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Tag: Forex Master Levels

How To Become A Millionaire Through Forex Trading?

Make your own Forex Master Levels Strategy. The main objective of this lesson is to help you learn how to develop your own strategy and develop your trading system. Although creating strategies does not take much time, it takes a long time to test them. Lots of points therefore gain more money.

Forex Master Levels
Forex Master Levels

Step (1)

– Setting the time frame: The first thing you need when you start to create your own strategy system is to know:
What is your trade in the sense of whether you are a daily trader or a long-term trader? Do you like to look at diagrams every day, every week, every month, or every year? And how long you can keep your positions open!

All this will help you determine the time frame for you, even if you use more than a time frame do not forget the principle of using a key timeframe in your business helps you determine the main direction, use a smaller timeframe than the main to identify entry and exit points.

Step (2)

– Select the technical indicators that help you to determine the direction: The early identification of the trend is one of the most important goals of successful strategies so we must use indicators that help us, for example Mufeng one of the most popular indicators that help traders to distinguish new trends, they use two types of them one Fast and another slow and wait until the fast interrupts the slow and this is the rule known as the system of strategic muffing intersection.

Simply the muffing process is the quickest way to distinguish trends and is the best way to define the new direction. Of course there are many other ways to distinguish trends but the muffing method is the easiest and most used.

Step (3)

– Determine the degree of risk: When you develop your strategy system, you must determine the risk of your deal, many do not like to talk about the loss but the Secret Profit Matrix successful trader is thinking about the limits of losing before thinking about profits, and for the money that you may lose , They vary from person to person. You have to decide what size of oxygen is in the room you sit in and that you can breathe or you will embrace, and at the same time do not make the danger limit great.

Later on you will learn about how to manage money and reduce risk in our next lesson. Money management plays a big role in determining the risk limit for each individual trade.

Step (4)

– Determining points of entry and exit: After determining the limit of losses and quantity that can risk, the step of determining the point of entry and exit points as orders for trade, and some traders prefer to enter as long as their indicators give them good signals even if the candle has not closed yet or wait to close .

But we see that it is better to wait until the candle is closed and start a new trade with a new candle, because it may enter the middle of the candle and all your indicators give you a good signal and suddenly the market turns your trade and deceives you, it all depends on your trading style Peaceful or neutral.
As you exit, you have many choices:

– The first choice … is to leave the place of stop loss and move, in the sense that if the price moves in favor of you, move the stop loss with you also to be in your favor, move the limit of your loss towards the movement of your profit.

– And the second choice … is to set your goal profit and graduated when you reach this goal. As for how to calculate a goal, this is for you. Some traders choose support and resistance levels as profit targets, and others choose fixed amounts of points as profit targets for each transaction eg 10 pips or 50 profit points. However, set your goals by concentrating and do not go out early whatever happens and stick to your strategy. Which you specified.

The third way out is the “clustering method”. For example, you can set a rule where if your indicators give you a signal for a possible reversal here you exit.

Step (5)

Write your rapid trend gainer review system strategy and follow it strictly: This step is the most important Once you define your strategy, write your rules and follow them and always adhere to their characteristics and applied discipline without ignoring or fear, neglect or greed.