How Forex Traders Should Start Their Trading Day

Trading is easy with a plan in forex or any other market. Without a plan, you can avoid the possibility of hiring prices

The cost of pursuing occurs when you finally enter the end of a step and you are often caught on a business that takes you back against you.

While any amount of preparation can be prevented from placing you lost business, it is being prepared when you have been mistaken for a simple business idea is not prepared so that you can get out quickly and without Can get out of hesitation. Many experienced businessmen (in fact, including you) firmly believe that the sooner you are less likely to come out of business, the better it will be.

Step 1: Know what the news is and what the market can take

I often look to see an economic calendar that I do not take care of the guard. First of all, I want to see what are major news releases such as an announcement of interest rate, number of inflation, or employment reports or consumer confidence. It allows me to enter a new situation or be ready to manage open business already.

You can take advantage of seeing the news events of the current week and the upcoming week when you have a currency trading like a US dollar before an interest rate announcement, then you should know what type of newsprint can give you your position. Grab or remove from the outside. The important thing to stop is that the news is not being prepared for it by not seeing the calendar for the event and it gets lost in the bad situation which seems to be less appealing due to a new trend.

Step 2: Define which currencies are powerful and which are weak

Many traders have clearly made it clear that the currencies are relatively weak for other currencies and they are relatively strong. A general factor that is relatively strong is the difference in interest rate difference Interest rates are often seen as a great gauge of progress in the form of an economy.

Therefore, with the interest rates near zero, like 2013, a country is considered to be unable to be financially strong like the United States, so that it can catch high-interest rates. However, when the surface of a strong trend of economic data starts and the central bank prompts an increase in interest rates behind a currency, the currency will start strengthening.

An easy way to determine strength and weakness on a relative scale is to draw a chart like a 4-hour or daily chart on a medium-time deadline and apply to a simple moving average. If you think that a currency like a euro is constantly above the average of other average currencies such as the Japanese Yen, US Dollar, British Pound, Australian Dollar, then the Euro will be strong and it can be a risky move to sell And probably would be better to buy.

Many people like the 200-day moving average in the market because the moving average of 200 days is about one year of trading activity.

Step 3: Define the size of your business before you hand

We want to ensure that you know the risks of trading FX and if you have any questions you are welcome to reach out to you. Of course, it is true that there is a risk in every market, but due to the use of leverage, foreigners Currency can be risky compared to other markets. When you do forex trading, using excessive leverage can easily increase the effect on your account of a lost business. Leverage is determined by the size of the business that opens in relation to the balance of your account, therefore, if you have a $ 10,000 trading account and purchased for $ 1,000,000 (yes, this is possible) - USDJPY (American Dollar bought with US Dollar), you will use 20: 1 leverage. One of the best ways to avoid business, which can reduce the account quickly, it is committed to the business that you will open the size.

On 3 things you can clearly prepare Forex to do business as a professional:

1. Important news events are upcoming that can affect your business

2. Are the postures relatively strong and weak

3. When an opportunity arises, what business size will you open?

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Why Professional Traders Make Money And You Do not

I'm sure you think what works for long lasting professional businessmen. It's easy to hit some winners, but how can you put it in more consistent, long-term business success, that you can turn into full-time income? Are the professional traders apart from you?

The common day in the life of a pro-businessman is probably very different from yours, they think about what they do, many can learn from the daily habits of a professional. The novice trader is running to see the chart, is desperate to find a business, while the professional is going peacefully about himself or his routine because he knows that there is no hurry.

The mind of a pro trader and how they think

Professional traders understand their own minds and how their personality can interfere with their business success. They have identified and worked to solve these mental problems, resulting in a better businessman and person. Some of these issues are over-trading / gambling in the market, entering into a business, greedy, are afraid of having something to take revenge.

 It is necessary to develop a profitable business mindset to become a professional trader. It is something you should work on, it just does not 'happen' it starts with education, with learning about the loss of common business and understanding why you make them, then they have to fight for one Planning and hoping, to defeat them forever.

• Professional traders know they may not always be in a trade

Bulk of pro-trader are not a day-trader, because very clear, it is very difficult to succeed in day-to-day business. Most pro-merchants are calculating swing traders who know what they are seeing. Therefore, professional businessmen do not have to think about the market or want to be in a business. They think more fair about it; "Is my business on the coast? If so, then I execute my business plan, if not, I do not do business, no big deal either". The primary difference in the mentality between an amateur and a professional businessman is that the professional does not have any urgency in his business approach.They are playing only sports because they want to win it, not because they are 'trying' to make money. There is enough sub-product to win everything well to make money.

