Scalping or short-term trading is a trading strategy that the trader will trade small profit but in high frequency, maybe 10-100 or more times daily. It is based on the notion that a currency is very fluctuate, so it would be better to take small profit from small movement than to take large profit.

Author Topic: The non-random way to trade How to create and implement your strategy  (Read 2610 times)

Newswire

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The non-random way to trade How to create and implement your strategy

For watching this video you should have at least one trading account. If you are not. Get a trading account for free here!

In this series of forex webinar video we will guide you though the process of identifying your supposed trading niche, asking right questions and exploring your personal strength. Every trader recognizes the need for a strategy to be able to consistently capture profit from the market. Too many traders reduce their strategy to rules of entry, exit and position management. And, what is worse, they just take somebody’s strategy and try to blindly apply it in their own trading. Yet, it may be useful for learning purposes, it alone can’t help you produce stable profit. All successful traders have designed their own strategy suiting their character, risk tolerance and personal strengths.

Trading strategy can be either mechanical or discretionary or both. Do you need to be 100% mechanical trader, or do you need to have more flexibility in decision making process? Regardless of the type of your preferred trading strategy (mechanical or discretionary), you will have to identify your trading niche. Drifting between trading styles will affect negatively on your performance, at least before you obtain enough experience. So, you will have to stick to one trading style at a time.

What type of trader do you intend to be? Do you want to be a position trader, or short-term momentum trader, or maybe you want to be counter-trend scalper? Every trading niche has its advantages and drawbacks, as well as specific parameters of a “norm” (proft factor, proft/loss ratio per trade etc.)




Goloana

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Thank you



Pickle

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To assuage trade, the bank created the nostro (from Italian, this translates to "ours") account stamp album which contained two columned entries showing amounts of foreign and local currencies; instruction pertaining to the keeping of an account following a foreign bank.



svon

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That is great.



bx

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nice



 

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