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4 must to do things traders should follow while trading

Trading can be seen as a sea of opportunity waiting to be explored. Nevertheless, traders who are not adequately ready to board on this adventure may find sinking instead of swimming. Just as the ship captain needs a map to navigate their ship’s path, traders need some strategies

and plan to lead them through their trades. We as a human don’t have any idea what is next? We don’t know whether there is any life going to exist or not? But, the human being has the capability to face the improbability of the future with curiosity and positivity. There is hope, the hope of living, hope of having a happy life and we make plans for our future and work on that to have one.
Similarly, traders cannot predict their next trade but still, the next step should be planned and strategized. The experienced traders already know that having a trading plan is essential for long term success.
What about you? Are you not aware of what is a trading plan entails? Let’s have look at some key points which are included in a trading plan to get started;


Goals
Take a moment to analyze your both short term and long-term goals before starting your trading day. Ask yourself which one you are about to achieve, and which one may need a bit of change. Are your profits realistic? Have you evaluated risk or reward ratios?
A trader’s success depends upon his goals, so it’s essential to reserve some time to think about your trades carefully.


Instruments to trade
Trading instruments generally refer to the different types of markets you can trade. Sometimes, it is called securities, they vary from commodity futures to stocks and CFDs, to currencies and metals and many more. So, choose the instrument you want to trade after studying the market.


Trading times
Time can be critical depending upon the instrument you intend to trade. For example, forex traders might want to isolate the times when the market is most active. When the market is highly active it usually translates into volatility, which increases upside potential.
Trading generally also depends upon mood. If you feel refreshed and energized in the morning it could the best session, if not, you can try the afternoon or evening sessions.


Entry/Exit rules
This is the place where your trading strategies and plans come into play. Make sure the strategy that you want to employ is compatible with the instrument you have chosen to trade. Plan the entry signals you will look for, and form potential exits. It may be brilliant to use the two exit rules: the first should be your stop loss (LS), and second should be your take profit (TP). The creation of these signals prevents you from being a victim to the emotional trading.

Can You Really Become a Millionaire from Forex Trading?

I simply have 2 answers for this question

  1. Yes, you can
  2. No, you can not

Forex trading depends upon some of the special conditions alike all other business. Making money is really not easy, you simply have to go through some rules and conditions that you can apply to you and some strategies that work well.
It depends on how significantly you can apply your rules on yourself and work on that. If Someone has the proper condition, he can become rich and wealthy through Forex Trading. When he doesn’t have proper rules, conditions, and strategies he will do nothing but waste his time and money.
So, what are those conditions?
If you are in those who want to make millions with $5000 or even at $50000, then I have to tell you that you will have to experience a difficult journey.
But, as you know that even the word “impossible” has hidden ‘I am possible”!
So, everything is possible in the world.
Now, let’s talk about the conditions that occur during the journey.
Forex needs an extraordinary level of controlling your emotions, you have to be patient, relaxed as it can’t be done overnight, or even in one year. It’s not the game of short time.
You will face challenges in finding the right provider or broker for your profitable trading that doesn’t cheat you.
Wrong brokers will never let you grow in Forex Trading and make you consistent profit as in most of the cases your profit is their loss.
It is not a “get rich quick” deal.

Forex Trading is not an easy way of making money. It’s not a ‘become rich over the night’ scheme. You need discipline, passion, and sleepless nights to become a millionaire.
To make consistent profit in Forex trading, you have to go through some important stages.
It’s not a way that can make you a millionaire. It’s you, who has to follow the rules and conditions to be a millionaire.
To know how to Make consistent profit in forex or get a consistent profitable trades or become rich first you need a source of income that supports your currency investment. It means you should have an income that covers your expenses.
There are plenty of investment advisory companies in the market. Get proper education on, learning courses from them, keep on pra

Why should I trade in Forex? 

The Forex Market is getting popular day by day but the question is, why? What makes people attract to Forex?

Let’s look at the few suggestions to answer that question:

Size: Let’s begin with the most understandable thing. The size of the Forex Market is unparalleled and exceptional by any other market. The daily trade estimated to be 2 trillion to 5 trillion daily in the Forex Market. This is what attracts most to the Forex Traders.

