INTRADAY FOR NEWBIES
Introduction
In the forex world we know a variety of trading styles. There is the long term by holding positions for days until for months. There is also a swing style with trend-following very short term as a period of hours. There is also scalping style that takes a very small profit at the time large market movements. Finally there is also that we know with intraday name that is opened and closed in one position days. In this paper we will elaborate further on the style intraday trading is designed for beginner traders / newbies who want to try wearing this style. Although writing is devoted to beginner traders, this paper can also used by senior traders as a reference that can either visits from time to time or as a reference in education traders with a more junior.
The Beginner Questions The question that often times I find and get from counterparts, especially the beginner trader are questions like this: "Today GU rise or fall?" or "I should positions open buy / sell where yah? "and also" My position right now + Or - how many points, we suggest how well? ". For me, legitimate and fair question just asked by the beginner because beginners often do not understand how to behave in the market, including how to behave towards his own position because I had never experienced the same thing ?. Here I will not discuss about how to answer question directly (because they could answer all sorts) or the obligations that must be done a trader in order to answer such a question, but I will discuss why such a question appears.
I think one reason such a question arise because in general the beginner yet or do not have the style alias clear trading is still trial and error. Novices often open position based on the feeling or because somebody signals or the instructions Inu but do not understand how to use or utilize the signals or clues. In this paper, I to put forward a so-called intraday trading style so that beginners can finally answered his own questions as above and responsible for their own trading results.
Intraday Why? Many people will ask why I propose an intraday strategy. Did not result from an intraday usually fail with the results of the swing style or even scalping? Indeed each trader has their own style and it really is the right of the trader to decide. In this paper outlines some things sayahanya why I chose this style of trading with no intention of demeaning or disparaging the other trading styles.
At the beginning or the beginning my trading, I began to calculate the potential gain or profit to be gained from trading. Much input as I can, especially from senior traders. follow the trend until the trend ends and pursue a consistent first trading quality before quantity. I also follow the advice above two and I decided to use force to take profits scalping 5-10 points. In my mind as a beginner I think that means consistent quality trading profit continuously from day to day even though the numbers are small. Rough calculations, if one day be able to profit consistently 5 points for a month then the result is less than (20 * 5) = 100 points and for a year to be 1200 points! If every trading using margin leverage 1:100 and 10% of capital in a year then my capital has increased 120%! Wow, for me it is a very big number.
Scalping mission consistent with the expectation that one year can be 120% capital I go through with wearing any chart time frame is 5 minutes and a variety of indicators such as MA, MACD, RSI, Bolinger Bands, Stochastic, etc?. The results are very encouraging during the two weeks that is 5-10 points profit every day! Wow, what a lucky man I am! Of course the reader is aware that the story is not over and there tapinya? And this time you're right! After periods of luck I got to meet loss losses. Since I am among those who discipline in trading, so I always set a stop loss (SL) andtarget profit (TP). I usually set my SL in the EU -35 and -50 in GU? It's my loss, but it can diminalisir me begin to realize one more thing that is often also I see from the seniors of profit opportunities and risks lossnya not draw! With such a trading style of comparison between the profit opportunities and risks in the EU is 5:35 lossnya aka 1:7. This means 7 times the profit break-even with one loss! In addition, I also realize that time can I use for trading is very limited, only a few hours each day. The conclusion was that the big risk and a limited trading time I experienced fatigue in the style of such trading.
I also look for ways other trading profit comparison between the opportunities and risks better. Finally after going through the seniors who use the trail intraday? It turns out consistently in the trading that does not mean profit every day but the results are consistent from week to week, month to month, and year to year. In the forex world we know a variety of trading styles. There is the long term by holding positions for days until for months. There is also a swing style with trend-following very short term as a period of hours. There is also scalping style that takes a very small profit at the time large market movements. Finally there is also that we know with intraday name that is opened and closed in one position days. In this paper we will elaborate further on the style intraday trading is designed for beginner traders / newbies who want to try wearing this style. Although writing is devoted to beginner traders, this paper can also used by senior traders as a reference that can either visits from time to time or as a reference in education traders with a more junior.
The Beginner Questions The question that often times I find and get from counterparts, especially the beginner trader are questions like this: "Today GU rise or fall?" or "I should positions open buy / sell where yah? "and also" My position right now + Or - how many points, we suggest how well? ". For me, legitimate and fair question just asked by the beginner because beginners often do not understand how to behave in the market, including how to behave towards his own position because I had never experienced the same thing ?. Here I will not discuss about how to answer question directly (because they could answer all sorts) or the obligations that must be done a trader in order to answer such a question, but I will discuss why such a question appears.
