Today we are so busy with work, family and other staff, that sometimes we don’t realize that we spend time on unnecessary things leaving the more important things aside. Every Singapore Forex trader knows that in order to trade Forex successfully, you need to avoid random decisions and need to carefully analyse the situation and the market in order to make trading profitable. Even if online trading is your main occupation, it can be done in parallel to your other activities. It should not be like “all or nothing” because the Forex market allows us to choose when to trade, so that you can properly schedule your trading hours and have enough time for other things.
You can not ignore the fact that in order to trade Forex effectively, you need to spend a huge amount of time on a constant study of Forex trading, but once you gain the necessary skills and confidence, you will need significantly less time for trading the Forex market. With other words, Forex trading may take time in the beginning and a lot of time before you learn how to analyse the charts, find good patterns and identify those signs that tell you where to place a trade or exit the market. Read more ›
Trend trading is one of the most effective systems to trade in the Forex market. However, a popular expression «a trend is your friend» theoretically does not cause any objections, but it is not always possible to implement in practice, especially for beginners. This trading strategy requires a certain level of knowledge and experience, especially the identification of the signals to enter the market.
What are the main aspects of the trend trading strategy?
First and the most important aspect of trend trading is the ability to identify a trend correctly and on time. It is recommended to use a comprehensive analysis of the market and a specific set of technical analysis tools (graphical analysis and data technical indicators). It won’t be enough to simply draw a trend line. A good Singapore Forex trend trader should not only be able to identify the presence of a trend in the market but also to determine its nature (long, medium or short-term trend), its phase, direction, strength and its interaction with major support/resistance levels. Also it is very important to identify trends at various time frames and see how they are related to each other. Read more ›
What is A Trend
A trend is a common dominant direction of a market or a certain asset. If the daily chart for EUR/USD shows an upward trend, it means that the pair moved up during the certain day, and more likely it will continue moving up further.
Trend Trading Forex Strategy.
Trend trading has a long history. Richard Dennis is a famous author of several trend trading strategies. Although he didn’t invent the trend following technique, he is best known as representative of this approach.
A famous Forex trader John Henry, was always trading using the trend trading strategy and as a result he has become so rich that he bought his favorite baseball team Boston Red Sox. I traded Forex using the strategy of trend trading for about 18 months, and finished up with profit.
Are all rules of the trend following strategy work? – Yes of course. There are many Forex traders in Singapore and other parts of the world who made hundreds of millions of dollars by following these rules. However, there are other rules of trend following, except those basic steps that you can find in any Forex For Dummies guide. Read more ›
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Indeed, there are a lot of debates in Singapore Forex forums on whether the Forex market is random, and to which extent one can predict it. I am not pretend to give a comprehensive answer on this question, the market is a too complicated phenomenon, but I will be able to give two examples from my own practice.
The first example is not directly related to the topic, but he helped me by giving me confidence and patience achieves Forex market forecasting.
Is it possible to predict the Forex market? How to create your own trading strategy?
It was 30 years ago. If anyone remembers, Lottery game was very popular those days. 36 numbered balls were mixed up together with the numbers from 1 to 36 and one thrown into the tray of 5 balls. I decided to make a program that allows you to predict which numbers will be drawn in the next drawing. Although theoretically I knew that it is impossible to predict a random process, but I was not just confident, I just know that I will find a solution. I will not describe all details of this work, but in the end I was able to consistently predict the 3 digits out of 5. Read more ›
In this post I would like to look into the deapths of Forex trading in Singapore and discuss one of the most important questions forex traders ask: how to make it work or in another words how to make your FX trading profitable.
Why do so many traders fail?
The answer is unexpected – because they give up their dream completely despite the fact that there’s so much money to be made in the markets.
It doesn’t mean that those Singapore traders do not want to make their Forex trading successful. It’s mostly because they want it too much and therefore being inpatient so often. Read more ›