No Nonsense Strategies That Will Aid You In Your Forex Trading

If you are targeting to profit in the forex market

, then you should know the effective ways on how to survive and be successful in forex trading. It doesn't only serves as your survival kit but is also stands as your key in becoming a billionaire. Who wouldn't want to become financially wealthy? Of course, everyone does. Here are some strategies that will assist you in trading currencies.

Here is a technique that is based on a technical study of the periods of trading. It's known to be the simple moving away strategy. An algorithm is utilized in this strategy that assist forex traders to somehow predict the twist and turns of the period. It will be over 12 periods and each period has 15 minutes in length. When the rate of the currency crosses above the 12th period, it will send a signal to stop and do a reverse. In this process a long position will be set up and the short position will be established. The trader will have a consistent trade in the market with either a long term position or a short term position right after the first signal.

One more good way is graphing ichimoku chart. It will identify the support and resistance levels which will produce trading signals. It is similar in moving averages. Though, there is a huge difference between the two. The ichimoku chart lines are diffirent for its chart lines are shift forward in time, creating a wider support and resistance platform. It lessens the risk of trading mistakes that traders frequently make. It uses the trend existence, direction, support and resistance in calculating.

There are four major lines in the ichimoku chart. The following info below are the lines:

Turning Line = (Highest High + Lowest Low) / 2, for the past nine days

Standard Line = (Highest High + Lowest Low) / 2, for the past twenty-six days

Leading Span 1 = (Standard Line + Turning Line) / 2, plotted twenty-six days ahead of today

Leading Span 2 = (Highest High + Lowest Low) / 2, for the past fifty days, plotted twenty-six days ahead of today's date.

These are the most advisable techniques in the forex industry. Whatever strategy you choose to use in trading, your success still depends on the commitment you offer. These are just your assistants in making decisions in the forex industry. Thru this you can assure your profit and somehow secure your investment. Devoting time to study about the field you are working in is a must. It is easy to start an investment but it is hard to maintain it and make it successful.

by: Joseph Tan

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