NEWS TRADING FOREX STRATEGY FOR BEGINNERS
News trading forex strategy is a ‘must have’ for beginners. Forex Market is not only for experienced traders. The rookie players or newbie can also have advantages from this business. Nobody can stop people from having skills, knowledge, and strategies for forex trading. Some simple forex trading strategies can be applied for the new comers. Basically, beginners can learn any strategies free from any sites of experienced traders who want to share their experiences. It is not a secret that forex traders especially the experienced ones, have their own strategies. It starts from their price action to their fundamental and technical stick candles. However, new comers don’t have to be confused by those many strategies. Choose the one that is suitable to your characters. Here are the guidelines to have news trading forex strategy:
All the new comers have to do are:
• to know about the target to reach,
• to choose the forex products suitable for them,
• to decide the risks to bear,
• to design suitable strategies
• to stick the designed plans.
• Above of all is to have good attitudes. To be disciplined is one of them.
Here are things to consider before making forex strategies:
Money Management
Money management pays important roles in any trading activities. This is about the capital safety. Money management should go with risks management that measures your ability to handle lost. These two have to be possessed in order to maximize profits, and to minimize lost. The point is to decide real target that is in accordance with the initial capital. It is suggested to decide risks that are bearable to newbie. If beginners can manage those two things well in their strategies, they will not be influenced much by any market situations.
Simple Technical Analysis
In technical analysis usage, you will need:
• A simple method that only requires some indicators, such as trend line concept usage to see current price trends, whether it is bullish or bearish.
• General indicators to confirm moving average trend, stochastic oscillator, or commodity channel index. Those indicators will be helpful to decide buy or sell positions.
If you have mastered these basic indicators, you have to try more complicated indicators. To master this simple strategy is good as the stepping stones to design big plans to move you to higher levels. However, many new comers are not patient enough to experience this valuable step. They only think of big profits that they possibly gain in short time. While a strong mentality and the right plans are needed to gain big profits. Now you know news trading forex strategy, are you ready to use your guts to be in forex trading world?
