After learning the trade, what else?

In the forex trading business, everything possible would happen we can predict withgood condition price movement is going on, and it will involve existing knowledgewithin the trader.

Knowledge of the price movement is so vital once if you want to succeed in forex trading business, how the formation of prices, why the price could move, trading time, and others. Where is the variety of ways we can learn it well, whether it's by self-study or through the guidance of the mentor, anyway it doesn't hurt us too after successfully learned to create their own way of working that we want from the results of the learning method of trading.

Once we are able to study properly, we will be faced with the choice of trading methods in the practice of trading that we understand the forex trading brokers, varietyand lots of options that will make us confused myself ... hehehe

Simple once in choosing a forex broker, and when asked his fellow traders, they tend to see how convenience facilities in deposit and withdraw, wide-spread, speed of execution and easy servicing of customer service, anybody want to add again.? hehe

the trend trader in choosing the place for trading is indeed entirely to the traders themselves, and a lot of information we can though to it, either directly to the web broker or through a review of the forex forum or another.

Finally, choose carefully where we place rests in this business, that business conditions we can be supported properly and get a smooth in this forex trading business and rewarding for all of us.

by: nalaktak 

Exiting a Trade Beyond the Initial Stop

When you design an exit for your system, one of the key things that you need to consider is the purpose behind that exit. In the second edition of Trade Your Way to Financial Freedom, I identified four possible purposes that you might have for such exits. These include each of the following:

• Exits that produce a loss but reduce your initial risk
• Exits that maximize your profits
• Exits that keep you from giving back too much profit
• And psychological exit

Rather than cover each of these different types of exits, I thought I'd focus on one particular goal and show you how to use exits to meet that goal. Let's say your goal is to simply follow a trend as long as it lasts. However, you want to have a wide initial stop so you won't be whipsawed once you get into the market. You also want to give the position plenty of room to move. And finally, you also want to capture as much of your profit as you can once you reach a 4R target. Notice how these objectives fit a particular set of beliefs about the market. Your system always has to conform to your beliefs about the market or you won't be able to trade it.

So to meet your initial goal you need a wide stop. Let's say you pick three times the volatility of the last 20 days as I described in the last tip. It gives you plenty of room to make sure that the random noise of the market will not take you out of your position.

Second, you want to give your position plenty of room to move as it is going up. Again, all you have to do here is trail your three times volatility stop to meet this objective. Thus, every time you make a new high, your stop will move up to trail from that point.

Third, once you've reached 4R, you don't want to give much profit back. Thus, you decide that when your target is reached you will shrink your stop from 3 times the volatility to 1.6 times the volatility. It's that simple. Your worse case, at this point is that the market would immediately retrace and you'd get stopped out. But your new stop is probably only about 0.5R now, so if you were stopped out immediately you'd still have about a 3.5R profit. But of course, the market could continue to climb and you are giving yourself a chance for a 10R profit or more.

Notice that all of these stops are simple. They all came out of my head, just by thinking about the types of stops that you might want to use to meet the stated objectives. No testing was involved, so they are not over optimized. No rocket science is involved. They are just logical and make sense for meeting the objectives. They are simple. Notice that you also have three different exits, but only one will be active at any one time – the one that is closest to the market price.

If you want to master exits for your trading system, then you must learn the different types of exits that are available to you. Notice what each one is designed to accomplish. And then when you decide how your system is supposed to work, you'll find it easy to develop an exit that meets your goals.


Sumber:
Dr. Van K Tharp

How to Trade With Your Gut

The best traders are observers and anticipate their moves beforehand; this is called the “gut feeling”, every trader should rely on the gut feeling while trading as it is something that will undoubtedly establish to a higher degree as you gain your experience in the market.

Gut feeling can be understood by starters if we call it trading inspiration as well as high hopes, this is a very significant and dominant tool that you will need to develop to move up into the top 10% outstanding traders.

Practice Makes Perfect

A lot of professional sports players have put in massive amounts of effort and practice and because of this; they have been able to go pro, they have played with a wide range of different players and this is what gives them the gut feeling to what their opponent’s next move will likely to be, this gives them leverage out on the field, much in the same way, in your trading strategy when you’ve put in enough screen time, you will start to develop the gut feel. There are many more situations where gut feelings takes place, whether it be sports, trade or other more practical fields in life, but in all, it surely requires experience and commitment for development.

Gut Feeling and Price Action Trading

The various strategies that the trader uses will eventually become common facts to the experienced trader and as time goes on, the traders’ gut feel will help him determine if a trade is worth taking or not. Sometimes the trader may not even know why he is choosing the side of the market and not the other but his experienced mechanism will build up his thinking level, while he makes decisions the more experience and exposure that he has gotten with the charts and price action, the more prompt he will become.

It won’t come very quickly and will require lots of time of practice and experience but as you look at the charts and price actions, the gut feel will develop along with the development of strategic thinking.

-See more at:  https://goo.gl/pPHoLn

How to Think Like a Successful Trader

You’re at it again, you’re spending the day sitting before a chart and bickering with yourself over what trading card to play next.

You think you have it, you feel the adrenaline coursing through your veins as you watch all the signs point towards profit and success for you, success so close you can almost taste it but wait!- there’s a shift in the trade, and it’s unexpectedly moving against you, your shoulders sag, both your stomach and your mouth drops.

You wait and watch in dismay as the trade continues to move against you and then that’s it. You’ve lost, again, you’ve made the same mistakes you made the last ten times.

