rewarding has been improved just because you are trading close to market structures is what I mean by the number one that you want to trade close to the market structure to improve your risk of rewarding it in your tree, so this is The first tip I have for you.

Second tip: you want what is built right let me exp I stayed with those of you who have been following me for a while now that you are already a pro at it, so building simply means writing a tight consolidation where the range of the candles stays smaller and smaller so you can see that here this blue box this is what we call an accumulation here this here is a sign of strength because if you think about it certain price and resistance would generally have pressure on the right sellers looking for short resistance as for example in the previous example right I said no trader may want to consider reducing a resistance in its market structure now what happens is that after knowing ten candles 1520 candles the price is still hovering in the resistance that tells you this well tells you that the selling pressure is unable to push lower price that is because there are merchants are willing to buy and this p higher prayers is so the price may fall, so this is a sign of strength, because you know that the price is still hovering a resistance certain buyers are willi ng to buy those higher prices willing to buy in front of the resistance because they have the expectation that the price will break.

Third Tip: Deal with Highs and Lows: Whenever there are so-called Breaks, it is always where some investors lose their money, either by a bad choice in the trading timing, or out of fear, they give up trading early, and in despair, we forget to check the information that the graphic itself is explicitly delivering to us, we only always observe where our resistance is in the moment, if it stays stable, if it is not high or falling, in those moments we have to keep calm, for our negotiations to be successful, always marking their resistance, The concept is somewhat similar to build, but this time is saying that buyers are willing to buy at higher prices that is why you see the greater resistance to the lows then this is also another sign of the right strength and this is the tip for you

Fourth Tip: It's what I call the first cut, the price you can finish, and if you break right you may have lost the right move if you did not get the break up, but do not worry because most of the time the price sure will give you the chance to get back in r to catch the trend, so in this case you can use the first pullback technique because here the market offered you an opportunity to get the long right by forming a bit of a flag pattern of bull then what you can do is treat the first indent the price does not break above this high swing you can seem to stay long, possibly your stop loss you know only a distance from this low maybe somewhere here a damper away from that low swing so that's what I mean with the first dash so do not worry, you know if you miss the escape rates sure there is always opportunity I want to say there is a good chance that you may have opportunity to climb bought and catch the train well then this is the fourth tip for you the first iro rewind a

Fifth tip: You set your stop loss immediately from the structure of the market because often what traders do is say that, the market is in a good range they go long price certain hits the higher they go a lot more where they put a stop loss they put a stop loss just below that level of support and this happens well the market could very well not lower your trigger your stop the loss of ending continue more then it's okay so you do not want to put your stop loss just below support or just one Resistance is like asking the market that you know it comes, my stop loss, so I take my money, it's free, just fill in your truth, you do not want it, so what you want to do is set your stop some distance from the market structure. make it very simple, you can see here in this example, the market here is someone in a range all the right marketers can see that you know you are in a certain area of ​​tested price support once twice three times well then you know four times well so we can see that now this candle is here, this low practically knocked it down here, here is the loss here and this loss here, so this candle practically cleared all the stop-loss well in the stop-loss cluster below this area, that is why I say that you know you want to set your stop loss at some distance from the structure of the market, as you do this is very simple first you can only use the eyeball just look at the chat and see everything well let's just take some distance you know from here to her and I'll set my stop loss somewhere here is what you can do alternatively you can use an indicator like the true true range that measures the market volatility r launch this indicator you will give it a certain X value call so what you choose is value ox you can click what is this down to the right and then minus X then if the value is the market's support price is one hundred dollars and let's say X is ten dollars right put your support at ninety dollars pretty simple, so that's how you really protect yourself from getting stuck ok then this is the fifth tip I want to share with you set your stops away from the market structure.

Sixth Tip: Correct entry technique to profit from traders who break and then B will lock here is how it works so this is what I call Falls break the setup so you can see here resistance market area broke from resistance on this candle you can imagine it really in a poi nt in time this candle was looking up at going so well sorry, let me redraw this search something bullish so the market has not yet closed
any way right troll a sure day the sellers to control push the lowest price and finally straighten closed so closed that's why you have this candle here this can here practically can not here at one point instead I was really very optimistic mine buyers are in the stack stack traders on the track let's keep going to the moon and then suddenly revert and close down here so you can see that the psychology of the markets now what has happened is that the trail traders who are long and now crawl because buying the leak in a market makes reefer of 180 degrees so they are now stuck and if you think this same where the trail marketers put their stop Always be careful, not to be influenced by third parties, nor even by own Financial market, because it sharpens what everyone wants, it is to make money!

Seventh Tip: It's Order Limit, for a better reason to reward your traits, for example: so you can see more here all right this is a euro yen chart for our time as I know why everything is fine here , so This is a very typical setup that marketers would treat prices in a particular support area through a support area. Now you can test once and twice you can ruin your support level which will be pretty obvious. it's so loud right now Suddenly, what you know, a massive reversal and close to that sharp here, now, if you follow the techniques I'm going to share with you, you want to set your loss right below the level of support you want. let's say you put it somewhere here now, if this is your stop loss, let's call it L and this is going to be your input, you can see that your potential risk in this tree is very large, you can see that this is the distance of your stop the very big loss right and if you do not want to change it and I can understand this because you know if you have a bigger stop you have to reduce your position size so you know you you still have to have a good risk management right you may not want to take one to take the trade because the stop loss is too big then what you can do is use a limit order to have a loss of title and the right you you can increase your position size in this course, so an example is let me change that color, say you decide to use a member in order and you put it saying a limit order somewhere here, as you know a level Fibonacci as maybe justic of ste low swing to high swing and you identify the 50% level mark only this where you enter the treatment, your new entry is now here, let's see, it is just one of the techniques you use now, what you will notice that the your stop loss, at a certain distance from what has now been reduced, is your stopping point. The loss ratio is fine and the risk of rewarding the point of view that you have improved right instead of you knowing close to the top is what you can do is use a limit order to get a better price level, so you know how to raise the risk of rewarding you. Now the disadvantage of this approach is that sometimes the market may not reach the level you are looking at mine, especially if you set it at a very low level.