Accessibility: The Forex market is open 24*7, 5 days a week. The traders don’t have to wait for the Forex market to open. People can trade on currencies from anywhere, anytime. This is the most beneficial thing about Forex trading that trader can access their account online from any device from anywhere on the globe.

Leverage: This is something tricky. The Forex market has an exceptional feature in terms of what it provides to simple traders. You don’t need a huge account to make a huge profit you can trade with a tiny account as well. There are lots of brokers in the market who offer 100:1 leverage on your investment. And this is what makes it huge downside of the Forex market

Volatility: The Forex market is unstable and rarely stands still. It makes large movements and keeps moving always. A trader can make a huge profit in the forex market if the trading is done strategically.

Profitability: No matter to which direction the market is going you can always make a profit. In Forex, a lot of money can be made even if the currency is going down, all markets don’t have this feature. Forex is a two-way market, you have to work with pairs, so if one currency is decreasing, it is obvious that another is increasing. In the Forex Market, there is always a possibility to make a profit whether the currency is going up or going down.

Transparency: The transparency is always a benefit in Forex market when considering an investment. Have you ever faced with the danger of being surprised by this event or another that will have an effect on the market and it’s movements? In the Forex market what you can see is what you can profit. Evaluate the news, understand the charts, they don’t have a surprise. If you understand the thing that you are doing you can predict the direction of the market with relatively high percentage accuracy.

Some brilliant tips for the Forex Trading beginners

It’s necessary to review proven trading process and techniques constantly if you want to make profits in Forex trading on a regular basis.
Learn to limit your losses.
The technique of successful trading is not only dependent on making profit but also on avoiding losses. Your main objective should be the necessity to control drawbacks and avoid losing trades from considerably grind downing capital in any type of trading.
To decrease losses, most of the traders choose to use a significant plan with pre-arranged exits. Stop-loss orders can be used to control making stupid decisions while in a trade.
Furthermore, losses should not only be limited but all the situations must be evaluated consistently to assure that your total trading capital risk is minimum.
Know your limits before you open any position!
Never trade out of your budget, trade-in a limit that you can bear your losses and always maintain plenty of cash reserves. While evaluating the position, size and cash necessities, assure that funds for ongoing trades are not blended with capital for other purposes.
At the beginning of each month, it is important to set loss limits. The process should be stopped for that period when your loss limits are reached. Without a doubt, you should stop trading when your losses are higher than your gains. Stay back and take a short leave.
Start with a fresh and emotional controlled mind, judge your current trading tactics and evaluate your most recent trades to gain knowledge from your failures and go ahead.
Create your strategy and utilize it wisely.
It’s not easy to make good profits without knowing the fundamental and technical analysis. The best trades are those who can predict the deficiencies of their particular trade.
One thing, most importantly, just don’t use complex or advanced method because they are simply complex to understand and apply and you want to feel like a pro.
Avoid and abort your strategy straightly if it’s not suitable for your financial situation no matter how attractive it appears to be. Every strategy has a risk, isn’t it?
Learn to have patience
Trading needs analysis and judgment in advance. You must understand the initial trading, perfect timing, and knowledge of market trend.
Be attentive and stick to your plan!
Success will touch your feet when you create a constructive balance of hard work, sound judgment, and patience. Don’t give up just because you lost some of your trades. Learn and observe various required methods for profitable trading.

Is forex trading profitable for a part-time gig?

Yes, definitely even an irregular Forex Trading can be a great and successful way to enhance your source of income.
There’s a saying that, where there’s a will there’s a way. It means if you can steal some quality time from your day to trade in this possibly profitable market, you can definitely make some potential profit to supplement your source of income even if you are holding a full-time job. Use a strategy that works well and for long.
Finding the Right Pairs to Trade

I agree that the forex trading arises 24 hours a day throughout the week, it’s great to trade during the mountain volume hours to specify liquidity. Liquidity is a trader’s aptitude to sell a position, which is much easier when the market is most active.
Let’s assume that you are a full-time job holder and you cannot be available for the trading all the time. You can only be available either in day or late in the day. So, it can be of great benefit to you.
For the traders who are beginners lacking experience and have small accounts, they should trade with US currency against lots of various foreign currencies. The wisest decision for the people who are job holder should be to trade Forex as a secondary option.
Let’s see the most tradable currencies
• USD/EUR
• USD/JPY
• USD/GBP
• USD/CHF
• USD/CAD
• USD/AUD
For the people who are Trading Forex as a secondary option but have great experience, the following currency pairs also offer high liquidity.
• EUR/GPB
• EUR/JPY
• EUR/CHF
The trading experts advice trading only the USD/EUR pair for the people who have a small account and not trading as a full-time trader. USD/EUR pair is traded repeatedly as plenty of information available on these currencies across all forms of media.

