How to consistently profit on Forex
How to consistently profit on Forex

How to consistently profit on Forex

How to Profit Consistently on Forex – Many Forex traders fail, thereby reducing the curiosity of novice traders to enter the trading industry. Some traders who inevitably lose money also come up with unfavorable hypotheses and opinions regarding Forex trading .

So how can we make consistent profits in Forex trading ? When I first learned about Forex , I thought I could make huge profits in a very short time, but it turns out that there is an event for making sustainable profits.

How to consistently profit on Forex

Profit is profit and constant profit is constant and thus can be considered as constant profit. Even if the profits are low, if you continue to make profits from trading, the monthly returns will increase the salary in our office. The size of the profit depends on the size of our trading capital.

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The more capital, the higher the profit. The smaller our capital, the greater the unexpected income. The truth is if you want consistent and consistent profits.

As a trader, we have to start working the right way. Be an entrepreneur who can think about the risks you are willing to take, not a gambler. Gamblers only think about big wins and not losses.

Choosing this strategy is very difficult because every trader has a different playing strategy. But basically low risk and maximum profit are very important, maximum does not mean much but profit depends on the amount of capital.

Use Forex trading methods regularly if you want consistent profits. Don’t be too happy to change tactics, as it can lead to chaos.

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Discipline is also important to maximize our profits in Forex trading . The discipline involved is following basic strategies, cutting losses and taking risks without thinking too much.

If our position is wrong, don’t wait for the float strategy and don’t wait to cut profits, take some profits and think it’s enough to cut right away, this will increase the chances of making stable profits.

Do not open positions until we see currency or gold fluctuations. Since we open a trade position and do not monitor the position, we risk losing some of the money we have, and when we have a stop loss, we need to pay attention to market changes.

Following the trend is highly recommended by experienced traders because the chances of losing by following the trend are very low. The easiest way to find trends in Forex trading is to use simple indicators like moving average, zigzag, MACD and many more.

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It is also important to wait for the candle to close. Because the direction of the candle and the shape of the candle can sometimes be different. In addition, the instructions are also subject to change. So if we get a good signal, wait until the candle closes before declaring that the signal is real and accurate.

In fact, the bigger our share, the bigger the profit. But if our capital is small, we continue to build in such a way that our small capital will sink. Transfer of capital to open positions. We recommend a maximum open position of 0.10 lots if the capital is less than 10 million. If the capital is less than 1 million, it is recommended to place a maximum of 0.01 lots.

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These are some tips for making consistent profits based on what you have done in Forex trading . It is sometimes not easy to look for positive things. Many people think that trading is easy.

However, the more you learn to trade, the more difficult it becomes. Hopefully, after reading this post, novice traders will begin to understand and learn how to trade as an entrepreneur. This way you can get a steady profit.

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Many Forex traders fail, which reduces the curiosity of new traders as to whether they can enter the trading industry or not. In order to earn stable and sustainable profits, we need to perform and complete tasks.

Use Forex trading methods regularly if you want consistent profits. If we open a trade position and do not monitor the position, we risk losing some of our money.

Even if we have stop loss orders, we need to pay attention to market changes. We recommend a maximum open position of 0.10 lots if the capital is less than 10 million. One of the most difficult and time-consuming aspects of creating the best Forex strategy is finding the right tool or combining several Forex indicators that you are used to. The right way. Combining multiple indicators in one strategy but in the wrong way can lead to a lot of confusion, misinterpretation of prices and wrong trading decisions.

The best Forex strategies are based on a series of analyses, such as determining whether to open a long or short position on a particular currency pair, establishing the procedure for opening and closing positions, and determining the risk/reward ratio. (Risk management). The best Forex strategies are based on a series of signals from technical analysis tools such as indicators.

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This article explains how to create the perfect Forex strategy with step-by-step instructions and illustrations. Also, read our discussion of the logic behind the perfect trading system.

Forex strategies that use different indicators of the same indicator and display the same information will not work correctly. Beginning!

The screenshot below is an example of a Forex strategy using 3 momentum indicators (MACD, RSI and Stochastic). Basically the three indicators provide the same information because the basis of the movement of all three follows the movement of price movements. You can see all three indicators rising and falling simultaneously, retreating simultaneously, and even moving horizontally during periods of lack of momentum.

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The problem with combining multiple clues with the same information is that it gives you a lot of the same information and you can easily miss other things.

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Forex strategies that use two or more trend indicators can show that the trend is stronger than it really is, because both indicators produce the same information, which can also burden you with other chart clues.

The following data includes some of the most commonly used indicators in Forex strategies , grouped by category.

For more information, read our article explaining what Forex indicators are and the best way to combine them.

The screenshot below shows a chart with three different but complementary indicators. RSI measures and determines the movement of momentum, moving averages measure direction and Bollinger Bands measure volatility. Note that in this case we are not using Bollinger Bands as a trend indicator, but only to measure volatility.

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We create Forex strategies using step by step guides and show how accurate Forex signals are . Apart from that, we also recommend some additional analysis tools to filter signals better and improve the risk/reward ratio. And finally, we explain how to make it automated to avoid human error.

The MetaTrader 5 platform allows the possibility to combine indicators and this is one of the main objectives of this guide because very few of them know how to use this option in their trading applications. We create a Forex strategy by combining RSI, MA and Bollinger Bands to get accurate trading signals.

After completing the above steps, the settings menu will appear. Most indicators can be set based on a few simple parameters.

For a different time range, you can use another period. To find the best time frames for currency pairs and time periods, you can use the Expert Advisor Builder, which can test several strategies in a few minutes and come up with the most profitable ones. The most profitable Forex strategies generated by Expert Advisor Builders such as Forex EAs or Forex Robots ( Expert Advisors) can also be exported.

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To change the indicator settings directly from the chart at a later date: Right-click on the RSI and select New Value.

Attention: if you drag and drop indicators on the chart or enter the MA in the classic way, you cannot apply them to the data of the first indicator.

These two indicators are sufficient to generate a signal, but we need another indicator to filter the crossovers. Crossovers indicate a possible change in the direction of the trend. Using daily charts means that the Forex strategy targets only the long and medium term trends or medium term trend reversals.

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In the end, your graph should look like the one below. Your Forex strategy is completed and accurate buy and sell signals are generated.

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The trading system generates a buy signal when the RSI crosses above the moving average and a crossover occurs below the intermediate Bollinger Bands. We use vertical lines to determine the change in the direction of the trend and the signals generated by the intersection of the RSI and MA.

A cell signal appears when the RSI crosses below the moving average and its cross is above the intermediate Bollinger Bands. The signal appears at the end of the trading day, therefore it is also called the midnight signal. This clearly shows a changing trend. Try to avoid signals in a sideways market, using other trend analysis indicators. Read our article on how to use trendlines the right way to spot changing trends.

It is only used on daily charts and requires more information to determine the style of closing a position with a stop loss or take profit. It is recommended to be used in combination with other scientific analytical methods for better efficiency.

Also read our article on the 99.9 Profit No Indicator Forex Trading Strategy using candlestick patterns, pin bar trading, support and resistance levels, and price action. Also learn how to use fixed stop loss and trailing stop orders the right way.

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This continuous profit Forex trading strategy can be executed manually or automatically. Implementing Forex strategies manually requires sitting in front of a computer screen, looking for signals and interpreting signals.

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