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8th September 2017
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How to make money consistently in Forex trading

Making money consistently in Forex trading is really very hard. Many traders have started Forex trading with a big dream but only 5 percent of the traders have full filled their dream. The new traders often think that this is the market is easy to trade and they can make a decent amount of income in every single month by placing some random trades. But in real life trading, things are not as simple. Those who are trading this market for few months know very precisely how hard it is to make money. You can win some trades but at the end of the month, you will be one the losing sides. There are many things that you need to take care in order to shine in this trading community. Without learning all the fundamentals of this market no one will be able to understand the nature of this market. This market is so volatile that every single second new opportunity is being created. But being a trader you need to trade only the best opportunity in the financial market.

Learn the three major form of analysis

The market is traded based on three analysis. There is a tendency among the novice traders that they use only their technical ability to find quality trades. But technical analysis skills will only give you a partial picture of this market. No one can make profit consistently with their technical skills. You might know all the details about the technical parameters but still, you have to learn the fundamental analysis. This skills will help you to know how the economy of a certain country is doing relative the global market completion. Once you learn this two analysis you will gradually develop the ability to assess the market sentiment. And your trading should be developed based on this three sets of skills. If you have to lack in any sectors then this market is not going to entertain you.

Candlestick pattern trading

Candlestick pattern trading is often known as price action trading. Instead of using indicators in your trading chart you should learn the basic formation of the Japanese candlestick pattern. At the beginning, everything will be extremely difficult but if you trade with demo trading account for one month then you will see this is one of the best ways to read the nature of this market. Though we have many different types of candlestick pattern the expert traders always suggest trading the reliable pattern with a professional broker like Saxo. It’s true that if you trade with the high-class broker then you will have to bear some high fees but compared to their offered service you are actually paying nothing. To be honest, if you know the perfect way to trade then commission charged by your broker will not be a problem for you.

Dealing your loss

Dealing with your loss is the hardest part in trading. If you think that you will always win the market then you will be ultimate losers. You need to find a stable system which will allow you to embrace few losses without having any major impact on your psychology. Most of the new traders think that by trading with high lot size they will be able to make be the Forex millionaire. But this very concept will ruin their trading capital. All the professional Forex traders are well aware of this market and that’s why they are always dealing with their loss in an effective manner. They know that there is nothing wrong to accept few losses. So they always risk only 1-2 % of their account capital in every single trade.

Summary:making money by trading is the ultimate goal of all the professional traders. But in order to become a profitable trader, you must educate yourself with the proper knowledge of this industry. Always trade the market in favor of the trend and use price action confirmation signal for finding the best trade setup.

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