• Professionals trade when most people are too afraid to trade

In comparison to someone else, the identity of a professional businessman is that they do business, while others will not. Perhaps more specifically, a professional businessman will be in the opposite side of a business in particular than any amateur.
As an example - a tendency may be very "old", as if it should end any day, but professionals know that markets can go far beyond thinking; Even when it looks 'very high' or low, the market expansion can continue.Thus, there will be no problem in selling a professional trader in 'very high' tendency or 'very little' downtrend, whereas the amateur trader will try to take up or down and the trend will be closed for sustained loss, the trend is essentially continuing.

The strategy of a professional trader

Professionals traders wait patiently for trading strategy to setup .it can not always be just a price pattern or EMA crossover as black and white; Some professionals just know that market conditions are ripe for an entry. It can be a combination of technical and fundamental knowledge or just one or the other. The thing here is that a professional knows what they want and they do not waste energy and money that are running after something which they are not actually looking for. They have developed and developed alongside their business through years of trial and error, which have developed a strong stomach to read charts and market analysis.
They believe in their business strategy and they do not doubt whether it works or if they should use it. If you are not buying your strategy with 100% confidence then you need to think again about that strategy and learn a new one.

Capital management and managing risk

Professional is a risk and money management plan. that you dont have, is if you are losing money. Do you understand why risk management is so important? Do you understand capital protection? Do you understand the importance of creating a proper exit strategy for every business? Professionals understand these things and they have plans for them.

 Being aware of not trading correlated markets

A professional trader knows that by not reducing risk properly and trading correlated markets as a result, they have to face maximum risks that are comfortable with them. You should definitely understand market correlations and make sure that you are not doubling business conditions of two markets simultaneously, which are very correlated, for example, like EURUSD and GBPUSD.

Being aware of current market volatility, stop distance changing

Professional traders have awareness of market volatility; They understand that instability often changes and they know that according to them their viewpoint needs to be adjusted. For example, you will not use the same stop loss distance or profit target in a market that has very little volatility, as you would with high volatility.

Trading plan

A professional trader has to built his trading plan on a solid foundation, in which there are three main points: mentality, method and money. I refer to this as "3 meters of business" without a strong understanding of all three of M, without ownership and development, you will not succeed.You have to build the foundation of merchants that are 3m is. If your money management is closed, even if your strategy and mental state are at one point, you will fail. The same goes for other parts, if one of the three is closed, then you will not be able to make it.

Professionals Continue to Learn & Study

Professionals have a quality that they learn from others, who are more experienced than them. Do not be afraid of this, that you do not know all this and seek instructions and insights from others who know more than you.

A poor man is someone who thinks he knows each and everything and his knowledge does not require continue to grow. The rich man is humble and knows that to earn his fortune he should continue to read, the thirst for knowledge and personal development is greedy. 

So, if you really want to start trading and want to making money through trading, start today and learn how to trade, keep learning and never stop, If you want Forex signals then please fill the form.

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Hong Kong stock is the worst week in two months

Hong Kong's Hang Seng Index closed with a slight decline on Friday, but its biggest weekly loss in two months, as the increase in bond yields began to fluctuate in global equity.

Close to trade, the Hang Seng index closed down 40.31 points or 0.12% at 32,601.78. Hong Seng China Enterprises Index rose from 0.78% to 13,538.66

For the week, Hang Seng dropped the biggest weekly fall in two months, 1.7%.

The sub-index of Hong Seng tracking energy increased by 4.5%, while IT sector declined by 0.91%, the financial sector was 0.18% lower and the property sector declined by 0.51%.

The top gain on Hang Seng was AAC Technologies Holdings Inc. with 7.6%, while the biggest loss was China Merchants Port Holdings Limited which was down 5.29%.

China's main Shanghai Composite index closed up 0.46% at 3,462.9372 points, while its blue-chip closed at the CS3,300 index at 0.61%.

Yuan's figure was quoted at 6.2753 per US dollar 08:13 GMT, which was 0.34% stronger than previous closure of 6.2965.

The percentage of the three largest H-Shares was Haneng Power International Inc., which was below 0.60%, Dongfeng Motor Group Company Limited 0.5% and Bank of China Limited fell 0.4%.

About 2.65 billion Hong Seng index stocks were traded, approximately 104.6% of market average 30 days running is 2.53 billion shares a day. The turnover in the last trading session was 2.85 billion.

Almost, China's A-shares were trading on Hong Kong-listed H-shares at a premium of 30.84%.

The Hang Seng Index value-to-earning ratio was 14.87 as the last full trading day, whereas the yield of the dividend was 2.7%.

