Forex Signal and Education

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Many traders make the mistake of trying to find the best trading strategy.

In reality, it's about knowing yourself so you can find the best strategy to suit you.

Key Takeaways

Day-trading takes multiple trades per day and is primarily best for someone with a lot of spare time on their hands and has the diligence to observe multiple markets per day.

Swing Trading means taking a couple of trades per week, targeting to catch a full “swing” in a market, meaning they will be holding this position over a couple of days or weeks. This is best for someone who wants to treat trading as a “side-hustle” while still taking on full-time work or business.

Neither strategy is better than the other. Traders should choose the approach that works best for their skills, preferences, and lifestyle.

Swing Trading

This trading style gets its name from traders aiming to benefit from the natural “swing” or a market. Rather than being focused on an exact time, these traders try to spot the beginning of a directional price movement, enter a trade, and hold on until the movement dies out. Swing traders keep their positions open for several days, or even weeks, if the “swing” keeps going that long.

The biggest lure to swing trading is that it targets people who do not want to spend their whole day scanning different charts looking for opportunities, but instead want to open a couple of positions per week and leave them to run until TP or SL. Full-time employees looking for an extra income source could be of interest to this style as it is not time-intrusive and can integrate with their work and leisure time. This is far less time and effort than day trading.

Swing trading is usually practiced on the H4 and Daily timeframe. This way, traders can see and try to catch the full “swing” of a market. They tend to have slightly wider stop losses, not to be falsely caught out of a trade that is going well.

Day Trading

This style of trading, as the name suggests, involved opening multiple trades throughout a single day. Their objective is to consistently make medium-sized profits on numerous trades and cap losses on losing trades. This could be based on any analysis, whether that is purely technical or fundamental, or a mix of both. Day traders tend not to keep any positions open overnight or throughout the weekend.

The biggest reason to be a day trader is that it does not require a large account to start with. There are thousands of examples of people flipping 2 or 3-digit accounts into tens of thousands of dollars, if not more. Depending on if you possess the necessary traits of a successful day trader like patience and discipline, there is a strong possibility of chance to catching spectacular profits in a short space of time, like the ones swing traders take multiple days or weeks to catch.

Day trading is very time intensive. It requires tight, active trading on small timeframes such as the M30, M15, and M5. This can get a little difficult and stressful; however, it is also potentially very rewarding. It requires at least some degree of focus for the duration of the entire trading session.

What's More Profitable: Day Trading vs Swing Trading?

You'll often see traders’ group themselves into one of these two categories, and they're either day traders or swing traders. Today we're here to consider which trading style better.

Education will set you aside from the 99% when it comes to trading! 🧠

Take the time to study the markets and your past performance - where can you improve?

Forex Signal and Education updated their website address.

👉🏻What is forex?

Quite simply, it’s the global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.

If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

You go up to the counter and notice a screen displaying different exchange rates for different currencies. An exchange rate is the relative price of two currencies from two different countries.

You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!” When you do this, you’ve essentially participated in the forex market! You’ve exchanged one currency for another. Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.

Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.

It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.

👉🏻What is forex?

The foreign exchange market, which is usually known as “forex” or “FX,” is the largest financial market in the world.

The FX market is a global, decentralized market where the world’s currencies change hands. Exchange rates change by the second so the market is constantly in flux.

Only a tiny percentage of currency transactions happen in the “real economy” involving international trade and tourism like the airport example above.

Instead, most of the currency transactions that occur in the global foreign exchange market are bought (and sold) for speculative reasons.

Currency traders (also known as currency speculators) buy currencies hoping that they will be able to sell them at a higher price in the future.

Compared to the “measly” $22.4 billion per day volume of the New York Stock Exchange (NYSE), the foreign exchange market looks absolutely ginormous with its $6.6 TRILLION a day trade volume. The currency market is over 200 times BIGGER! It is HUGE! But hold your horses, there’s a catch!

That huge $6.6 trillion number covers the entire global foreign exchange market, BUT the “spot” market, which is the part of the currency market that’s relevant to most forex traders is smaller at $2 trillion per day.

And then, if you just want to count the daily trading volume from retail traders (that’s us), it’s even smaller. It is very difficult to determine the exact size of the retail segment of the FX market, but it’s estimated to be around 3-5% of overall daily FX trading volumes, or around $200-300 billion (maybe less).

