5 life hacks how to increase the success of your trading strategy



Forex trading is a job. The work is difficult, painstaking, requiring self-organization, analytical skills and iron nerves. Before getting into a stable plus, every newly minted Forex trader will have to study a lot of information, deduce a comfortable trading strategy, and develop tricks to increase profitability.

Forex life hacks that increase the trader’s profitability

Below are the most effective life hacks for Forex traders, which can significantly increase the profit on transactions.

Life hack number 1 – we take a titmouse and catch a crane

A competent market entry point is only part of the success. It is important to correctly accompany open orders, not cutting off profits out of the blue, but also preventing the probability of losing 100% of potential profit. And such an effective technique as dividing one position into parts will help in this. That is, the market participant partially closes the position.

It is convenient to do this in three steps:

  • Fast profit. You can fix a part of the profit literally at the very beginning of the movement (especially before important economic data). Roughly speaking, we take that very coveted “tit”;
  • Slow profit. This part of the position can be held either until the intended target, or until the formation of a reversal pattern of technical analysis, which by its appearance hints at the possibility of a rollback or a complete change in the trend.
  • Main profit. We hold up to the level of the Take Profit order set by the Forex or we accompany the transaction with a wide Tralling Stop. But in this situation, the experience of a forex trader plays an important role.

Forex Lifehack No. 2 – the light did not converge on the stop loss

What is one of the first rules of trading in the financial markets that is hammered into newbies? That’s right, limiting losses, that is, placing a StopLoss order. But few people say that the classic rule of placing an order to close a trade is a real trap for the crowd. Why? Everything is simple here. Newbie traders for the most part set stops just above or just below the local peaks of the candlesticks of the instrument’s chart, that is, beyond the resistance or support levels. Market makers are well aware of this and benefit from it.

Very often in the foreign exchange market, there is a situation when, before the main movement, the price sharply “runs” in the opposite direction, exactly into the accumulation of stop-losses of the crowd. In trading circles, this phenomenon is called – hunting for stops. Therefore, consider this factor, if you are afraid to abandon the limitation of losses by the standard method, use alternative methods to limit the loss of the deposit.

Methods for optimizing the risk of loss on Forex:

– locking of a negative order;
– reversal of the deal, opening a new order in the opposite direction of the forecast;
– the method of averaging a losing position in the market.

You can find a lot of information about these tactics, so it’s not worth dwelling on each in detail. The methods have one thing in common – these are multi-move combinations, the skillful use of which will allow you to exit an unsuccessful deal with a profit, and not with a loss.

Life hack # 3 – a robot trades, but a trader thinks

It is no secret that among scalpers (trading on small time frames), trading robots – advisors are popular. In this area, the myth of the complete automation of trading has taken root, that is, you turn on the robot and watch how the trading deposit increases. But do not forget that an Expert Advisor is a program that works according to a given algorithm. But the trader will have to think about this program personally.

And here I would like to tell you about the main rules of EA trading:

Rule 1. The fast market is the enemy of the scalper and his robot. Disable the Expert Advisor before important news, as its algorithm simply does not include a reaction to fundamental factors and powerful candlestick impulses.

Rule 2. Choose your forex broker carefully. For scalping trading, concepts such as the size of the spread and the speed of order execution are very important. Some “kitchens” generally sin by not counting profits from short-term transactions (1-3 minutes). As a broker favorable to trading scalping robots, we recommend AMarkets, which is maximally loyal to this category of its clients. The broker’s order execution speed is from 0.03 seconds, and spreads start from 0.2 pips.

Rule 3. More tests means fewer leaks. Do not be lazy to test the work of the advisor on history. So you can understand the algorithm of its work and, if necessary, adjust the settings.

“Lifehack” number 4 – we read, think, analyze

As a rule, novice traders who come to Forex enthusiastically install indicators in the terminal and try to enter the market based on their signals. But this is fundamentally wrong approach. You must have information first. Therefore, make it a rule to skim through the fundamental and technical forecast from experts every morning. After all, this is logical: to be aware of those events that can affect the movement of the currency pair chart.

Where to find such analytical materials? For example, the website of the above-mentioned broker AMarkets regularly publishes high-quality analytics from experts and forecasts of the movement of the main currency pairs.

“Lifehack” No. 5 – compactness is above all

Well, the last forex life hack, no less important, concerns, directly, the settings in the trading terminal itself. It is hard to believe, but even experienced traders are still not aware that different indicators can be “superimposed” on each other. What does it do? First, the ease of analysis. Secondly, trading comfort is significantly increased. Sometimes indicator fields take up so much space that the price chart itself is not visible.

We will not argue that such a convenient function is available in every trading platform, therefore, for example, let us take the MetaТrader 4 terminal. How to do it? Open the “View” menu, select “Navigator”. A list of installed indicators appears. Next, hold down the left mouse button on the required Forex indicator and drag it to the previously opened window. In the line “apply to” look for “Previous Indicators Data”. For example, we took the Momentum indicators and the well-known moving average, you can do this trick with any technical analysis tools.

We hope that Forex life hacks will help every trader to consistently receive profit and reduce trading risks!