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Where should place a stop loss while trading

A stop-loss order is only an order that closes your position at a particular cost. It controls your risk by limiting your loss at that price.
If you buy a stock for $ 20 and decided to give a stop loss at $ 19.00 when the price reaches $ 19.00, then your stop loss order will be executed, and it prevents further loss.

Stop loss orders are normally a "market orders," meaning it will take whatever price is available once the price has reached $19.00 can be based on the bid, ask or last price touching $19.00).If no one is able to take your trade off your hands at that price You can end up with a worse price than you expected.this is referred to as slippage.
Unless you trade stocks, currencies or futures contracts with high quantity, slippers are not an issue, while the business of the day is generally not an issue.

1 When Buying Where to Place a Stop Loss Order

A stop loss should not be kept at a random level. The ideal place for stop loss is in one place, which allows the market to fluctuate in a sufficient room for a little, while it starts moving forward in your favor, but if the price goes against you, get out of your trade. One of the simplest ways to put a stop loss during buying is to keep it under "swing low".A swing low happens when the price falls and after then bounces. It shows the price which is to be found at that level.
You want to be do trading in direction of the trend. The swing lows should be moving up, as you buys.
The chart probably shows several possible entry points with stop-loss locations for each entry.

2 When Short Selling Where to Place a Stop Loss Order 
A stop loss should not be kept at a random level. The ideal place for stop loss is in one place, which allows the market to fluctuate in a sufficient room for a little, while it starts moving forward in your favor, but if the price goes against you, get out of your trade. One of the simplest ways to put a stop loss during short selling is to keep it over the "swing High".
A swing high happens when the price increases and then falls. It shows that the price is resistant at that level.
The Swing highs should be moving down when you looking for short trades.The chart probably shows several possible entries with stop-loss locations for short
trade. 

3 Define your stop loss strategies
 
Stop loss levels shouldn't be put at random locations. Where you keep a stop loss is a strategic choice, and it should be examining and practicing several methods and based on what works best for you. A trading plan is where you define the all important things like how will you enter trades, control risk, and exit profitable trades.Use trade in the direction of full trends, and use a simple stop loss strategy that provides sufficient room to move forward in your favor, but if the price moves against you, then it cuts down your losses rapidly.

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Could Part-Time Trading Improve Your Results?

If you are a busy person is a lot going on in your life, but what you are really interested in the opportunities offered by the market and you think you can do business in any way successfully your daily routine. You read a lot about the business and it seems that it is time-intensive and is basically like a full-time job. So it becomes a question, are you part can trade successfully, and if you can, it will help your trading results or hurt?

In short, the answer is yes, you can be successful trading part-time. In fact, it really can be very beneficial for your business.

How to make time for Trade during your Busy schedule

Despite what you think or read on some online trading forums, you do not need to stay on your charts for hours and hours every day. The way I do business requires only 30 minutes in one hour of your time, this is what it is.

How is it possible that you ask? The answer is simple; Focused Daily Chart Time Frame Whether you have a job, business, full-time school or just a 'busy routine', the daily chart time limit is the key here, focusing on the daily chart, if you want, Ambitious', then the chart will have to be checked once per day.

The daily chart closure is, in fact, the most important value of the day, because it shows you what price action signals have been made in that price bar on that day, then you will see it on the daily chart after the closure. It makes the analysis of the market and the whole process of business very simple, quick and easy; If you see an indication on the day that meets the criteria of your business plan, then you move the business to the place and tomorrow.If there are no signs, then you walk away and check again the next day.

It's basically how you can use your daily shade time frame, which is around you a busy schedule.It's easy, you only choose one time that is convenient for you to analyze the daily chart time frame for each day. If you want to check the markets twice a day, do so in the morning and evening, not every 20 to 30 minutes. If you do this, then the business should not spend more than 1 hour per day.

Why do you need to stay away from your chart

Focusing on the daily chart and last day data is not a good way to fit the business around your schedule. This is the best way forward for most people's business and it will significantly improve the prospects for business success.

Trading 'part-time' means that you are doing other things, they work, school, hobbies etc. The point is that the business of a person is more business than the business and becomes accustomed to business. When you are busy with work, school or other things all day, then you have a 'natural' distraction from the market.

Being ‘distracted’ can help you trade better

 You do not have to be in the market at all times, nor should you be. If you have everyday jobs, school or perhaps many hobbies every day, they should be seen as a good thing and something that can actually help you achieve business success.

First of all, due to distraction from the market, you need to do more than trade; Nobody can do business successfully after roaming around the clock in front of his computer, this will give you more business and money. Therefore, if you do not have any hobby or job or school, or have regular 'distraction' of any kind from the business, then you should consider getting one. This will give you a natural way to help you avoid over-trading. 