So you see, the forex market is definitely huge, but not as huge as the others would like you to believe.

Don’t believe the “forex is a $6.6 trillion market” hype! The huge number sounds impressive, but a bit misleading. We don’t like to exaggerate. We just keepin’g it real.

Aside from its size, the market also rarely closes! It’s open virtually round the clock.

The forex market is open 24 hours a day and 5 days a week, only closing down during the weekend. (What a bunch of slackers!)

So unlike the stock or bond markets, the forex market does NOT close at the end of each business day.

Instead, trading just shifts to different financial centers around the world.

The day starts when traders wake up in Auckland/Wellington, then moves to Sydney, Singapore, Hong Kong, Tokyo, Frankfurt, London, and finally, New York, before trading starts all over again in Wellington!

In the next section, we’ll reveal WHAT exactly is traded in the forex market.

No one can consistently predict the markets, call tops and bottoms.

So just follow price. Ride winners. Cut losers.

You'll be much further ahead than trying to outsmart the market.

🔴Quick-fire effective practices to increase drive and self-discipline when trading:

1. Actively strengthen your behaviour and reaction towards any all types of trading scenarios.

2. View your trading as a business and a personal investment.

3. Improve and manage self-control for optimal efficiency during trading sessions.

4. Minimize carelessness by developing a more methodical way of thinking.

5. Always be aware of your level productivity to maintain discipline, quality and focus.

Master your discipline and we guarantee the wins are pouring in!

Training Your Mind For Markets

Your expectations should be realistic and achievable in the first place.

You will not make millions in your first month.

Forex is a business, and not a get rich quick scheme.

Being a business, take it slow; slowly learn from the mistakes you have made, learn to effectively use your trading platform, brick by brick until you are successful.

I have never heard of a successful trader who made it through over trading and over-leveraging.

Here are some tips:

1.Learn to be patient with forex markets

2.Be a long-term trader.

3.Chose quality and not quantity.

4.Maintain a trading journal.

5.Have a written trading plan.

6.Develop your trading edge before diving into the market

These are so key for your development!

Always take something from a loss. The quicker you learn where you are going wrong, the better you are at avoiding it in the future.

🔵Want to grow your forex account?

Many traders get sucked into trying to rush the process for growth, which in turn leads to the undesired blowing of an account.

BUT there's some points that you should take note of that can you help you stay on track when growing your account:

1. Avoid emotional decisions
2. Set a risk level that suits your trading style
3. Let your winners run
4. Cut your losses
5. When in doubt, do not trade
6. Do not overtrade

🔴Clarity of mind is paramount if you intend to become a successful trader.

The problem unfortunately today, why many fail, is because as traders we exist in a world fueled by the prospect of financial gain, which in and of itself triggers unwanted emotions.

So how can we act logically when there are so many emotional strings attached?

One tip of dealing with this:

🔷Know where you’re getting out before you get in. So, know the exact level at which you intend to close your position should the market move against you, but do so beforehand.

Once you have money at risk, the line between logical and emotional decision making becomes the real challenge.

But if you define your plan of attack before putting capital at risk, you are less likely to be swayed by your emotions and thus stand a greater chance of profiting while at the same time protecting your money.

Any questions 👉🏻

🔴𝐈𝐭'𝐬 𝐧𝐨𝐭 𝐮𝐧𝐜𝐨𝐦𝐦𝐨𝐧 𝐟𝐨𝐫 𝐛𝐞𝐠𝐢𝐧𝐧𝐞𝐫 𝐅𝐨𝐫𝐞𝐱 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐭𝐨 𝐭𝐡𝐢𝐧𝐤 𝐭𝐡𝐚𝐭 𝐦𝐚𝐤𝐢𝐧𝐠 𝐦𝐨𝐧𝐞𝐲 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐨𝐧𝐥𝐢𝐧𝐞 𝐅𝐨𝐫𝐞𝐱 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐢𝐬 𝐟𝐚𝐬𝐭 𝐚𝐧𝐝 𝐞𝐚𝐬𝐲.

BUT! Most of know that it's a process that takes time, dedication, commitment, and patience, if you want to be successful and profitable in when trading Forex.

