Date:30th NOVEMBER 2017.

Golden Rules of Forex

MUST CHECK THIS LINK BEF0RE TRADE:

1.https://www.forexfactory.com/low*profile#acct.83-tab.overview-explorer.118034

2.https://www.forexfactory.com/andristiawan

3.https://www.forexfactory.com/shipcat

.4. https://www.forexfactory.com/squawk#acct.88

5.https://www.fxleaders.com/forex-signals?utm_source=EN+-+Short+Email+Subscribers&utm_campaign=7c17ea3d60-Daily_Mailer_11_23_2017&utm_medium=email&utm_term=0_eb5c2b1456-7c17ea3d60-60527121&mc_cid=7c17ea3d60&mc_eid=ffc362d7a1

*** Discipline is Essential for Success in Forex.

*** Money Management is the life, Trend is your friend.

*** 3M confirm : Mind, Method, Money Management.

*** Meditation: Aek¨B cÖwZw`b Ges Trade Kivi c~‡e© Meditation Ki‡ZB n‡e|

Most & First Analysis:

1. Day Candle Analysis + Add CROSS-Ema-20, 110 & Ema-10,20,100 &, Ema-10,20,/15,30in Day Chart + Line chart + Compare previous YEARS==Finally when confirm the Sell or Buy in the Day & H4 Chart-OK--We can take a TRADE OR CREATE PENDING ORDER .

2. RSI ANALYSIS DAY, H4, H1 IF- -OK--We can take a TRADE OR CREATE PENDING ORDER.

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2| Kvjvi Histogram Øviv Day I H 4 GbvjvBwmm Ki‡Z n‡e Ges Line PvU© Øviv Day PvU© G Overbought I Oversold wbwðZ n‡Z n‡e| mvßvwnK I gvwmK Candle ‡`L‡Z n‡e|

3| Currency Sheet Gi Øviv me‡P‡q kw³kvjx I me‡P‡q `ye©j Currency evwni Ki‡Z n‡e|

4| Lot size 0.01 n‡e Ges mKj †ÿ‡Î Support I Resistence eivei SL I TP _vK‡ZB n‡e|

5| Trade emv‡bvi gZ Ae¯’v bv _vK‡j Aek¨B Pending order 0.01 j‡U n‡e mv‡_ Aek¨B SL I TP _vK‡ZB n‡e|

6| Risk I Reward n‡e- 1:2 A_ev 1:3 (Best)|

7| Equity Gi Dci m‡e©v”P 2% †_‡K 5% ch©šÍ Risk ‡bIqv ‡h‡Z cv‡i|

8| Support I Resistance eivei Pjgvb Trade Ges Pending order Gi †ÿ‡Î SL I TP _vK‡ZB n‡e|

9| High Impact News Gi c~‡e©i 02 N›Uv I c‡ii 02 N›Uv g~j †UªwWs GKvD›U ¸‡jv‡Z Aek¨B †Kvb †UªW _vK‡eB bv| Z‡e Ab¨ GKwU †QvU GKvD‡›U (50-100 Wjvi) Support I Resistance Gi Dc‡i Ges bx‡P K‡qKwU ¯Í‡i Buy Stop I Sell Stop w`‡q News ‡UªW Kiv hv‡e|

10| Money Management kZfvM bv gvb‡j GKvD›U †h‡Kvb mgq Zero ev µvk n‡eB|

11| Myfxbook, Forexfactory, Dailyfx, Investing, ewYK evZ©v BZ¨vw` mvBU¸‡jv Analyze Ki‡Z n‡e|

12| News Sheet-G Myfxbook ‡_‡K mßv‡ni mKj News Record Ki‡Z n‡e|

13| Forex Factory ‡_‡K Traders view fvj fv‡e †`L‡Z n‡e|

14| GKvwaK †UªW Kv‡j Myfxbook ‡_‡K co-relation ‡`L‡Z n‡e|

15| Investing ‡_‡K Pair wUi Technical Analysis, Candle I Ab¨vb¨ w`K †`L‡Z n‡e|

16| Kzwg‡ii b¨vq †UªW emv‡Z n‡e| g‡bivL‡Z n‡e Market-G cÖwZw`b I mKj mgq ‡UªW emv‡bvi gZ Ae¯’v _v‡K bv|

17| †Kvb fv‡eB Overtrade Kiv hv‡e bv Ges 0.01 Gi †ekx j‡U Trade Kiv hv‡e bv|

18| me mgq eo jU Gi cwie‡Z© †QvU j‡U †ekx wccm Target Ki‡Z n‡e|

19| Trailing stop cÖ‡qvRb ey‡S e¨envi Ki‡Z n‡e|

20| High Impact New QvovI Ab¨vb¨ News G Market Gi eo ai‡Yi Movement n‡q _v‡K- Bnv Aek¨B g‡b ivL‡Z n‡e|