To be honest, if you do not have anything other than day and night business, then you will have difficulty getting the right business mindset because you will become a business customer.

You should think of your work as a good way of being forced to not see the chart all day, in other words, it is like 'easy' discipline if you meet every day with 'distraction' in your market , You will develop regularly and you will be able to see the most important view of the market; Daily chart view

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Despite more hawkish Fed, only US dollar bounce

The Federal Reserve has said that after the possibility of inflation going up this year, the US dollar recently withdrew its recent fall, but with the monetary tightening expected, the traders are waiting to see if the upcoming figures More greenback will give relief than a brief.

The US dollar, which has remained close to the lowest level of three years after the worst monthly performance since mid-2016, increased Asian trade before leaving those benefits.

Traders have said that for the non-agricultural payroll numbers to be done at the end of this week, as well as for other economic indicators, the US should be strong to help push the United States more.

American currency has struggled this year because with the strong monetary tightening in other parts of the world, with strong global economic growth, investors are encouraged to exchange their money further, and especially in the euro area elsewhere We do. 

Against a basket of currencies, the US dollar was flat on day 89.082. At the beginning of this week, it touched a fresh three-year low of 88.438

The US dollar also dropped its profit against the euro and dropped 0.1% because single currency once again traded at US $ 1.24 US $ 1.24275.

ING analysts said, "When the knee response has been a high dollar, we expect the positive impact on the dollar to be erased soon."

Not only is there a fair price already there, but synchronized economic recovery somewhere else is still a lot more American political uncertainty ... It is unlikely that the power of dollar all night could change into a trend.

There was a 3.5% increase in the euro during January, during which it was the highest level of three years above US $ 1.25, the possibility of the European Central Bank is going to normalize monetary policy this year.

Last month's underlying euro zone inflation has increased this momentum after the momentum has been increased.

Traders are awaiting European manufacturing survey data, as well as comments by European Central Bank chief economist, later on due to delays on Thursday.

The US dollar had grabbed its benefits against the yen, it increased from 0.3% to 109.56 yen, which fell from the lower level of four months of 108.28 on Friday.

US currency fell 3.1% against Yen in January, the number of factors, including worries about US trade protectionism and reflective speculation, increased, the Bank of Japan was getting ready to exit its easy monetary policy.

The head of Asia-Pacific sales for Saxo Markets in Singapore, Logical Horchini said, "The dollar / yen is still in a consolidation phase, which is still faster in the dollar boom.

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As the yield of Bond softens, the profit of US Dollar has declined

LONDON (Jan 30): 

The previous profits declined as compared to the US dollar and on Tuesday fell by 1 percent, while the US's yields pulled back from recent heights, while after the economic data the euro got stronger, confirmed that the euro zone's economy Growing on healthy clips.

Since July 2017, it has been set for its biggest monthly decline, because strong global growth - especially in Europe - and slow inflation encouraged investors to add slump bets.

The increase in the yield of global bonds, the yield of 10-year US bonds is above 2.70%; Since April 2014, their highest level has given some investors some small cuts and strengthened stronger than the dollar on Monday. 

But in the face of global danger, there is panic in equity markets, reducing the yield of bonds has proved to be less.

Gregory Pedon, co-chief investment officer at the billionaire Latham of London-based private bank, said that the dollar was also being organized by the policies of US President Donald Trump, which led to a rise in the budget deficit.

There are questions on whether the Fed rate will increase and whether it will be three or four increments, but when the interest rate difference becomes wider, the layer will provide some dollar power after year. "

0.2% was lower than the dollar, which was 89.161 against the six major currencies, which fell to the lowest level since December 2014, falling from the lowest level of 88.43 last week.

Analysts say the increase in US bond yields has given some support to the dollar this week. US 10-year Treasury yield reached a peak of 2.733% in Asian business on Tuesday, 2.70% at the highest level since April 2014.

The euro increased by 0.3%, which was US $ 1.2420, but there is still a path from the highest level of US $ 1.2538 for three years last week.

The underlying feeling in the euro area is strong.

Treasury Secretary Steven MannChinn gave a major boost to American currency with a weak dollar support last week. Trump was later trying to withdraw from those comments, and was saying that he wants to finally make the dollar stronger.

Trump said on Monday that he will address his proposed immigration overhaul in his speech and address his efforts to reduce global trade barriers to US exports.

The profit of dollar also comes when the sense of risk is on the back and decline in Asian stocks and European shares have declined.

Stirling, which is highly correlated to the risk on the currency, fell below the $ 1.40 line for the first time in a week before climbing above the level.

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