Before sitting down to write this post, I thought I would search the Internet to see what information existed on options trading systems. I was shocked to find that there was barely anything posted on the subject. Seriously! There are hundreds of websites, brokerage firms, and trading services that want to sell you their system. The reality is that very few are able to describe what an options trading system actually is.
Faster Executions – Speaking to a broker is fine and from my experience they will get your order in fast but not as fast as you can do it yourself. Think of it like this. When you’re speaking to a broker what do you think they are doing? That’s right, they are looking at a screen that is probably a lot like yours and inputting the same order you would have input yourself.
I came across Lee Stanford at an event in London a couple of years ago. He used to be an internationally successful rugby player. When he retired as a rugby player he took up trading and became extremely successful at it. He was so successful at trading, he started his own school to teach others how to become successful traders. The school he started, Trading College, is now one of the most successful and respected trading schools in the UK, and runs regular courses on day Trading online, spread betting, swing trading and forex trading.
This way we can have a better grasp of the whole forex trading business by just following its actions. Once we get a hang of it we can start doing the trading ourselves. Automated trading system is devoid of any emotions hence it is totally unaffected by the psychology of the traders. The truth is once you start trading forex on your own you will realize how difficult it could be to trade real money.
Any online Forex Trading platform will make your investing business even easier for you to progress. There is the MT4 (meta trader) platform which is fantastic and easy to use. Some brokers also offer trade station platform which is slightly different but great too. Others offer a web based brexit millionaire platform for those who are not fond of desktop trading platforms. The only thing left for you to do is learn. And learn as much as possible to get the hang of this market.
Take advantage of four-hour and daily charts for the Forex market. You can track the Forex market down to every fifteen minutes! Shorter cycles like these have wide fluctuations due to randomness. It’s better to follow long term cycles to protect your emotions against short-term ups-and-downs.
Time Period – What times of the day will you trade? You may have outside responsibilities that prevent you from trading an entire trading day. Pick which times of the day best suit your style.
Range trading provides you good probability as 70% of time in a market is ranging. That means you have more chances compared to those who like to trade trending market. However, always bear in mind that the more you open position, the more risk you have and definitely the more time you need to watch a market. So always have control on yourself, you motivation and your health. Once you can control them, the odd is you’ll be more successful in your range trading.
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