Three things that you should follow to online trading account

Discussion in 'Finance' started by James Thomas, May 25, 2017.

  1. James Thomas

    James Thomas New Member

    Trading the financial instrument is one of the most complex tasks in today’s world. However, if you can master the art of forex trading then you can easily secure the best possible trades in the market and enjoys your financial freedom. If you look at the professional traders in the United Kingdom then you will notice that every single one of them is trading the live assets by following strict trading parameters. Unlike the novice traders, they have a very clear understanding about the basic of the forex market and they know very precisely how to execute their orders in the market. Though the market offers an extreme level of profit potential to the traders but if you look at the success rate in the forex market then you will be surprised to see that only 5 percent of the traders are making money by trading the live asset in their online trading account. In this article, we will discuss the amazing ways to improve your trading performance in the market.

    Use the price action confirmation signal

    The study of the raw price data in the market and executing the trades based on the different candlestick formation is known as price action trading. The professional traders are using a robust trading platform like SaxoTraderGo offered by reputed broker like Saxo to execute the best possible trades in their online trading account. The rookie traders in the online trading world depend on the indicator based trading system in the world but if your prime trading arsenal is indicators then it will be extremely difficult for you to filter the best possible trades in the market. Some of the novice traders often overloaded their trading charts with tons of indicators and they think that by using too many indicators in the market they will be able to execute the best possible trades. But this will simply increase your risk exposure in the market and you will never be able to execute the quality trades in the market. So make sure that you trade with price action confirmation signal in your online trading account by following strict trading discipline.

    Do the fundamental analysis

    Most of the novice traders in the forex market ignores the fundamental analysis and they trade the market based on technical analysis only. But if you look at the professional traders in the forex market then you will notice that every single one of them is trading the live assets based on the technical and fundamental analysis skills. Fundamental factors are often considered to be the most powerful price driving catalyst in the forex market in the eyes of trained professional. So if you ignore the fundamental analysis in the market you will have a tough time in your trading career. The expert in the forex trading industry use the fundamental factors to gauge the strength of the prevailing trend in the market. So make sure that you learn the fundamental analysis very precisely to secure the best possible trades in the market.

    Risk no more than 2 percent

    The percent rule is one of the golden rules in the forex trading industry. The expert in the forex trading world always executes their trades in the market based on proper risk management factors. They never look for any trading signals in the market in the lower time frame. Once they find the reliable price action confirmation signal in the higher time frame they assess the risk exposure for that certain trade before executing them in the market. No matter how reliable the trading signal is you should never risk more than 2 percent of your account capital in signal trade in the market. It’s true that maintaining strict trading discipline is one of the hardest parts for the forex traders but if you can trade with patience then you will definitely beat the market.
     

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