  1. Apply Disciplined Decision-Making

Trading discipline is most important to get success who refuse to automated systems and apply their own decisions.
Amateur traders are advised to have a try and make profit instead of hoping to get profit.
Unprofessional traders who have a few and no experience are advised to start trading with small amount.
Great strategy, dispassion, discipline and trading the suitable currency pairs based on your daily availability are the property of a successful trader.
The automated trading program is suggested for the beginners who have lack of knowledge about Forex Trading.
Well there’s no guarantee that you will always make profit due to the unstable nature profitable market. So, it is advised to learn, be knowledgeable, disciplined and control on your emotions.

How does Forex Trading Works?

Foreign exchange is No doubt the biggest financial market in the world with a daily turnover of $5 trillion, this industry keep growing everyday ever since it exists Foreign exchange or simply Forex is the trading of currency pairs.

Foreign exchange is No doubt the biggest financial market in the world with a daily turnover of $5 trillion, this industry keep growing everyday ever since it exists Foreign exchange or simply Forex is the trading of currency pairs. 
Over the period of time Forex trading has been a popular choice of traders and investors who seeks to make profits in this market by buying or selling a particular asset in less time. Since Forex trading is highly rewarding due to its high volume, volatility and leverage, traders often look to create great profits even with small price fluctuations. So how does this works? 
Well, In order to make profits in Forex, a trader needs to know the basics of fundamental analysis as well as technical analysis. When put together, traders come up with strategies that are highly rewarding.


There are hundreds of brokers out there who offer trading in the currency market and mainly, Day trading in the Forex Market has been a choice for many traders. 
Unlike the traditional stock market, the Forex market is open 24 hours a day and 5 days a week and nowadays it is mostly traded online. Hence, one can simply trade sitting at the comfort anywhere, with just a computer/laptop/phone and a stable internet connection. 
There are various types of trading methods that can be applied in Forex such as 
Day trading, Swing trading, Scalping and long term investment. 
Day trading is where you open your position with an aim to close it on the same day. However, there is no obligation to keep your position open as long as you desire. 
Swing traders are tend to trade in the direction of the trend and often enter their positions when a swing in the trend is confirmed. 
Scalpers on the other hand have a tendency to take multiple trades of small profits. Every trader in the world at some point has tried each of these methods and settled with the one that suits them the best. 
Trading in the financial markets involves high risk and one must take proper education before trading with some real cash. In terms of education, there are institutions, agencies, online websites, video tutorials and forums that provide huge amount of knowledge about Forex trading and most of this can be accessed for free. 
So if you are excited about trying out the Forex market, make sure you get a proper knowledge and understanding of it and then definitely you can take a step into this industry. Always remember, Forex trading is no gambling. Hence, this has to be treated as a serious business. 
Proper knowledge, guidance, and experience will definitely make you a successful Forex trader. 
Conclusion: 
Based on our years of experience, Trades Factory consistently scrutinize the market. We are passionate about serving our clients sensibly with the latest innovations in Forex tools and resources to train you in trading.

Some rules for Successful Trading

Forex trading is thrilling, accessible, instructive, and it offers immense opportunities to make money. Forex trading is similar to any other business in the world that involves risk, expenses, profit and management. Over 90% of traders loose in the market despite of the huge volatility and volume.
Self-learning can be harmful for you if you are doing it without any limits. So, you must have a guide on how to get success in Forex trading.
In the journey, to be a profitable Forex trader, you have to be target oriented and disciplined.

