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Business 211 views Sep 19, 2017
Simplify to make your profits run long

Many traders have spent their lifetime by chasing after the legendary Holy Grail of Forex. Alas! if only they could understand there is no Holy Grail in Forex! You could not make these traders understand that they are not going to rich by getting that Holy Grail. Another group of traders are there who always think of Forex market and trading in the most complicated way possible. They will say that if trading was so simple, why only 5% traders are making a profit in Forex? It is all about complex strategy and simple strategy cannot give profit.

It is the most amateur answer that you can get from the traders. If any traders give you this answer, simply ignore any advice from that trader. Believe us and you will be doing yourself a great favor. The only way to make your profits running in Forex is by simplifying your strategy. What, you don’t believe us? You will, after reading our next part in this article.

Simple strategy keeps you focused

Traders think they can analyze the market better if they use many patterns and chart in their trading platform. They also sometimes use many graphs to over analysis the market. It is simply wasting their time and distracting themselves. If you use more pattern in your charts, you will only make it look complicated. The trick of making a profit is to know where the money is. After you have found out the money in the market, your work is only to place a trade. Simple strategy takes less time and it is more focused on the basics and fundamental of Forex, which is to make money. If something simple works and gives you profit, this thing is worthy of using.

It runs the profit

When you are only focused on making money by using a simple strategy, you will know when to enter the market and when to exit. You will not be analyzing many patterns in CFD market and this will give you more time to plan your strategy. If you are to make your decision in many news and patterns, you will make the wrong decisions. When you are given less but right information, you will make decisions what makes the most profit. The secret of professional traders is the simplicity. The only trade and analysis the essential information of Forex. They believe simple is where you will achieve your goals. Keep your strategy simple and see the magic. If possible learn the price action trading system. This system deals with the different forms of the Japanese candlestick and the professional traders trade the key support and resistance level with this.

Follow the market trend

Trend trading is always the best way to simplify your trading system. Most of the retail traders lose money in the online trading world by trying to pick the tops and bottoms of the currency pair. But all the professional traders in Switzerland always suggest the novice traders’ trade along with the market trend. If you consider trading as your full-time profession then you should also trade with a reputed broker like Saxo. They provide an excellent trading platform like SaxoTraderGo where you will have access to all the financial instrument. Most importantly you can also trade the market with the extreme level of precision due to advanced trading tools. It's true that if you trade with an elite class broker than the initial cost will be a little bit high but in the long run, you will be the ultimate gainer.

Summary: Simple is always best. There is no point of using the complex trading system when the simple price action trading system is capable of making a profit. When you place your trade make sure that you are trading in favor of the prevailing trend and don’t risk too much on any single trade.

Tags: #  #Finance  #Forex Trading