Price action No loss

Strategy  – Trend Riding

Who doesn’t like a trend?

Many traders live by the often-repeated “the trend is your friend until the end” rule;
they are comforted with the knowledge that they are with the majority of the
market. Being able to ride on a trend is akin to making full use of the wind direction
to steer your ship towards your destination. For a ship to go against the wind
requires a tremendous amount of effort – one has to fight the stubborn resistance
from the opposing wind. Indeed, for most of the time, it pays more to be on the side
of the current trend than to go against it. In the forex market, trend riders can
capture any trend regardless of whether it is rising or falling in an attempt to
generate trading profits.
Forex tends to have quite trending markets, regardless of which time frame you are
looking at – trends are often formed on hourly, daily or weekly charts. This is due
to the fact that currency price movements are very much influenced by the
underlying macroeconomic factors which in turn shape the market players’ views
of where currency prices should be heading. With trends possibly having a long
lifespan stretching to months, or even years, it is no wonder that many traders and
fund managers exalt the strategy of hitching onto trends, with the glorious aim of
capturing enormous profits from start to finish.
Trend riding is one of my favourite trading approaches, and I often ride the uptrend
or downtrend after the trend has been established, rather than anticipating the move
before it happens. I would say that even though the trend is your friend most of the
times, one has to use a variety of methods to distinguish between a continuation of
the trend and a possible trend reversal. But before you can ride on trends, you first
need to identify what the current trend is, and to determine the time frame of
the trend.

What is Forex Trading?
Forex trading involves dealing in international currencies. Here, one can sell currency of one country to
buy that of another. The trader deals in Foreign Exchange [Forex] at the most appropriate time to profit
from the transaction. Good ability to forecast plays a vital role here. One may wonder how Forex trading
can be such a lucrative earning opportunity since fluctuations in exchange is so little.
But remember, when done in big volumes, a minor change can mean a lot. There are many nonmonetary
advantages to it as well. Anyone who wants to deal in Forex can do so, since only the basic
knowledge is required for it.
Forex can help you earn a lot of money. But there are certain conditions to follow before trading in
Forex. Firstly, one must have a thorough knowledge about the trends in the stock market, the basics of
trading and risk-taking ability. You will get all the help you need for attaining these conditions very
easily.
There are many sites on the internet which can help you clarify your basics and help you brave rough
weather. A good reason why Forex trading can be considered is the fact that there are frequent
fluctuations in currencies, though in percentage terms it may be small.
You gain

EUR USD SELL - 1.39150 TP - 1.38500

A Strategy – Market Sentiment
The forex market is heavily driven by market sentiment, and it is market sentiment
that influences traders’ decisions by triggering certain emotions and thoughts. Find
out what defines the current market sentiment, and how you can incorporate market
sentiment analysis into your trading.
Strategy

In my years of trading the forex market, I have found that consistent success came
from basing my trading philosophy on three M’s:
• Mind
• Money
• Method

sell    gbp/usd 1.6990 sl 1.7040

KEY POINTS TO REMEMBER

> Think for yourself.

> Know your risk tolerance.

> Know your goals.

> Follow your own path.

> Be disciplined.