Identifying the Currency Trading Opportunities and Trading Plans
1.
Identifying the Currency Trading Opportunities
2.
Maintain Discipline
3.
Stop-loss Order
4.
Entry And Exit Levels
5.
Currency Pair’s Prices
6.
Position Size
7.
Trade in Strategy
Identifying the Currency Trading Opportunities ď‚— Identifying trading opportunities and planning each trade
from start to finish is essential to success in the currency trading. ď‚— When you trade currency as an investment tool, remember
to:
Maintain Discipline ď‚— Maintain the trading discipline by formulating and sticking to
a complete trading plan: position size, entry and exit before you enter a trade.
Stop-loss Order ď‚— Always trade with the stop-loss order. Decide on the stop
loss before you are in the trade and don’t move it unless it is to protect profits.
Entry And Exit Levels ď‚— Identify trade entry and exit levels in advance through the
technical analysis.
Currency Pair’s Prices Understand how each currency pair’s prices move and what
drives the prices.
Position Size ď‚— Determine the position size based on the trade setup and
your financial risk-management plan.
Trade in Strategy ď‚— Be patient currencies move around a lot. Wait for the market
to allow you to enter your trade-in strategy.
After you have invested your time, energy, and risk capital in
a trade, your work has only just begun. Managing your trade while it is active just as important to a
successful outcome. Stay alert, be flexible, but stick to your trading plan.
Thank You