Currency Trading Research – Using It Correctly For Huge Gains!
Today, we live in an age with a huge amount of information at our disposal and the internet has bought a huge volume of currency trading research to everyone.
Yet this information has not helped increase the number of winning traders. Why?
Quite simply traders don’t know how to pick the right currency trading research, or how to use it correctly – here we will show you how and how to make big gains.
First things first
Many traders like to follow currency trading research and then blame it when they don’t make money.
If you follow currency trading research remember - it’s your call at the end of the day, if you did the trade win or lose that was up to you – you are responsible.
You need to check the currency research you follow carefully, fully understand it, to take both profits and losses.
Fundamental or technical
We often see people combine the two. Traders figure that they can use technicals and fundamentals together – they can’t.
With currency trading research you either do one or the other - not both.
Quite simply, there different ways of trading and you cannot combine them.
Consider this, at important market tops they normally oppose each other!
If they both agree you probably have a losing trade.
Go with one or the other and our view is with currency trading research go with the technicals.
Here are some tips on getting the best from technical currency research.
If you follow someone else’s currency trading research or you have devised your own system, you must have confidence that the logic works.
Because, if you don’t you will never have the discipline to follow it through your inevitable losing periods.
All currency trading research and the signals it generates will lose sometimes, so you need to stick with it and that requires confidence in it to succeed longer term.
Keep it simple!
It is a fact that simple trading methods are the best, as they are more robust in the face of brutal market trading conditions.
Simple research based on indicators that are easy to understand and apply works best.
Don’t join the far out investment crowd
By this we mean don’t be sucked in by the hype with currency trading research that promises 87% accuracy and their selling it for a $100! Making money is not easy remember that!
The real suckers though follow predictive theories such as Elliot wave and Gann.
They can predict the market in advance. Fantastic!
However, the reality is these theories don't work (its obvious why, if we all knew the price in advance there would of course not be a market) forget these theories and leave them for the dreamers and losers.
Focus on technical currency trading research that uses basic chart analysis with a few filter indicators that you understand and have confidence in.
Currency trading research – what works?
Look for currency trading research that uses breakout methods or is based upon Dow Theory and uses common indicators to filter trades like:
Stochastics, moving averages, MACD, Bollinger bands, RSI etc
Keep in mind the following
There is an awful lot of currency trading research on the net and traders have a lot to choose from.
They tend to pick systems that recommend easy profits or predict the market – they think making money is easy and that’s why they lose.
Don’t fall into this trap!
Using currency trading research correctly
If you follow currency trading research, make sure you understand it, feel confident in it and remember - simple methods and research are always the best and NEVER try and combine technical currency research with fundamental research to generate trades – this will ensure you lose.
If you want to win focus on technical currency research and follow the tips above to huge profits longer term.
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