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Business 319 views Feb 14, 2017
How to trade the key support and resistance level in the market

Forex trading is all about probability, no one can assure you that you will make a profit by trading the financial instrument in the world. It is you who will make a profit by trading the different assets in the market. If you are relatively new in forex trading than its very obvious that you will face an extreme level of difficulty while trading the financial asset in the market. Those who are trading the financial instrument for a long period of time knows very precisely how hard it is to trade the live assets in the market. But if you have a strong determination then you can easily trade the live assets in the market and make a decent profit out of trading the financial instrument. Most of the novice traders in the financial market fail to make money since they don’t know how to trade the key support and resistance level in the market. If you are relatively new in forex trading then you must master the art of trading the key support and resistance level in the market.

Higher time frame trading: In order to find the key support and resistance level in the market you must use the higher time frame in the market. Those who are trading the live assets for a long period time use the higher time frame due to its extreme level of reliability and profitability. If you look at the novice trader then you will see that most of them are trading the lower time frame in the market. If you trade the lower time frame in the market than you will never be able to execute high-quality trades in the market. When you draw the key support and resistance level in the market make sure to use the higher time frame and don’t force joint the support or resistance level in the market. Once you learn how to draw the support and resistance level in the market try to execute the trade in your demo trading account so that you are not exposed to real risk.

Use the major analysis: Most of the novice trader in the forex market fails to achieve success since they execute their trade based on technical analysis only. But if you truly want to become a professional trader then you must use all the major types of analysis in the market. If you look at the professional trader then you will all of them are taking high-quality trades in the market which are based on fundamental and sentiment analysis also. They make the combined effort of analysis to execute trades in the market. If you are relatively new in forex trading then you should trade by using the demo trading account since you won’t lose any real money in trading. All the professional traders learn the art of trading by using this system. But nowadays the novice traders are more restless and they tend to make money without having a proper knowledge about the financial industry. So when you start your trading career make sure that you learn all the three types of analysis in the market since it will help you to execute high-quality orders in the key support and resistance level in the market.

Multiple time frame analysis: Multiple time frame analysis is one of the most advanced forms of trading the financial instrument in the world. If you look at the professional trader then you will see every single one of them use the multiple time frame analysis in the market. If you are relatively new in forex trading then it will be the little bit tough for you to do the multiple time frame analysis so you can use this system in your demo trading account since there is nothing to lose. All the professional trader highly suggest not to trade with real money for multiple time frame analysis since it greatly increases the risk in the market. You need to have strong determination, devotion and dedication to trade the market. As a trader, you will often have some losing trades in the market but be sure to handle them properly. While trading the key support and resistance level in the market use proper risk management factors since it is one of the key ingredients to making profitable in the financial world.

In Summary, Support and resistance level trading is the most popular and profitable form of trading. If you truly want to become a professional trader in the financial world then making sure that you learn the art of support and resistance level trading. Those who are relatively new in trading should always trade the higher time frame since it greatly reduces the chances of error in the market. Before you take any trade in the market make sure that you proper risk management factors since it is they element of success.