21| News hw` High impact nq †m mgq g~j GKvD›U ¸‡jv‡Z Aek¨B †Kvb †UªW _vK‡eB bv| Z‡e Ab¨ GKwU 50 USD ev 100 USD GKvD›U-G K‡qKwU ¯Í‡i (0.05-0.10-0.20.0.50-1)-Gfv‡e BUY Stop I Sell Stop Order-Support I Resistemce Gi gv_vq w`‡q Ges Market Movement-G fvjfv‡e bRi †i‡L †UªW Kiv hv‡e|

22| MT-4 Chart-G fvjfv‡e Trend Line AvuK‡Z n‡e|

23| 3wU GKvD›U _vK‡e, GKwU‡Z Day Trade, GKwU‡Z Long Trade I GKwU †QvU GKvD›U (20-50 Wjvi) G News mg‡q Trade n‡e|

24| mKj GKvD‡›U cÖwZwU †UªW Gi c~‡e© mv`v mx‡U Equity Gi †iKW© Aek¨B ivL‡Z n‡e|

25| Relax wbqwgZ Ki‡ZB n‡e|

26| kvwiixK I gvbwmK Ae¯’v mKj mgq fvj ivL‡ZB n‡e|

27| Av‡eM I †jvf kZfvM cwinvi Ki‡ZB n‡e Ges Av‡eM I †jv‡fi Kvi‡Y Aek¨B Trade emv‡bv hv‡eB bv|

28| mKj †ÿ‡Î kZfvM Discipline gvb‡ZB n‡e Ges Aek¨B Forex Avmw³ I AbjvBb Avmw³i wkKvi nIqv hv‡e bv|

MUST CHECK THIS LINK BEF0RE TRADE:

https://www.forexfactory.com/squawk#acct.88

DEFINITION of 'Trading Psychology'

The emotions and mental state that dictate success or failure in trading securities. Trading psychology refers to the aspects of an individual’s mental makeup that help determine whether he or she will be successful in buying and selling securities for a profit. Trading psychology is as important as other attributes such as knowledge, experience and skill in determining trading success. Discipline and risk-taking are two of the most critical aspects of trading psychology, since a trader’s implementation of these aspects is critical to the success of his or her trading plan. While fear and greed are the two most commonly known emotions associated with trading psychology, other emotions that drive trading behavior are hope and regret.

'Trading Psychology'For an understanding of trading psychology, consider some examples of the emotions associated with it.

Greed is an excessive desire for wealth.

Successful traders have some common psychological traits that contribute to their success. These traits include: –

Know your limits and do not over trade.

Risk management is the key to preserving trading capital and attaining trading success.

Maintain trading discipline at all times.

Know the difference between not fighting the trend and following the herd.

· 'Emotional Neutrality'

The concept of emotional neutrality arises out of the typical human reaction to profits and losses -- investors are typically pleased when their trades produce profits and unhappy when their trades produce losses. However, if investors are able to remove the impact that their emotions have on their trading decisions, proponents of emotional neutrality contend that doing so will result in improved trading performance.

http://www.forexfunction.com/rsi-scalping-forex-strategy-with-bollinger-band
RSI-scalping-forex-strategy-with-bollinger-band

This Forex strategy can be used on ranging market for scalping and intraday purpose. RSI is used in this strategy to find out overbought and oversold area of market price. Bollinger band will give price high and low ranging area. With both indicators, we will get low price to enter buy position and high price to enter sell position. So let's learn about this strategy with chart example.

Required Indicators

1. Bollinger Band Indicator Click here for Bollinger Band setup process

2. RSI Indicator Click here for RSI setup process

Buy Setup Rules

✪ First market price needs to touch lower band of bollinger band.

✪ Then wait for RSI to cross 30 level from lower to upper.

✪ If both conditions fulfills at a time, then open buy position.

✪ If RSI is not near to oversold area, then avoid that.

✪ Set TP 10-40 pips for every buy entry.

✪ Set SL 10-25 pips or set below the recent low candle.

Sell Setup Rules

✪ First market price needs to touch upper band of bollinger band.

✪ Then wait for RSI to cross 70 level from upper to lower

✪ If both conditions fulfills at a time, then open sell position.

✪ If RSI is not near to overbought area, then avoid that.

✪ Set TP 10-40 pips for every sell entry.

✪ Set SL 10-25 pips or set below the recent high candle.

Buy/Sell Setup Examples

rsi-bollinger-band-scalping-trading-strategy

In the above AUDUSD M15 chart, price touched upper band of bollinger band and formed bearish candle, then rsi started falling from 70 level. It was perfect sell setup according to this strategy. On the buy setup, we can see price touched bollinger band first, but rsi didn't fulfills the conditions. After 2 candles, rsi confirms buy signal. So for taking entry, we need to wait for both indicators confirmation.

