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How I became a successful part-time forex trader

{}Posted in2023/2/25 10:36:08 | 5Browse

forexcashrebatentroductionI am Joe Chalhoub, a computer engineer, forex trader Forex rebate for Exness strategy maker. I started currency cashbackforexexness 3 years ago. The first 3 months of trading were a complete failure, I remember I lost all ForexrebateforExness money and then I wanted to quit, but I couldnt, I thought if I quit now I would lose the opportunity to build my own business. So I stopped trading and started observing, learning, analyzing and practicing. Observation: I started to observe the market, what causes it to move, reflect, change and trade. Analys forexrebates: I began to perform technical and fundamental analysis; how each analysis predicted and reflected market changes and how I used it to gain profit. I will discuss these analyses in the following sections. Reading: I purchased and read forex trading books that explain the different strategies and techniques used by experienced traders. Practice: I applied for a free account and started trading virtually and tried each of the techniques I created and monitored their evolution. After a year of learning, analyzing and timing trading techniques and after numerous failures and setbacks I completed my own strategy and it worked very well and I had positive monthly earnings. I have reached my goals and created a successful strategy, but it is cashback forex enough; to make a profit I need to not miss any opportunity, the Forex market is full of opportunities because it is the most active market in the world, so I have to sit all day Monday through Friday and watch and take advantage of opportunities. How to solve this problem, I cant sit and watch the market all the time, I have my own career and my family, so I think I have to program my strategy and let the information technology work hard for me, no one can be as disciplined as software, so I created functional system software to collect data from the market and execute my strategy based on the data and take advantage of the opportunities 24 hours a day. This program analyzes basic and technical data and generates forex signals that are automatically transmitted to my forex platform and automatically executed and transmitted to my website members. Everything is done without my intervention, I just run the program, it analyzes and makes its own decisions (buy, sell or wait and see). The difference between this 5% and the other 95% is just one thing: hard work. Forex trading is not an easy business and anyone who tells you that you can get rich overnight is one of the 95. There is only one way to become a successful trader, work hard, there is no other way. Dont rely on other traders or advisors to help you, rely on and have confidence in yourself. Give yourself 6 to 12 months to learn, analyze, read, practice and create your own strategy, it will take a lot of time but eventually you will reach your goal. Strategies I will not show my complete strategies but I will show some tips to help traders to trade. My strategy follows the following tips and techniques: 1 Discipline: set guidelines for your trades, watch the market and only trade when you meet the guidelines, if not dont trade. My program is mostly disciplined traders, watching all the guidelines and monitoring the market and only trading when the guidelines are met, the second advantage is to exclude the fear factor and only trade when I see a suitable entry. On the other hand if I get a gain of +25 pips I set a stop loss on my single, in this case the gain will be no less than +25 pips and all I need to do is go out and enjoy life. 3 No trading now: The most important thing in trading is not to trade some of the time, I make this decision after watching the charts and seeing that there is not enough volatility or after not publishing enough reports today, preferably when the market is more volatile. I recommend not trading on the first day of the month, I personally start trading on the first Friday of the month when the non-farm payrolls report is released.4 Analysis: I use both fundamental and technical analysis when trading. Fundamentals define the market trend while technical analysis is used after the trend is formed. I programmatically analyze the published data and generate signals that are automatically executed on the trading platform and transmitted to my members. Fundamental and technical analysis must be used together, if used separately it will lead to failure.5 Technical indicators: there are many indicators in the Forex market. I use ADX, BollingerBands to determine the trend and volatility; RSI to determine the buy or sell; moving averages to determine the signal. The most important technique is FIBONACCI and I recommend traders to implement this technique and use it to confirm trades. Finally, I must say that Forex trading is not easy, many times we feel that someone is using a conspiracy against us to get our money, but the reality is that nothing is impossible, other successful traders are not smarter than us and they are not geniuses, the reality is that the harder you work the closer you are to becoming a successful trader. Dont quit quickly because this business is worth the hard work and dedication.
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