Forex trading is thrilling, accessible, instructive, and it offers immense opportunities to make money. Forex trading is similar to any other business in the world that involves risk, expenses, profit and management. Over 90% of traders loose in the market despite of the huge volatility and volume. 
Self-learning can be harmful for you if you are doing it without any limits. So, you must have a guide on how to get success in Forex trading. 
In the journey, to be a profitable Forex trader, you have to be target oriented and disciplined. When it comes to forex trading, the first thing that you need to do is understand the Forex trading and Forex market.

You have to be realistic if you want to achieve your goals related to your returns in forex. 
In order to be a successful trader there should be certain points that you should follow religiously. Set a goal on yourself, it could be something like 35% annual return on investment, earn 500 USD of profit, get a total of 100 pips per week. The important thing is setting a goal which is realistic and work upon those pointers to achieve consistent returns. 
Let’s have a look at some quick tips and tricks: 
1. Discipline and planned analysis before Trading 
It includes everything from when to enter and when to exit,how much you are going to risk, and how much profit you are going to keep with you. You should analyze your trading style and calculate your risk as per your investment that will help you to be a achiever. These rules will guide you to trade right way. 
2. Create different situations in your mind 
Creating all the different situations, winning and losing in your mind and the technique that you are going to use it after these situations, will make you become natural and habitual to Forex Trading. 
3. Analyze your trading 
Analyzing your trading at the end of each day will help you in grading yourself in trading. This way you will be able to point out your weakness. By analyzing yourself you will be able to see yourself whether you are working according to your rules or just lying to yourself. 
Treat your trading as your business, because you will have to face expenses, risks, stress and emotional trauma at a time. Keep this in your mind that a good trading needs to be in habits. One winning result doesn’t make you a professional and perfect trader. Hence practice it wisely. Always practice your strategies on a demo account before you are ready to risk your hard earned money. This will help you improve your trading without losing any money. Once you have a strategy and knowledge in place, you are good to get started with your real money and real profits. Keep in mind that financial markets are unpredictable and you need to have a way to keep the odds in your favor if you want to get success in your trading journey. The most successful traders are the most disciplined one. 
Trades Factory has a verified record of financial strength and consistency with innovative resources and leading this financial industry forward. Assuring you to earn your trust and dependability by delivering an outstanding trading experience with greater execution and steady cost. 

Happy Trading!

Signs that your Forex trading strategy is not going right

If you are in the Forex trading industry for a long time, then you must have come across lots of offers from Forex-related companies or the posts & suggestions from the social media sites and Google. Various Advertisements who claim themselves as guaranteed money-makers.


People like us get quite convinced by the service provider who claim to make $200/day or 4000 pips/month and want to know the strategy involved so that can use the same, right? Many of us may take a bite and buy what they are providing while other people jumble up to develop the closest thing they can.


Creating your time outlines, indicators, your own open and close restrictions, and risk management strategies accelerate the possibilities of the system correcting your trading personality and you follow the system’s rules.


Whether you buy your strategies from the financial companies or create it by your own. You should know that it takes time, patience, emotional control and discipline to achieve the target. Examining the profitability of your Forex Trading strategies means sticking to them for long enough to estimate its strengths and weaknesses.


But once you realize that the system you’ve bought or created isn’t working for you, what you do? How you put the line between the wrong trading day and a fruitless system, it’s hard to distinguish isn’t it?


Here are some situations when it’s better to let it go:

You cannot continuously follow your own Forex Trading rules.
At times, you can make or break your trading system with just your one or two trades. The important thing is that you cannot evaluate the effectiveness of a trading strategy if you do not use it constantly. If you think your system is too explicit, formless, or difficult for you, then create the necessary tweaks or conduit it all together.
Your trading system requires more hard work than it needs
Do you need to be attentive all the time for your strategy to be profitable? Do you need to check on lots of indicators before you confirm a signal?
If you are not happy with your trading system for a long time or if you think that you would make more or less the exact number of pips than you haven’t used it, then it’s time to look at other options.
It takes time, hard work, sleepless nights, discipline, effort, emotional control and maybe a few quantities of luck as well before you find a profitable one that also fits your Forex Trading personality. You can’t be lazy or fearful to ditch an unproductive system for a new one.
We here, at Trades Factory believe in creating Forex Trading strategies through experience and knowledge.