The main thing you as a trader, needs to understand is how to handle risk properly.

So, we've decided to list what you should be doing when it comes to risk.

1. ONLY INVEST MONEY YOU DON’T NEED
2. THINK ABOUT YOUR RISK TOLERANCE
3. CONTROL YOUR RISK PER TRADE
4. KEEP YOUR RISK CONSISTENT
5. TAKE CURRENCY CORRELATIONS INTO CONSIDERATION

These tips are just the the basis to better manage your risk, as you research further, you will find more and more techniques/strategies to better your chances in the market!

You can’t avoid the loses but you can control it by proper 𝗥𝗶𝘀𝗸 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁.

🔴𝐖𝐡𝐲 𝐃𝐨 𝐈 𝐊𝐞𝐞𝐩 𝐋𝐨𝐬𝐢𝐧𝐠 𝐌𝐨𝐧𝐞𝐲...?

That's an impossible question to answer without knowing exactly what you're doing, and how you're doing it.

🔻𝗕𝘂𝘁 𝘄𝗵𝘆 𝗱𝗼 𝗺𝗼𝘀𝘁 𝗳𝗮𝗶𝗹?

🔑𝗧𝗵𝗲𝘆 𝗱𝗼𝗻'𝘁 𝗵𝗮𝘃𝗲 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘆 𝗽𝘀𝘆𝗰𝗵𝗼𝗹𝗼𝗴𝘆.
This can be developed, but probably not by yourself.

🔑𝗟𝗮𝗰𝗸 𝗼𝗳 𝗮 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗽𝗹𝗮𝗻.
𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗶𝘀 𝗮 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀, treat it like one. You need to set clear goals and expectations, as well as a roadmap to get you there.

🔑𝗟𝗮𝗰𝗸 𝗼𝗳 𝗮 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗽𝗹𝗮𝗻.
You can't just enter trades w***y nilly. Your trading plan, unique to you, sets rules on when you can trade, what types of trades you'll take, maximum risk per trade, maximum risk overall, expected profit, etc.

🔑𝗖𝗼𝗻𝗳𝗶𝗱𝗲𝗻𝗰𝗲.
All the above takes the guesswork out. You'll be confident when you do trade, and that makes all the difference. It feeds back into the psychology aspect.

🔑𝗗𝗶𝘀𝗰𝗶𝗽𝗹𝗶𝗻𝗲.
When you have all that, and a few other bits, you're a disciplined trader. You'll know that not every trade can be a winner, and you'll be okay with that, and so will your growing account balance.

🔑𝗠𝗮𝗻𝘆 𝗳𝗼𝗰𝘂𝘀 𝗼𝗻 𝗳𝗶𝗻𝗱𝗶𝗻𝗴 𝗮 𝘄𝗶𝗻𝗻𝗶𝗻𝗴 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆.
Don't. There is no winning strategy. There are strategies that work under specific market conditions, though. You need to master many strategies and know when and when not to use them. But that's the least of it.

You can find those all over the place. If you don't have the six things I mentioned above, then you won't succeed.

🔴𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐖𝐡𝐲 𝐅𝐨𝐫𝐞𝐱 𝐓𝐫𝐚𝐝𝐞𝐫𝐬 𝐋𝐨𝐬𝐞 𝐌𝐨𝐧𝐞𝐲

🔻𝗕𝗲𝗳𝗿𝗶𝗲𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁

The market is not something you beat, but something you understand and join when a trend is defined. At the same time, the market is something that can shake you out if you are trying to get too much from it with too little capital.

🔻𝗟𝗼𝘄 𝗦𝘁𝗮𝗿𝘁-𝗨𝗽 𝗖𝗮𝗽𝗶𝘁𝗮𝗹

Most currency traders start out looking for a way to get out of debt or to make easy money. It is common for forex marketers to encourage you to trade large lot sizes and trade using high leverage to generate large returns on a small amount of initial capital.

🔻𝗚𝗶𝘃𝗶𝗻𝗴 𝗶𝗻 𝘁𝗼 𝗚𝗿𝗲𝗲𝗱

Some traders feel that they need to squeeze every last pip out of a move in the market. There is money to be made in the forex markets every day. Trying to grab every last pip before a currency pair turns can cause you to hold positions too long and set you up to lose the profitable trade that you are trading.