Time Frames: M5, M15, M30.

Currency Pairs: Audusd, Eurusd

Risk Warning: This strategy is suitable for range market situation. In volatile market, you can't get good signals from this strategy. So try to use this strategy on demo and if you satisfied, then you can use this strategy on real account with proper money management.

How to set Bollinger Bands in mt4 chart

Last Update: 04 February,2015

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Bollinger Bands is a technical analysis tools which indicates overbought and oversold area by two standard deviation bands. Upper band of Bollinger Bands indicates overbought area and lower band indicates oversold area of the market price. From this indicator, you can measure volatility of the market movement. When the bands are within a range, then it indicates less volatile. When the bands are widen, then it indicates the volatility of the market price. Usually 20 simple moving average is used on Bollinger Bands.

In this tutorial, you will learn:

(1)how to set Bollinger Bands indicator on your chart,

(2)how to customize its parameters,

(3)how to remove this indicator from mt4 chart.

How to set Bollinger Bands indicator

First open your chart. In the above menu, click on ”Insert”. Then click on ”Indicators” and ”Trend”. You will see Bollinger Bands indicator. Then click on ”Bollinger Bands” .

Bollinger-band-set-up

How to customize its parameter

You will get new window to customize the parameters of Bollinger Bands indicator. In ”Parameters” tab, you will get three parameters such as ”Period”, ”Shift”, ”Deviations”. In ”Period” box, you can put your desired simple moving average value. Here 20 SMA is used. You can set 0 value on ”Shift” box. In ”Deviations” box, you can put value how much you want to get standard deviation range. In default setting, you can use 2 on ”Deviations” box. You can change the color and width of Bollinger Bands indicator. Here red color is used on this indicator.

edit-parameters-of-bollinger-band

In ”Levels” tab, you can add level on this indicator. Click on ”Add” and put value on level. You can put 0 value on level. Here you can change level’s color and width.

add-level-on-bollinger-band

You can add another Bollinger Bands on same chart. You have to follow above process of adding this indicator. You need to make only one change in ”Parameters” tab. You need to put 3 on ”Deviations” box. You can add more bands and for that you just need to change ”Deviations” value.

double-bollinger-band-on-mt4-chart

How to remove Bollinger Bands from chart

You can remove different bands separately from your chart. You have to move your mouse on the band which you want to remove and press on ”Right-button”. New window will be appeared. Then click ”Delete Indicator”. Thus your desired band will be removed from your chart.

How to set RSI indicator in mt4 chart

Last Update: 29 January,2015

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RSI (Relative Strength Index) is a popular trading indicator which indicates overbought and oversold area of the price movement. Usually 70 and 30 levels are used to identify the overbought and oversold area. Above 70 level indicates overbought area and below 30 level indicates oversold area. 50 level is used for trend changing. If price cross 50 level from lower to upper, then it indicates uptrend. If price cross 50 level from upper to lower, then it indicates downtrend.

In this tutorial, you will learn:
(1)how to set RSI indicator on your chart,
(2)how to customize its parameters,
(3)how to remove this indicator from mt4 chart.

How to set RSI indicator
First open your chart. Click on ”Insert”. Then click on ”Indicators” and ”Oscillators”. You will see your desired indicator. Then click on ”Relative Strength Index” .

RSI-set-up

How to customize its parameter
You will get new window to customize the parameters of RSI indicator. In ”Parameters” tab, you can change ”Period” option. You can put your desired value on period box. Here you can change the color and width of RSI indicator.

edit-parameters-of-rsi

In ”Levels” tab, you can add levels on RSI indicator. Click on ”Add” and you can put value on level. You can add 30, 50 and 70 level. You can change the color of the level lines.

add-level-on-rsi

How to remove RSI indicator from chart
You can remove this RSI indicator from your chart. Move your mouse on the indicator and press on ”Right-button”. New window will be appeared. Then click ”Delete Indicator Window”. Thus RSI indicator will be disappear from your chart.

delete-process-of-rsi

Money Management in Forex Trading

Last Update: 08 July,2014

Forex Money Management:

The key to success behind a successful trader is his strong and disciplined money management. It is very vital for Security Trading, Forex, Options, Futures and Commodity Trading. If you don’t believe in efficient money management, you may lost your capital (Margin Call) in a few days or even few minutes. It has been said the 90% forex trader fall in margin call due to unstable money management.
So before starting real trading we might need to know what is money management ?
“Money Management is the combination of some set of rules that help you how to manage or operate your capital properly”. Suppose that you are a college student and your parents send you 100 USD per month for your expenses. So you should spend 3.33USD per day to stay live the whole month. It is your money management rule and if you don’t follow this rule then you might fall in danger.
Money Management in Forex trading can help to secure your capital and as well as able to make profit daily basis. Golden rules for Forex money management are discussed below-

