forex trading Archives

Posts

Opportunity Lost in Forex Trading? Breakout Trading Tips

Have you recently faced any good profit-making Opportunity Lost in Forex Trading? When you entered the market, it was way higher or lower than expected? Forex Psychology is pretty different and complex from a normal business. The stress level is much higher as the decision made gets a faster response to profit and loss.

Exclusive MFX Center Article

Sometimes we see many traders doing over trading and jumping on the trade which already lost the ground. Yes, exactly. Let’s say YESTERDAY’s AUDUSD D1 chart. A huge fall of over 70+ pips in a single day. Many traders become so irritated about missing those pips they open a sell position though the price has finished its journey to the support level. So, it can anytime shoot up or against your trade. The opportunity that is missed cannot be regained and that’s what we need to believe.

Opportunity Lost in Forex Trading?

source: forexop.com

Profit Loss that’s all named as a business. You don’t get any profit or loss if you are working in an organization. In that case, you are given a target to fulfill but in the case of Business that what really matters the most.

I personally suggest everyone not to trade on a missing opportunity or if you are really thinking that the trend will continue then please trade with a good breakout strategy. On the contrary, at least try to wait for a retracement before you continue with the trend. A good breakout strategy is not when you place a sell stop or buy stop at the near term or key level support or resistance. You need to provide a gap of some pips which is known as pips buffer.

For Example:- If the support is at 1.3700 then you should place the sell stop at 1.3690-1.3685. Because it will help you to save yourself from the fakes that the market makes. For breakout trading and any kind of professional trading always use an ECN broker cause some broker as I experienced with them. NON-ECN brokers take orders much earlier than the point to be reached. For example, if you are looking for a pending order at 1.3785 but the broker takes the trade at 1.3788 then it would not be appropriate for a breakout trading. This type of position laundering is done by the broker for the spread to match the point of a position opening. So for any kind of trading strategy where you might use pending order always go for a true ECN broker or an ECN account.

Understand the Market Context Before Breakout

source: chriskyle.com

if you are trading in the market for a while, you need to understand certain things before you predict any breakout. These things are very few in numbers but have a great impact. The elements are :

Market Swing Squeeze
Market Flow Variables (Impulsive or Corrective)
Volume Accumulation or Distribution
Price Volatility Rate

When a trader is looking at a key level and the price resides near the level, these elements need to double-check. In certain cases, if the breakout has already happened, we should not jump on the trade thinking that we are losing the opportunity. So, if a breakout of any key level or event level has already taken place, we should be looking forward to a retest from the key level which actually happens quite often. Get up to 25% discount on our Lifetime Membership based Training course with exclusive services FREE for lifetime. Join Today by click here.

Why Market Retests After a Breakout?

chart source: Tradingview.com – Follow us on Tradingview – Rocky Hasan

You might be asking if a market has broken out, why it will fall back to retest the same level? What is the logic here? The logic is simple, breaking a strong price level does indicate certain profit-making of the bulls or bears in the process. A strong break requires Market Swing Squeeze which means accumulation bullish or bearish trade orders. As the price volatility increase and volume accumulate or distribute impulsively beside a strong level that means the price has a greater chance to break above or below the level. Therefore, after the break, the price will retest the broken level again. Mainly to have further volumes and order accumulating for the upcoming trend continuation.

For instance, you can use any dynamic level indicator carry function to understand the squeeze and price volatility. There are also certain chart patterns like Pennant, Ascending or Descending Triangle to help you understand the squeeze in the price before a breakout. To learn advanced patterns and Pre-Breakout strategy, Join MFX University Advanced Trading Course today with a discounted price.

Read More articles from our desk to enhance your trading for FREE and make profits from your trades. Click here to visit our Library.

Subscribe to our FREE services from our website Home page – www.mfxcenter.net

12:52 pm/0 Comments/by MD. Rockybul Hasan

JUST FOUND AN ANSWER ABOUT FOREX TRADING (EPISODE 2)

Forex Article

If you have read my first article on JUST FOUND AN ANSWER ABOUT FOREX TRADING Episode 1, proceed to this article. Or else click on the article title to read that article first before continuing. As I have included some advanced stuff here, you will need to understand the first article before continuing to this article.