🔻𝗥𝗲𝗳𝘂𝘀𝗶𝗻𝗴 𝘁𝗼 𝗕𝗲 𝗪𝗿𝗼𝗻𝗴

Some trades just don't work out. It is human nature to want to be right, but sometimes you just aren't. As a trader, you just have to accept that you're wrong sometimes and move on, instead of clinging to the idea of being right and ending up with a zero-balance trading account.

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You don’t need to take trades everyday to become a profitable trader. You should wait for your opportunity to enter the market.

You should ask yourself before taking any trade why are you going to take that trade?? You should have technical or fundamental or both reasons for each and every trades. Don’t take any trade with your assumptions take with your analysis

Always remember this

𝗗𝗼𝗻'𝘁 𝗯𝗲 𝗹𝗶𝗸𝗲 𝘁𝗵𝗶𝘀. 𝗥𝗶𝘀𝗸 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗸𝗲𝘆 𝘁𝗼 𝘀𝘂𝗰𝗰𝗲𝘀𝘀

💆🏻‍♂️Training Your Mind For Markets

Your expectations should be realistic and achievable in the first place. You will not make millions in your first month. Forex is a business, and not a get rich quick scheme. Being a business, take it slow; slowly learn from the mistakes you have made, learn to effectively use your trading platform, brick by brick until you are successful. I have never heard of a successful trader who made it through overtrading and overleveraging.

👉🏻Here are some tips:

🔹Learn to be patient with forex markets

🔹Be a long-term trader

🔹Chose quality and not quantity

🔹Maintain a trading journal

🔹Have a written trading plan

🔹Develop your trading edge before diving into the market

These are so key for your development!

𝐇𝐨𝐰 𝐝𝐨 𝐩𝐫𝐨 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐡𝐚𝐧𝐝𝐥𝐞 𝐞𝐦𝐨𝐭𝐢𝐨𝐧𝐬?

1) 𝗧𝗵𝗲𝘆 𝗱𝗼𝗻'𝘁 𝗮𝗹𝗹𝗼𝘄 𝗴𝗿𝗲𝗲𝗱 𝘁𝗼 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗲 𝘁𝗵𝗲𝗶𝗿 𝘁𝗿𝗮𝗱𝗶𝗻𝗴

An experienced trader will know when to walk away once a certain amount of money is made in the day, week or month. They avoid placing trades; it is better than placing a trade and losing those gains.

2)𝗧𝗵𝗲𝘆 𝗮𝗿𝗲 𝗮𝘄𝗮𝗿𝗲 𝗼𝗳 𝘁𝗵𝗲 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆 𝗶𝗻 𝗙𝗼𝗿𝗲𝘅

Experienced traders are aware of the uncertainties within the Forex market; nothing is guaranteed. It is just a fact in Forex. No matter how good your trading decision is, the market can unexpectedly go against your predictions at any time. If you clearly
understand this while placing a trade, you won’t get a shock when the trade results in a loss.

All you need to do is to be fully prepared to face the loss. There is a saying: Hope for the best but prepare for the worst. You have to be mentally prepared to accept the loss you face. This will certainly reduce the impact of negative emotions.

3) 𝗧𝗵𝗲𝘆 𝗻𝗲𝘃𝗲𝗿 𝗲𝘅𝗽𝗲𝗰𝘁 𝗳𝗮𝘀𝘁 𝗽𝗿𝗼𝗳𝗶𝘁

This is also tied in with greed. New traders are typically coming into forex with the mindset of getting rich overnight. The novices will then likely start placing larger trade sizes, causing much risk to their capital.

Thinking how much they can earn if the trade goes well, they completely forget or ignore another possibility: If the trade doesn’t go as expected, they will lose a huge amount of money. Also, in a few more trades, they end up losing their entire capital. Experienced traders never do this! 𝗧𝗵𝗲𝘆 𝗮𝗹𝘄𝗮𝘆𝘀 𝗳𝗼𝗹𝗹𝗼𝘄 𝗴𝗼𝗼𝗱 𝗿𝗶𝘀𝗸 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁.

❤️Free Signals Daily
👩🏻‍🎓Forex Education
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🔎Join With Our Telegram Channel https://t.me/forex_education_by_Krish