We are in social networks

See also:

” data-translation=”

Forex trading is a job. The work is difficult, painstaking, requiring self-organization, analytical skills and iron nerves. Before getting into a stable plus, every newly minted Forex trader will have to study a lot of information, deduce a comfortable trading strategy, and develop tricks to increase profitability.

Forex life hacks that increase the trader’s profitability

Below are the most effective life hacks for Forex traders, which can significantly increase the profit on transactions.

Life hack number 1 – we take a titmouse and catch a crane

A competent market entry point is only part of the success. It is important to correctly accompany open orders, not cutting off profits out of the blue, but also preventing the probability of losing 100% of potential profit. And such an effective technique as dividing one position into parts will help in this. That is, the market participant partially closes the position.

It is convenient to do this in three steps:

  • Fast profit. You can fix a part of the profit literally at the very beginning of the movement (especially before important economic data). Roughly speaking, we take that very coveted “tit”;
  • Slow profit. This part of the position can be held either until the intended target, or until the formation of a reversal pattern of technical analysis, which by its appearance hints at the possibility of a rollback or a complete change in the trend.
  • Main profit. We hold up to the level of the Take Profit order set by the Forex or we accompany the transaction with a wide Tralling Stop. But in this situation, the experience of a forex trader plays an important role.

Forex Lifehack No. 2 – the light did not converge on the stop loss

What is one of the first rules of trading in the financial markets that is hammered into newbies? That’s right, limiting losses, that is, placing a StopLoss order. But few people say that the classic rule of placing an order to close a trade is a real trap for the crowd. Why? Everything is simple here. Newbie traders for the most part set stops just above or just below the local peaks of the candlesticks of the instrument’s chart, that is, beyond the resistance or support levels. Market makers are well aware of this and benefit from it.

Very often in the foreign exchange market, there is a situation when, before the main movement, the price sharply “runs” in the opposite direction, exactly into the accumulation of stop-losses of the crowd. In trading circles, this phenomenon is called – hunting for stops. Therefore, consider this factor, if you are afraid to abandon the limitation of losses by the standard method, use alternative methods to limit the loss of the deposit.

Methods for optimizing the risk of loss on Forex:

– locking of a negative order;
– reversal of the deal, opening a new order in the opposite direction of the forecast;
– the method of averaging a losing position in the market.

You can find a lot of information about these tactics, so it’s not worth dwelling on each in detail. The methods have one thing in common – these are multi-move combinations, the skillful use of which will allow you to exit an unsuccessful deal with a profit, and not with a loss.

Life hack # 3 – a robot trades, but a trader thinks

It is no secret that among scalpers (trading on small time frames), trading robots – advisors are popular. In this area, the myth of the complete automation of trading has taken root, that is, you turn on the robot and watch how the trading deposit increases. But do not forget that an Expert Advisor is a program that works according to a given algorithm. But the trader will have to think about this program personally.

And here I would like to tell you about the main rules of EA trading:

Rule 1. The fast market is the enemy of the scalper and his robot. Disable the Expert Advisor before important news, as its algorithm simply does not include a reaction to fundamental factors and powerful candlestick impulses.

Rule 2. Choose your forex broker carefully. For scalping trading, concepts such as the size of the spread and the speed of order execution are very important. Some “kitchens” generally sin by not counting profits from short-term transactions (1-3 minutes). As a broker favorable to trading scalping robots, we recommend AMarkets, which is maximally loyal to this category of its clients. The broker’s order execution speed is from 0.03 seconds, and spreads start from 0.2 pips.

Rule 3. More tests means fewer leaks. Do not be lazy to test the work of the advisor on history. So you can understand the algorithm of its work and, if necessary, adjust the settings.

“Lifehack” number 4 – we read, think, analyze

As a rule, novice traders who come to Forex enthusiastically install indicators in the terminal and try to enter the market based on their signals. But this is fundamentally wrong approach. You must have information first. Therefore, make it a rule to skim through the fundamental and technical forecast from experts every morning. After all, this is logical: to be aware of those events that can affect the movement of the currency pair chart.

Where to find such analytical materials? For example, the website of the above-mentioned broker AMarkets regularly publishes high-quality analytics from experts and forecasts of the movement of the main currency pairs.

“Lifehack” No. 5 – compactness is above all

Well, the last forex life hack, no less important, concerns, directly, the settings in the trading terminal itself. It is hard to believe, but even experienced traders are still not aware that different indicators can be “superimposed” on each other. What does it do? First, the ease of analysis. Secondly, trading comfort is significantly increased. Sometimes indicator fields take up so much space that the price chart itself is not visible.

We will not argue that such a convenient function is available in every trading platform, therefore, for example, let us take the MetaТrader 4 terminal. How to do it? Open the “View” menu, select “Navigator”. A list of installed indicators appears. Next, hold down the left mouse button on the required Forex indicator and drag it to the previously opened window. In the line “apply to” look for “Previous Indicators Data”. For example, we took the Momentum indicators and the well-known moving average, you can do this trick with any technical analysis tools.

We hope that Forex life hacks will help every trader to consistently receive profit and reduce trading risks!