MFX Center Exclusive Article Saga

What a FOREX trader or any trader or any businessman desires? Information or Analysis or Setups or Suggestion? What’s your view? No, Everyone in this world, looks for PROFIT. It’s our social need. We need money and money comes from Profit. Isn’t it?

Just Found An Answer About Forex Trading Myths

image source: fxdailyreport.com

Why people are living in big houses and some are in slums? Why people are walking around the streets while others are travelling in Air-conditioned car with maximum comfort? Its all about money and as a trader or businessman money comes from profit.

What would be the best gift for a trader? Analysis? No. Then Good Indicator or system? No. What then? It’s the profit-making scenario. If a trader makes a profit, he becomes confident and becomes happy, but if the trader buys an online course does he seem that kind of happy like the time when he made profits. Answer simply No. So, after writing all these lines, I just wanted to express and let all of you understand that why we are trading and why we want to trade. And all answer describes one-word PROFIT.

So, after reading above, you might be thinking, what rubbish is this? Is this an article or a joke? My friend, its reality. I am showing you this again, I know you work on it and you know it very well but you don’t recognize it properly. That is the problem.

THE HOLY GRAIL TRADING SYSTEM

image source: eradity.com

Recently one of a student found an indicator named HOLY GRAIL costing about $620. Believe me guys he was so interested that he really wanted to use that. He was very much influenced and believed that it would make him profitable. But, the one and only thing that can make a trader profitable is his own trading sense (MINDSET and Trading Literacy), Nothing else.

Do you know who is your real enemy? No, it’s not other traders or your competitors. It’s solely you. You are responsible for your profit and losses. Traders become frustrated when they lose and they become over and over and overconfident when they win. They try to make more when they win, that’s good, we all think like that but at what extent? If we lose, we try to recover our loss with more trade named as over trading and they lose more. Yes, it’s guaranteed. LUCK? Believe me, if you believe in luck totally for trading FOREX. You are a gambler. Stay away from the trade. Don’t misbehave with the market, don’t harm yourself. Cause when you misbehave market does not get affected, the affected element is you. So beware. To learn how to trade like a professional and build up your trading career, join MFX UNIVERSITY with Lifetime Access today.

Simple Solution to The Forex Trading Problems

image source: ForexTraders.com

So, what to be done? Just try to read the market. I always tell my fellow students, followers and everyone I know who trades FOREX, Futures etc. Just to keep it simple. Always remember, if you try too hard, it might rip off. Just think of a rubber band, if you try too hard to stretch it at its max, after a certain period of time it will rip off from the middle. That’s what we traders do. We try too hard. We search for good indicators, we search for the holy grail, we search for system etc. but we always forget we are really searching for that is PROFIT.

There are thousands of indicators, everyone is telling that their systems are the world’s best system. But do you know, if worlds best system belongs to you then you will not be making a profit. Why? Its because the system does not suit you. When a system does not suit you, whether its EARTH’s best system.

So, what’s the solution? Search on the whole world? No, just try to keep it simple. Remember, when we try to mix something complex we become confused and we take the wrong decision. According to a survey, students mostly fails in MCQ based examinations cause the options to seem too relevant with each other to confuse him/her. So, try to keep your trading very simple. Check our simple rule-based article on how to keep things simple in trading, techniques from the movie 3 idiots.

Indicators Are Not Bad

You are using indicators, good, use only 2-3 maximum even the world’s renowned scammer KARL DITTMANN’s indicators also can make a profit. How? I myself made a good profit with his indicator systems. Its because every indicator and systems are made of some algorithms and if a trader can track that, then the magic begins. So, first, you need to know the functionality in case of using any indicators or systems then go for profit but we traders we are in a rush to lose our money here.

