We are firm believers of the KISS Trading. KISS means Keep It Super Simple. Don’t look for titanium coated trading system that use advanced machine learning algorithms developed by a Nobel Prize winning scientist. Just look at the charts naked and open your trade with the minimum possible risk using a pending order. You can download this 55 page PDF alongwith with this another 15 page PDF Macro Level Trading Strategy by Michael Nurok FREE. In this FREE 55 page PDF-The FX Files Tips & Truisms of Trading Forex, he gives you simple tips that can help you become a better trader.
The first tip that Michael Nurok gives is that you should treat forex trading as a business. Yes you need a business plan for trading. Write down your business plan and follow it strictly on a daily business. Your business plan should have achievable goals. Learn to manage your risk. Risk should be not more than 2% of your account equity at any time. Always decide positions in advance. Never trade under influence and never trade with your pride. Don’t be greedy and always keep a trading journal. Capital grows through small winners not just the big winners. You can also download this 14 page PDF Price Flip Strategy by Michael Nurok FREE. In this Price Flip Strategy, you learn how to trade with a simple pure price action pattern. Combine this Price Flip strategy with the FX Files. You will see how simple your trading will become. Just look for low risk trades. Fix your daily target that is achievable. It is a good idea to fix 100 pips as a daily target. Once you have achieved your daily target call it a day and enjoy the rest of the day with your family.
You should learn from your mistakes. You should also learn to master your emotions. Just stick with one strategy and don’t overtrade. You can also download this Trend Catcher Strategy PDF by Michael Nurok. Trading with the trend is the best strategy. Trend trading should be your one strategy that you should master. Just practice trading with the trend on daily basis. Trading with the trend doesn’t mean that you should stick with the trend till it ends. It just means you only need to trade in the direction of the trend. First determine the trend. Determine that the trend is not near its end. Once you are satisfied choose a realistic profit target and open the trade in the direction of the trend. You should have a clear concept of support and resistance. Don’t panic when you lose. Just make sure you control your emotions and you should avoid reckless trading.