We are in social networks

See also:

” data-type=”trSpan”>

Forex trading is a job. The work is difficult, painstaking, requiring self-organization, analytical skills and iron nerves. Before getting into a stable plus, every newly minted Forex trader will have to study a lot of information, deduce a comfortable trading strategy, and develop tricks to increase profitability.

Forex life hacks that increase the trader’s profitability

Below are the most effective life hacks for Forex traders, which can significantly increase the profit on transactions.

Life hack number 1 – we take a titmouse and catch a crane

A competent market entry point is only part of the success. It is important to correctly accompany open orders, not cutting off profits out of the blue, but also preventing the probability of losing 100% of potential profit. And such an effective technique as dividing one position into parts will help in this. That is, the market participant partially closes the position.

It is convenient to do this in three steps:

  • Fast profit. You can fix a part of the profit literally at the very beginning of the movement (especially before important economic data). Roughly speaking, we take that very coveted “tit”;
  • Slow profit. This part of the position can be held either until the intended target, or until the formation of a reversal pattern of technical analysis, which by its appearance hints at the possibility of a rollback or a complete change in the trend.
  • Main profit. We hold up to the level of the Take Profit order set by the Forex or we accompany the transaction with a wide Tralling Stop. But in this situation, the experience of a forex trader plays an important role.

Forex Lifehack No. 2 – the light did not converge on the stop loss

What is one of the first rules of trading in the financial markets that is hammered into newbies? That’s right, limiting losses, that is, placing a StopLoss order. But few people say that the classic rule of placing an order to close a trade is a real trap for the crowd. Why? Everything is simple here. Newbie traders for the most part set stops just above or just below the local peaks of the candlesticks of the instrument’s chart, that is, beyond the resistance or support levels. Market makers are well aware of this and benefit from it.

Very often in the foreign exchange market, there is a situation when, before the main movement, the price sharply “runs” in the opposite direction, exactly into the accumulation of stop-losses of the crowd. In trading circles, this phenomenon is called – hunting for stops. Therefore, consider this factor, if you are afraid to abandon the limitation of losses by the standard method, use alternative methods to limit the loss of the deposit.

Methods for optimizing the risk of loss on Forex:

– locking of a negative order;
– reversal of the deal, opening a new order in the opposite direction of the forecast;
– the method of averaging a losing position in the market.

You can find a lot of information about these tactics, so it’s not worth dwelling on each in detail. The methods have one thing in common – these are multi-move combinations, the skillful use of which will allow you to exit an unsuccessful deal with a profit, and not with a loss.

Life hack # 3 – a robot trades, but a trader thinks

It is no secret that among scalpers (trading on small time frames), trading robots – advisors are popular. In this area, the myth of the complete automation of trading has taken root, that is, you turn on the robot and watch how the trading deposit increases. But do not forget that an Expert Advisor is a program that works according to a given algorithm. But the trader will have to think about this program personally.

And here I would like to tell you about the main rules of EA trading:

Rule 1. The fast market is the enemy of the scalper and his robot. Disable the Expert Advisor before important news, as its algorithm simply does not include a reaction to fundamental factors and powerful candlestick impulses.

Rule 2. Choose your forex broker carefully. For scalping trading, concepts such as the size of the spread and the speed of order execution are very important. Some “kitchens” generally sin by not counting profits from short-term transactions (1-3 minutes). As a broker favorable to trading scalping robots, we recommend AMarkets, which is maximally loyal to this category of its clients. The broker’s order execution speed is from 0.03 seconds, and spreads start from 0.2 pips.

Rule 3. More tests means fewer leaks. Do not be lazy to test the work of the advisor on history. So you can understand the algorithm of its work and, if necessary, adjust the settings.

“Lifehack” number 4 – we read, think, analyze

As a rule, novice traders who come to Forex enthusiastically install indicators in the terminal and try to enter the market based on their signals. But this is fundamentally wrong approach. You must have information first. Therefore, make it a rule to skim through the fundamental and technical forecast from experts every morning. After all, this is logical: to be aware of those events that can affect the movement of the currency pair chart.

Where to find such analytical materials? For example, the website of the above-mentioned broker AMarkets regularly publishes high-quality analytics from experts and forecasts of the movement of the main currency pairs.

“Lifehack” No. 5 – compactness is above all

Well, the last forex life hack, no less important, concerns, directly, the settings in the trading terminal itself. It is hard to believe, but even experienced traders are still not aware that different indicators can be “superimposed” on each other. What does it do? First, the ease of analysis. Secondly, trading comfort is significantly increased. Sometimes indicator fields take up so much space that the price chart itself is not visible.

We will not argue that such a convenient function is available in every trading platform, therefore, for example, let us take the MetaТrader 4 terminal. How to do it? Open the “View” menu, select “Navigator”. A list of installed indicators appears. Next, hold down the left mouse button on the required Forex indicator and drag it to the previously opened window. In the line “apply to” look for “Previous Indicators Data”. For example, we took the Momentum indicators and the well-known moving average, you can do this trick with any technical analysis tools.

We hope that Forex life hacks will help every trader to consistently receive profit and reduce trading risks!

We are in social networks

See also:




Ссылка на источник

Give a Comment