I see many screenshots with huge profit scale, they are doing 20+ trades in a day. Don’t do that, its a business not a coin collection game like Subway Surfers. Don’t try to run to get profits, you may be smashed by a train soon. So, beware. Learn to be a profitable trader by learning from a worldwide known analyst and trainer with Lifetime Acess, Join MFX University today. Click here to join now.

Keeping it simple, is the main rule. To know more about it stay tunes to MFX CENTER. The next episode will bring in some new techniques to keep it simple along with certain rules and make profit consistently.

Thanks for being with us
MD. Rockybul Hasan
Founder and Chief Analyst
MFX Center

7:49 pm/0 Comments/by MD. Rockybul Hasan

Just Found an ANSWER about FOREX Trading. (Episode 1)

Forex Article

We all have been looking for some answers while we are trading in the markets. I just found an answer about Forex Trading which might also help you all to know your shortcoming and act on it to improve your trading results. This article is of 3 episodes. So, just read the first one as the next 2 articles are published on the same website.

Yes, answer to what? Answer to a very common question every trader always ask himself or herself.

MFX Center Exclusive Article Saga

Just Found An Answer to Forex Trading Question

www.mfxcenter.net

The question is “Why I am loosing so much rather than gaining?”

The answer is very simple cause you are trying too hard. You might say what the heck, how come by not trying too hard you will get good gain?

Lets properly understand what I m trying to make you learn.

First, as a trader, you should have a plan. Many of you might be bored by reading this line. You might have read it 1000s of times but having a plan is not like making a Multinational Business Plan. Many traders make trading look uncomfortable by trading when you should not trade. Let’s say if a Dog is trying to sleep but you want to take him to walk on that particular time, no matter how generous the Dog is with you it will bark on you. Same as Forex Market, Why to trade when the market doesn’t want anyone to trade on it. That’s why making a plan is important. How to plan?

Steps to Plan Your Trade and Trade Your Plan

www.mfxcenter.net

Just follow these steps:-

1. Select maximum 3 pairs (1 Major with another opposite correlating Major with Different Exotic or cross with less spread)

2. Find out S/R of the particular pairs you selected to analyze. You can see daily pivots as well as find out strong support and resistance. Channel drawing and Trendline drawing may also be effective to get on with S/R.

3. Try to read the market, or listen to it what it really wants to express. Let’s keep it simple when a baby is crying for a bar of chocolate you cannot pacify him with a toy like this when the market is going for a scalp situation why try to do long term? When is the market saying don’t trade now why you are looking for a trade? So, reading the market mind is not possible with less knowledge, we all know hammer pattern, Doji, Pin bar, Marubuzo etc. but do we know what these patterns are usually trying to say? Do we have any idea when to trace a fakey? No, we don’t for which we make losses. Even I make some losses by even reading the market in my way as nothing is 100% anywhere.

In my opinion FOREX market reading is like reading a woman mind, where you can’t predict what’s coming next rather than finding probability. Let’s say, you gifted your wife a golden ring, she was very happy. Again you gifted her a golden ring with a different design, she was so happy that she made you chicken biriyani then again you gifted her another golden ring, now she will be exhausted. Why? Cause you are not trying to read the change of demand. Like if you have a LED tv why would you want another rather than getting a Playstation with the money? So, Don’t try to feed the FOREX market with same trade style or indicator. Remember market change like the weather of LONDON. On that, I read an article on Daily Star newspaper today, a quote, ” WE MUST ALL OBEY THE GREAT LAW OF CHANGE. IT IS THE MOST POWERFUL LAW OF NATURE”.

So, be with the change, try to re-educate yourself, again and again, cause a filled cup is no good for re-pouring. Check out Episode 2 of the article for more insights and techniques to overcome trading fear.

Learn from the professional trader and trade for living with MFX University. Join MFX University Today. Exclusive discounts and offers are available for the students. Check out our 2nd episode this article saga.

Thanks for reading
Md. Rockybul Hasan
Founder of MFX – www.mfxcenter.net

12:16 pm/0 Comments/by MD. Rockybul Hasan