Super Useful Tips to Improve Trading Forex

Trade strategically and join winners in the Hall of Fame

Are you searching for the silver bullet in Forex Trading?

The glaring truth is… there’s NONE.

Sorry to be so dramatic… but it’s true. And acknowledging that truth shall set you free — to win pips you may never imagine!

Also, thanks for reading the content I put here online. And Sorry if the markets have been ruthless on you.

Constantly, I read wide and am very grateful to share what I distill from the books, blogs, Vlogs…everything that can help us conquer the markets with incredible Wisdom.

And just in case you never read from my wall, here are two killer pieces that can help your ailing trading journey to stardom.

Key Lessons for Forex Traders: What I Learnt from 8 Published and Professional Traders

20 + Trading Glaring Truths No One Will Ever Tell You

Yes, believe me, You can! None of us was born knowing anything!

But Hold On — Here is a Killer Trick That Can Save Your Career!

PPT method!

Have you ever heard of that?

Stands for Pre-planned trading. The concept comes from my efforts Googling around, and I was lucky to land on the portal Asia Forex Mentor — I’ve always been a lucky guy… LOL

And don’t worry. I’m not promoting anybody from the most honest portion of my heart. Fact is, you can always feel good advice from the courtesies of the internet.

In long and Short: Pre-planned trading works with a very relaxed trading mode.

You just set a target and trade by it, period. It’s the pure opposite of chasing the markets.

A target like I’ll buy Gold (XAUUSD) if it buys past the 1800 level.

Ezekiel, the Guru behind all this, says- Relax. Set your targets. Markets will always move.

And if they do not seem to move, just relax.

Go ahead, do what electrifies your life: read newspapers, read blogs go travel, listen to the waters rock beaches at the seashore… whatever you do, do it peacefully.

The other thing you need to do is do everything that a trader is supposed to do — the unwritten rules no one barks loud about:

• Like using a Stop Loss
• Verifying trends — using 4Hours or daily charts
• Using a small lot size
• Name the others….

Fast Forwards, Gold did hit and burst past the 1800 mark. In fact, the inflection went as high as 2070 an ounce.

And the truth is PPT method can work for gold (XAUUSD) following the hypothetical scenario above, bank as much.

On to More Helpful Stuff if you are New.

Observably, many FX traders fail at the onboarding phases. And ruthless marketing accounts for a considerable portion of the blame.

I’d compare learning to do FX successfully with committing to acquire a college degree or higher.

If you want to build a solid trading career, build from the pillars of personal experience — picking along the grinding highway ahead of you…

FX Trading isn’t a Get Rich Quick Scheme.

Once more, allow that to sink deep into your senses.

Just like any other online money minting machine, the rule holds. If you are out on a get-rich-quick mission, FX trading will l drive you into tucker woods of poverty.

Precisely, the most straightforward way to go about this is to — Cut your greed — go for mini and micro-lots.

It’s upon a trader to make a solid decision — going for standard, mini or micro-lots. While out there, brokers and their allies will breach the leverage gospel on a Demo account. But what a fallacy!

Don’t get me wrong. Demo accounts are a great way to help you martyr MT-4s and everything. Unfortunately, your success on demos isn’t equal to live trading — where the rubber meets the rough roads.

Micro lots allow you to test the waters- with equally minimal losses. Ultimately, you’d want to approach markets with micro-lots as you make the baby steps.

Learn to Keep Your Emotions at Bay

FX is a zero-sum game.

You lose, I gain, and the reverse is true.

And everything that goes up… must eventually come down. For how long, we may not tell, and your emotional strength must be tough enough to wait and wait …almost uncertainly.

The bottom line is, winning in FX is not a random plug-in and out sort of a game. And substantial timelines of holding a position could just be the missing icing for you to have in place a winning strategy.

No one wants to lose, and everyone wants to win.

And the bandwagon gets serious with every sort of trader out there.

To handle your emotions, study the markets. Establish a plan, trade it to win, if-else lose the least you can.

