If you are new in the trading industry or you are trading for a long time and still have not made a lot of money then you might be doing something wrong. If you want to trade and earn then you must have the best forex online strategy trading on hand; if you have not thought of this then it is not too late. There are simple strategies that you can implement to be the best trader and to cope up with those who are leaving you behind.
Here are some of the best forex online strategy trading tips that any trader can follow or implement:
– During the entry point make sure that you know the pair you are about to trade;
– Check several interval forex charts to know the major trends;
– Plot both the high points and the end points this will show you if plot is on a downward trend for high points and an upward trend for a low point;
– Be sure that the resistance and support levels are marked;
– Before you proceed, check to see if the price is about to approach the trend line you have plotted if it is going below or through the line;
– To see if you are given a warning check the RSI indicators;
– Do not use more than 10% of your capital;
– Be careful in putting a stop loss because you might place so far that you might not earn a profit; and
– During the exit point, set your profits limit order between 30 to 50 pips.
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