Steps that must take before or after trading...newbies just look out it.

1.) view all news to be released for the day and time of release.
2.) On your Chart mark out the time of release of all high impact news, on all currency pair that include the pair in which the news is to be released.
3.) If trading the lower time frames; ALWAYS EXIT ALL TRADE AT THE TIME OF RELEASE OF SUCH NEWS.
4.) Follow your trading rules strictly.
5.) During Candlestick formation; always join the trend either at a price higher or lower than the closing price of the current candle stick ''as the trend maybe''. Irrespective of whatever time frame you are on.
6.) Never take side during trading, you are here only to make profit so always trade in the direction of the current trend.
7.) Always go through your chart at the end of the day, the week and the month.
8.) Learn to always include the spread of whatever pair you are trading on in your stop-loss.
9.) As far as your analysis/forecast in the lower time frames are in the same direction with the current trend indicated by the stochastic on the 4-Hour chart

Very nice and informative post friend..
Every new trader should follow these trading tips before opening and closing any trade

thanks dude.....will post more information for new bies like this that should be help something for newbie if they follow little bit of this kind of information .....

this thread is a good knowledge for newbies.actually even this thread is important fir me also. the news is a big factor for pair. the new is very effective for forex news. yes on that time you should close the trde if you are using m15 or lower time frame.

Quote:

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Originally Posted by Victoryindia

1.) view all news to be released for the day and time of release.
2.) On your Chart mark out the time of release of all high impact news, on all currency pair that include the pair in which the news is to be released.
3.) If trading the lower time frames; ALWAYS EXIT ALL TRADE AT THE TIME OF RELEASE OF SUCH NEWS.
4.) Follow your trading rules strictly.
5.) During Candlestick formation; always join the trend either at a price higher or lower than the closing price of the current candle stick ''as the trend maybe''. Irrespective of whatever time frame you are on.
6.) Never take side during trading, you are here only to make profit so always trade in the direction of the current trend.
7.) Always go through your chart at the end of the day, the week and the month.
8.) Learn to always include the spread of whatever pair you are trading on in your stop-loss.
9.) As far as your analysis/forecast in the lower time frames are in the same direction with the current trend indicated by the stochastic on the 4-Hour chart

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Its indeed a very good post buddy, and i feel it would be even better if you explain or suggest tips/methods on each of the points that you have given. And i believe it will be a very helpful guide for the newbies

Quote:

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Originally Posted by soumen

this thread is a good knowledge for newbies.actually even this thread is important fir me also. the news is a big factor for pair. the new is very effective for forex news. yes on that time you should close the trde if you are using m15 or lower time frame.

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otherwise afford or have the ability to perform better anlisa news we watch and wait how the market response to the news as we could have one in the positioning of trade and result on our account Patal

Quote:

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Originally Posted by soumen

this thread is a good knowledge for newbies.actually even this thread is important fir me also. the news is a big factor for pair. the new is very effective for forex news. yes on that time you should close the trde if you are using m15 or lower time frame.

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otherwise afford or have the ability to perform better anlisa news we watch and wait how the market response to the news as we could have one in the positioning of trade and result on our account Patal

Quote:

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Originally Posted by Victoryindia

1.) view all news to be released for the day and time of release.
2.) On your Chart mark out the time of release of all high impact news, on all currency pair that include the pair in which the news is to be released.
3.) If trading the lower time frames; ALWAYS EXIT ALL TRADE AT THE TIME OF RELEASE OF SUCH NEWS.
4.) Follow your trading rules strictly.
5.) During Candlestick formation; always join the trend either at a price higher or lower than the closing price of the current candle stick ''as the trend maybe''. Irrespective of whatever time frame you are on.
6.) Never take side during trading, you are here only to make profit so always trade in the direction of the current trend.
7.) Always go through your chart at the end of the day, the week and the month.
8.) Learn to always include the spread of whatever pair you are trading on in your stop-loss.
9.) As far as your analysis/forecast in the lower time frames are in the same direction with the current trend indicated by the stochastic on the 4-Hour chart

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for me point number 4 is hard. :D sometime i ussulay broke my trading rules, i broke it after get big loss. :D

Quote:

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Originally Posted by pivot-trader

for me point number 4 is hard. :D sometime i ussulay broke my trading rules, i broke it after get big loss. :D

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LOL dude. we know its hard to stick to even what we decided to do, forget about others. this is a sign of inexperience and we have to overcome it quickly if we want to progress ahead. and with consistently trading this will be over soon

Quote:

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Originally Posted by mayengbam

LOL dude. we know its hard to stick to even what we decided to do, forget about others. this is a sign of inexperience and we have to overcome it quickly if we want to progress ahead. and with consistently trading this will be over soon

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indeed very true what you say when we make a mistake we should be to correct those mistakes and not repeat it again