I think one reason such a question arise because in general the beginner yet or do not have the style alias clear trading is still trial and error. Novices often open position based on the feeling or because somebody signals or the instructions Inu but do not understand how to use or utilize the signals or clues. In this paper, I to put forward a so-called intraday trading style so that beginners can finally answered his own questions as above and responsible for their own trading results.
Intraday Why? Many people will ask why I propose an intraday strategy. Did not result from an intraday usually fail with the results of the swing style or even scalping? Indeed each trader has their own style and it really is the right of the trader to decide. In this paper outlines some things sayahanya why I chose this style of trading with no intention of demeaning or disparaging the other trading styles.
At the beginning or the beginning my trading, I began to calculate the potential gain or profit to be gained from trading. Much input as I can, especially from senior traders. follow the trend until the trend ends and pursue a consistent first trading quality before quantity. I also follow the advice above two and I decided to use force to take profits scalping 5-10 points. In my mind as a beginner I think that means consistent quality trading profit continuously from day to day even though the numbers are small. Rough calculations, if one day be able to profit consistently 5 points for a month then the result is less than (20 * 5) = 100 points and for a year to be 1200 points! If every trading using margin leverage 1:100 and 10% of capital in a year then my capital has increased 120%! Wow, for me it is a very big number.
Scalping mission consistent with the expectation that one year can be 120% capital I go through with wearing any chart time frame is 5 minutes and a variety of indicators such as MA, MACD, RSI, Bolinger Bands, Stochastic, etc?. The results are very encouraging during the two weeks that is 5-10 points profit every day! Wow, what a lucky man I am! Of course the reader is aware that the story is not over and there tapinya? And this time you're right! After periods of luck I got to meet loss losses. Since I am among those who discipline in trading, so I always set a stop loss (SL) and
With this I get intraday is best comparison between the profit opportunities and risk of loss is about 1:1 or 6:5. Plus a few rules that I designed myself then this ratio can be improved. Apart from the profit ratio rose, I also do not experience fatigue due to open only one position per pair in one day. Moreover, because the position is opened and closed in one day then do not worry about the swap or interest affected negatively.
Intraday Rules Just like all other trading style, the style is also an intraday has some rules, namely:
1. The position is opened and closed in one day, no overnight. If the position is still open before midnight, then the position is closed.
2. Always use the SL and TP discipline every open position or make an order.
3. Disciplined use of margin. Should not use more than 10% overall margin is used.
4. Patience. Do not sliding SL and TP determined except for a trailing or securing profits. Let the position exposed to SL or TP or manual closure by midnight.
In addition to the basic rules on the course, each trader can make their own rules according to their own interests, which remain important in the corridor in a day and intraday aka discipline. It is usually a difficult discipline, especially for beginners, but this needs to be trained continuously. If necessary do not open your trading platform until just before midnight after open position or make an order?
Determining TrendThe most fundamental thing in applying is to determine intraday trend. If the trend bulish (up) then we buy. If the trend bearish (down), then we sell. If the trend is not clear alias sideway direction then we will not enter the market and open a position or make an order. By following the trend that we minimize our risk of loss and maximize our profit opportunities. The question is how do we determine the trend? Determining the trend can be an indicator but for me the best way to determine the trend is directly with the price chart.
Create OrderAfter determining the trends we move to the other basic things that make the order. Trend only gave us directions to where the market will go but did not give an answer where we open a position. Here I will use a simple but effective way of using pivot calculation, support, and resistance to make the order.
Calculation Pivot, Support, and Resistance which I useare:
R3: H + 2 * (Pivot - L)
R2 : Pivot + H - L
R1: (2 * pivot) - L
Pivot: (H + L + C) / 3
S1: (2 * Pivot) - H
S2: Pivot - H + L
S3: L - 2 * (Pivot - H)
Description:
H = high the previous day,
L = low the previous day,
C = close the previous day.
I suggest to install the SL from the open position for ½ of the average range pair. As an example of the use is SL for GU and CHF -50, -35 for the EU, -40 to UJ. Then we will put our SL above resistance or below support to protect against the support / resistance.Usually using the difference of 10 points with support / resistance deviation calculations to cover support / resistance and spread. Then put the TP in normal or S0.5 R0.5 is the midpoint between the pivot with the R1 or S1 safe just because regular search?
ConclusionIntraday trading style is best suited for traders who follow trends and does not have a lot of time. In intraday, the ratio of profit and risk of loss can be minimized so it is quite comparable.A basic rule is a discipline in intraday especially in open and closed positions. This is an intraday basis to determine trends and make orders according to the trend.
CoverWriting about this is just an example intraday danpengalaman my observations regarding intraday. Outside the above examples there are many variants intraday with advantages and disadvantages of each. Please be studied and adapted to each reader's interests. Hopefully, this paper useful especially for beginners.
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