The following guided secrets are the building block for a consistent profit making. Application of these secrets can never be over-emphasized and should not be taking with levity.
1. Do not over-expose your account maintain an account exposure of between 10% and 30%.
2. Always trust God to find and join the trend early. Also learn to test the strength of the tend using ADX (Average directional movement Index)
3. Understand your best entry and exit points using pivot points and/or Fibonacci Retracements
4. Understand the key Japanese candle stick reversal patterns.
5. Know when the market is flat or when the trend is weak and trade accordingly or stay away
6. Only use take profits according to predetermined market potential
7. Buy only in Oversold markets: An oversold market is one in which there no more securities to sell are or a great majority of the sellers (Bears) have left the market. Some technical indicators can help in determining this, e.g, Stochastic Oscillators, RSI etc
8. Sell only in Overbought markets: An overbought market is one in which there no more securities to buy are or a great majority of the buyers (Bulls) have left the market. The same technical indicators can help in determining this.
9. Never entertain fear even when the market moves against you, if you have a good trading system it will surely come back in your favor
10. Never be greedy show contentment in all your trades and this demon will be far from you
11. Do not over trade; learn to draw a line between overtrading and fear.
12. Always pray before making any trading decision: There is always a guiding light from God if only you trust in HIM
13. Rely on the Holy Spirit for guidance: He is very dependable and will never leave nor forsake you, if you surrender the battle to Him.
To your online Forex trading success - D Cybertycoon
STEVENS ADEOLA SALAMI
I recommend that you use the #1 Forex broker - AvaTrade.
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