Shhhhhh!!! Listen to this. Some brokers, too, are crooks and want a cut from the pie.

As a small fish swimming among the sharks and whales, you may be a victim of pips hunting.

Prepare for the battle — learn to hold your horses. Nothing traumatizes like closing a trade… and watching the price lines drool into your favorable zones! But hold on, that must have been bad trading and out of a bad strategy.

Your Stop Loss should have protected your capital already, saving you the agony and affording you a more incredible opportunity and time to -try again.

Taking on the markets with correct leverage — small in this case, and using a Stop Loss is the silver bullet here. It can afford you to sleep without worry.

On the favorable side, if a trade goes in your favor, allow it adequate breathing space. Let the Priceline flow and cover your position with a reasonable SL. Again, if things happen in the opposite direction, you already have some bucks to pocket.

Cover you back- the ultimate need for a stop loss

Nough about this said already!

Few guys say you should not use a Stop Loss. Some brokers hit you silently with that and allow the process to flow in opposite directions.

Partially, I’ve witnessed that, and practically this narrows down to the position of the SL. The farther you set it, the deeper it punches you with losses.

Really? It’s a delicate balance between your risk-reward ratios and adequate analysis of the markets.

Overall, whatever strategy you use or not, consider the use of an SL. If not, have it documented within your strategy- and of course, you must be willing to fork out heavier losses- just in case.

6 Forex Back-Test Opportunities to Help Win You Great Pips!

AS earlier shared, PPT is for slow guys- never in a hurry to conquer the markets.

You can do everything around as if life were normal with a small lot size. But deep down, you are milking pips.

Pulling the charts, I can confirm that PPT is a possible thing!

And the thing we are looking for is the trend.

Notably, the charts are long shots — no scalping nor swinging here! So the minimum timeframe to work on here is 4-hour charts.

Let’s dive right in.

SEKJPY Daily Charts

SEKJPY on the daily charts shows a downtrend from December 2017 all the way to January 2019.

Next, an uptrend picks from March 2020 to June 2021.

The other key component here is tracing the channel. It comes out so clearly — with price reacting every time it touches the top or bottom of the channel.

MXNJPY 4 HOURS

MXNJPY has a clear uptrend on the 4-hour chart- running all the way from November 2021 to January 2022

Assuming you are a reversal trader and picked the trade right at the onset of November, you earn yourself a chance to smile.

USDSEK 4 HOURS

USDSEK on the 4-hour charts shows interesting pictures. Notice how the longer time frames are able to pull out trends with fantastic clarity.

First is the uptrend, followed by a consolidation and a resumption of the uptrend again. Of greater import here is the continuation of the trend. This is a very clear bull flag pattern.

GBPUSD (4 HOURS DOWNTREND AND HOURLY UPTRENDS)

GBPUSD here shows clearly a downtrend which respects the extremes of the channel until it breaks away by mid-December 2021

The key thing here is that out of the 4-hour charts, and there are very clear trading opportunities if t you can work with the lower timeframes but within the channels formation.

GBPZAR DAILY

GBPZAR daily here shows a very sharp bullish reaction from Quarter 1 of 2021, most probably from the COVID-19 triggers.

Typically, here, we see how markets react when a Black Swan triggers. And the same applies to catastrophes like war, earthquakes, storms, and others.

Wrapping Everything Together

Thanks for reading this far.

Forex and commodity markets can be daunting for beginners lacking the information to do it right. I’ve shared critical information in this piece, and the Preplanned trading (PPT) method is with it.

Doubtlessly, it required keen input via reading the charts and approaching markets with ripe opportunities at the right moments. And we must not repeat the use of small lot sizes and stop-loss positions.

Whatever strategy you ride on, seek foremost to protect your capital. Next is to profit safely. And combining the two, you’ll forever grow the capital in your accounts.

The last word, all this is never in hurried greed or fearful fashion, for these are the recipes to blowing accounts!

Strategy For Maximizing Trading Forex. Disclaimer: This article isn’t legal or financial advice….just meant to provoke your thoughts.