Take low Percentage of Risk:

In Forex trading your first target should be survive and second target is to make consistent profit. To keep your account alive you might need to take low percentage of risk of your trading. If you do it, you can hold your consistency in profit otherwise it is too hard to exist in Forex.
Result Comparison Between Low Risk and High Risk:

Trade No.	Tradable Balance	Loss (1% Risk)	Tradable Balance	Loss (10%Risk)
01	$5000(Initiial Deposit)	$50	$5000(Initiial Deposit)	$500
02	$4950	$49	$4500	$450
03	$4901	$49	$4050	$405
04	$4852	$48	$3645	$364
05	$4803	$48	$3281	$328
06	$4755	$47	$2953	$295
07	$4707	$47	$2658	$266
08	$4660	$47	$2393	$239
09	$4614	$46	$2154	$215
10	$4568 (total 8.6% loss)	---	$1939(total 60% loss)	---

Clearly shows the difference between the 1% risk and 10% risk. Normally a trader may not loss 10 trades in a row but if he can take 1% risk then there will not so effect because total loss is 8.6% of capital. On the other hand if a trader trade worst trading like taking 10% risk there will much effect because he loss 60% capital after 10 loss trade and it is too hard to recover the 60% loss. So before opening a trade calculate your risk level. For better understanding please see the following table:-

Risk Level Calculation:

Deposit	Risk Level	Trade Volume (Standard Lot)	Loss (Pips)	Loss (USD)	Margin Call (Minimum trades)
$5000	100%	10	50 pips	$5000	1 trade
$5000	50%	5	50pips	$2500	2 trade
$5000	25%	2.5	50 pips	$1250	4 trades
$5000	10%	1.00	50pips	$500	10 trades
$5000	5%	0.50	50pips	$250	20 trades
$5000	2%	0.20	50 pips	$100	50 Trades
$5000	1%	0.10	50pips	$50	100 trades

So try to trade with taking maximum 1-2% risk.

Calculate Drawdown Regularly:

It is also very important to count down the drawdown of your capital regular basis. For example:you have lost 10% of your capital then you need to make 11.11% profit from your remaining capital ( ie 10% loss of 100USD is 10USD. So to recover the money of your capital you need to make profit (10/90 )*100 =11.11% of 90USD ). So if you loss 50% of your capital, to recover these you need to make 100% profit from remaining capital . To learn how to calculate drawdown of your capital I give a calculation chart below for better understand.

How to Calculate Drawdown?

Date	Flow Price	Peak Price	Draw Down
01/01/2050	$1000 (Initial Invest)	$1000	-
02/01/2050	$1100	$1100	-
03/01/2050	$1050	$1100	4.76%
04/01/2050	$1010	$1100	8.91%
05/01/2050	$1080	$1100	1.85%
06/01/2050	$1150	$1150	-
07/01/2050	$1250	$1250	-
08/01/2050	$990	$1250	26.26%
09/01/2050	$950	$1250	31.57%
10/01/2050	$970	$1250	22.55%

Rule for calculating drawdown=[{(Peak Price-Flow Price )*100}/Flow Price]
So If you fall into the big loss , you need to invest more to accomplish what you need to recover, but if no follow Money Management you may fall again in loss. So be careful about your loses.

Calculate the Risk Reword Ratio:

If a trade is unlikely to profit or more risky then try to avoid that type of trade. So before opening a single trade it should be analyzed properly about risk vs reword ratio. Please notice the following chart-

Risk vs Reword Calculation

Risk:Reward	Trade Volume (Standard Lot)	Stop Loss	Take Profit	Loss	Profit	Total Trades	Net Profit/Loss
1:5	0.10	20 pips	100 pips	$20	$100	10	$800
1:4	0.10	25 pips	100pips	$25	$100	10	$750
1:3	0.10	33 pips	99 pips	$33	$99	10	$660
1:2	0.10	50 pips	100 pips	$50	$100	10	$500
1:1	0.10	100 pips	100 pips	$100	$100	10	$0.00
2:1	0.10	100 pips	50 pips	$100	$50	10	-$500
3:1	0.10	99 pips	33 pips	$99	$33	10	-$660
4:1	0.10	100 pips	25 pips	$100	$25	10	-$750
5:1	0.10	100 pips	20 pips	$100	$20	10	-$800

However, More risk reward does not means more profit because there is good chance to hit the stop loss point. Mnay professional trader use 1:1 and 1:2 risk reword ratio for stable trading. As each currency or price has its own strength and often try to recover after falling down, so we should use equal risk and reword ratio for better money management . It is always recommended to open every single trade with setting up stop loss and try to fixed the risk reword ratio.

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