Pro traders always trade the market with a simple strategy. They never give any importance to the complicated trading method as it generates too many false signals. Though the complex trading strategy might seem lucrative, it complicates the investment process. It’s not necessary an advanced trading technique which needs to be complicated. In fact, most of the advanced trading techniques are very easy to use and anyone can learn it. By taking guidelines from the experts, thousands of rookie UK traders have learned about the advanced trading technique. With the help of that technique, they are making some good profit even with small accounts.
Learning about advanced technology has always been a challenging task with live forex signals. But we are going to present things in a different way. After reading this article, you will be able to think like the professionals and use the advanced method to make some big money.
Trend trading technique
You might be wondering why the trend trading technique is not all that advanced. This is one of the most efficient ways to trade the Forex market with confidence. You have to learn to draw a valid trend line in any time frame. To avoid the noise, you should prefer the daily time frame in trend trading strategy. Connect the critical points with precision so that you don’t have to deal with the wrong support and resistance line. Once the trend line is drawn, trade the market with a low-risk profile. Though you might win most of the trades, you should not forget the trend often changes in the event of high impact news.
Chart pattern trading technique
The advanced traders love to trade the major chart pattern. The chart pattern trading technique is based on different geometrical shapes. If you can learn to deal with the major patterns like a triangle, head, and shoulder, etc. you can place quality trade sin the Forex trading account. But learning about the different chart patterns is a daunting task and the naïve traders often get confused. In order to keep things organized, you should start with the simple chart pattern trading method. Open a virtual account with Saxo and test different kinds of chart pattern trading strategies. Stick to the trend continuation chart pattern at the initial stage so that you don’t have to take a high risk by choosing the reversal trading method.
News trading method
Things become hard when the traders start to deal with the major news. News trading is by far the most efficient way to secure big profits in a short time. But to trade major news, you have to know the difference between high and low impact news. Though it will be a very challenging task, you can easily do so by reading articles on news trading. Forget about the super bots that can give you critical information about the direction based on news data. In news trading, you have to understand the sentiment of the market.
Sentiment analysis is a very complicated process. It might take a year to learn this process. But this should not stop you from trading the news. Reduce the risk to 1% and try to ride the big movement during the major news.
Advance risk management policy
Managing the risk factors is the most important task for retail traders. Those who are trading with high risk are losing money most of the time since they don’t have the skills to deal with the losses. In the trading business, you should be more concerned about the safety of the investment. Maintain a low-risk profile and stop using the insane leverage. Leverage can multiply the profit but it also put your investment at great risk. Think about the safety of your capital so that you don’t have to blow up the account. Learning to trade with a low-risk profile is one of the key steps to succeeding in trading.
