​Five Main Points for Intraday Forex Trading

WikiFX Strategies (1 Apr.) - Five major points in relation to intraday transactions listed following are expected to be helpful for all of you.

1. Methods of opening positions

Following methods are recommended due to intraday trading characterized by its short period of time and quick results:

• Testing positions: This is appropriate for operations with the signal accuracy lower than 90%. When tested with 5% of the positions, adding can be carried out after the risk evaluation if stop-loss places and basic trends dont reverse while prices are still in their cost zone. The method can efficiently avoid losses and stabilize profits.

• One-time opening: This requires operators to be so highly capable in reading trading charts that they can open positions in one time. The method is simple without the consideration of adding.

2. Signal

Signals suitable for operating principles lay a foundation for placing orders. This kind often occurs with high frequency, making it easy to seize.

3. Stop loss

Stop-loss point of every signal is different. Thorough understanding of trading products can allow you to be perfectly safe. In addition, even the best stop-loss operation cannot be conducted frequently within a short-term period, otherwise a tiny loss may turn to be a giant one.

4. Stop profit

Stop-profit point of every signal is different. These operations can be launched based on moving average (MA), locations and indexes, among which the last generally works the best in seizing a relatively ideal market.

5. Trading scheme

Operation is rooted in good trading schemes. Keeping everything in control equips traders with good mentality, resulting in continuous transactions without the impact of occasional losses.

Download WikiFX to get lessons from experts who have traded forex for over 20 years.