Many of the senior players in the forex trading business has the same experience on the early style of this field. Often they have to sit diligently in front of monitors and glare at the chart for hours. Sometimes also do open the closed position a day with bercangkir-cangkir coffee beside them. If you are a beginner or a senior but still do the same thing with experience at the top, could it be that you are interested in a way the others? My point here is, way more efficient in terms of time but still be able to earn high profits. If you are interested, I will show you my experience.
time for forex trading
1. Select the time frame and the number of pairs
Use only the timeframe D1. Why is it so? Because if you trade with timeframe such M5 then you'll more often see the graphs to monitor the price movement. Use H1 time frame as the smallest timeframe, that only you will use to only certain situations. The next election is the use or the amount of the currency pair that you would trade every day. Do it slowly. There is a time you can use the whole currency pair trading application available on the platform. As a first step please select major currencies that tend to be most frequently traded.
2. Do a quick analysis
Using the D1 time frame, you will know the price movement in a relatively quick and more confident towards the opportunities that arise. With time frame D1 as well, the chance to be in front of a monitor will more rarely do. It will also reduce the desire of your entry in a trading conditions that you think is perfect to enter when in fact it is not. Maybe at first, immerse yourself in this activity still will feel complicated. But believe me with time this will be easy.
3. Take advantage of smartphones
Since the development of technology based mobile trading, so the easier it is to run whenever and wherever, as long as there is a network of the internet. Trading application can be easily downloaded from your smart phone. Although facilities in such applications is not as complete as the original version, but the main functions such as open, close, and setting the position is still available to have the basic needs in the trade.
4. use the automatic notification
In general applications that we use to be used for trading so the Assistant serving as a reminder of a condition that we have previously specified. It will obviously contribute to the efficiency of the time that we apply in our system. One example of a facility that can be used is the menu Tools-Options-Notification. If you do a Pending Order, the system will immediately bring up notifications on Smartphones when the order is executed. Easy isn't it?
5. Assign time
The market is indeed open for 24 hours a day and 5 days a week. However, if you are going to continually monitor its movement? Come on ... There is still much to do in this life rather than just trading. I encourage you to provide a special time for a few moments in a day for the business (if you consider this a business), because however still there must be seriousness in trading. Without a good time management, the ability and your account will not be developed.
Each trader has its own, so was your moment to conduct market analysis, decide to go or not, the correction of existing position, and close the transaction clearly is not the same between me with you. Specify the exact time to adjust the routines of trading with your lifestyle.
Conclusion
The main attraction in trading, particularly forex, is the opportunity to earn big with the freedom of time to run it and ease in carrying out the process. However, the condition can turn into a nightmare if you are not able to regulate the allocation of time well. Every time there is an opportunity of opening the market, take a little chance it and head back to your other activities. You're trading for a living, do not complete until you are swallowed up by the movement of the market. Happy trading and enjoy the results.