What you need to realize is that you can’t help what you’re feeling but what you can do is try and make a change. As a trader you need to understand that emotions and feeling often take over all logical thinking and successful traders keep their feeling in tow when trading amongst doing other things.

Successful Traders are Fully Aware of the Workings of Their Minds

To think like a successful trader you need to develop an understanding of your mind, especially when you are trading, a good trader knows his limits and what his goals are, he does not easily get distracted by other unimportant things while trading. Good traders know what it is that will motivate them and what kind of thoughts they should be having while trading that will have a positive effect on the way that they trade. So to get the mindset of a winner, first get to know your mind and get to know it well.

They Know the Importance of Being Biologically Healthy too

What most traders don’t realize is that their biological condition has the ability to greatly impact their mental stability while they trade. Something as simple as taking deep breaths at the right time could have been the difference between you losing or you winning. The mind and the body are linked together instead of getting worked up and letting the adrenaline take over them, successful traders exercise and know well enough what the advantages of being healthy are.

-See more at:  https://goo.gl/t4YrA6

How to Get Back on Your Feet After Continuous Trading Losses

Most of us traders have been there, incurred so many losses, so many times that we’re actually unsure of whether or not we should continue trading. Well we’re here to tell you there’s nothing you morally did wrong (unless, of course you cheated to get on top) you might have made some common trading errors that a lot of beginners tend to make.

We’re here to help you get back up when trade financially and emotionally hits you hard in the stomach and reminding you that you can’t let one streak of losses ruin all your chances of succeeding in the future.

Understand What You Did Wrong

This step is extremely very important because before you can get back up and think, “Okay, I got it this time,” you need to know what you did wrong to fail the first time around, if you don’t do this you’re just in for even more losses. There are basically two types of losses that a trader can go through;

A statistical/normal loss:

A statistical loss is one which is incurred mainly due to some sort of overvalue or undervaluation that might have effected your trade strategy, this type of loss can also be called a normal loss because it is normal for a trader to often at times lose. The fact of the matter is that there will be losers in a trade as well as winners, statistically speaking, even if you employ the most winning trading strategies, a certain percent of you will definitely be losers.

Emotional loss

Emotional loss is pretty self explanatory, all traders are humans, and human beings sometimes do let their feelings and emotions get in the way of their work. Emotional loss also refers to losses made when you let your inner feelings such as desire for revenge, greed or over confidence get in the way of you and your real trading objectives. You can even feel pressurized- especially if you’re a full time trader to gain as much profit as you can and this can lead to losses if you’re not able to handle the pressure properly.

-See more at:  https://goo.gl/VRXKYx

The US Dollar in the Aftermath of the Brexit Vote

GBP has dropped more than 8% against USD in the aftermath of Brexit vote. This is a serious concern and one should be alarmed if they trade US dollars.

Brexit 52% vote over 48% Bremain vote sent shockwaves in the International financial market on Friday. This marked an end to UK’s 43 years EU membership in a referendum that attracted a record 72% of the registered voters. The pound dropped more than 8% against the dollar in the early trading session while its Euro counterpart was down more than 7%. In the run up to the voting day, polls showed a tightly contested campaign too close to call with major pollsters showing a bias towards remain.

At 2100GMT the polling stations closed, YouGov polls showed remain with its nose ahead of leave by a 4 point lead at 52% remain Vs 48% leave. Another survey carried out by ComRes implied a 6 lead at 48% remain compared to 42% leave camp. At the end of the Friday trading session, assets worth over $10 trillion had been wiped out of FTSE benchmark as the yield on 10-year UK government bond fell below 1% for the first time in history as reported by Sky News.

It will take approximately two years for Britain to formally withdraw from the EU. Until 2007, there was no formal procedure for member states to withdraw from the EU. No member state has ever rescinded its EU membership even though the Lisbon treaty sets out the withdrawal procedures.

David Cameroon resigned after the vote, in The Guardian article “I was absolutely clear about my belief that Britain is stronger, safer and better off inside the EU. I made clear the referendum was about this, and this alone, not the future of any single politician, including myself.

-See more at:  https://www.hiwayfx.com/forex-articles/us-dollar-aftermath-brexit-vote

BREXIT: Game Changer for the UK and the EU? What to Expect Next

EU leaders have already met to ponder over the way forward after Britons surprised the world by voting to leave the EU. Ex-PM David Cameroon urged the EU to give Britain more control over immigration. Cameroon had promised the EU leaders in the run-up to the referendum that he would deliver the win. EU leaders may blame him for allowing the Brexit referendum in the first place, but as he explained, the pressure was too huge to avoid.

At the EU summit in Brussels, French President Francois Hollande, made it clear that UK must be ready to bear the consequences of leaving the biggest single market union. It is not business as usual, U.K. won’t enjoy the advantages of the EU single market after rescinding its membership without applying the rules governing trade in the monetary union, reported Bloomberg.

Ben Bernanke weighed in his thoughts on Brexit. The former chairman of Federal Open Market Committee and leading US economist says that the biggest loser is Britons themselves.  The votes open doors to numerous political and economic uncertainties in the UK. Uncertainty about how the UK will manage the trade rules with its neighbors in continental Europe. The fate of workers in the UK of foreign origin as well as UK workers in EU countries. Bernanke also makes a case on the uncertainty over the political direction the deeply divided country will take going forward.

-See more at:  https://www.hiwayfx.com/forex-articles/brexit-game-changer-uk-and-eu-what-expect-next