How to Trade Forex Using Buy and Sell - Philippetrade.com

Friday, June 3, 2022

How to Trade Forex Using Buy and Sell

How to trade forex this time will discuss the most basic things in playing trading in the forex market, namely how to use buy and sell in forex. Maybe for traders who have been playing for a long time, this is not something strange or complicated. But for novice players, of course they will feel confused about how to run these two terms.

It is important for every player to know how these two terms work. This is because the two terms are closely related to the trading process in the forex market. You will use both terms to define what you will do with foreign exchange and the current curve.

The Principle of Follow The Trend



There is a saying that says follow the trend, the trend is your friend. The point is, before deciding to enter, it's a good idea to know in advance the current trend. Once you know, you just need to follow the trend. It seems simple indeed to use buy and cell in this way.

In general, the trend in forex is divided into 3, namely uptrend (uptrend), downtrend (downtrend), and sideways (flatten within a certain range). To be able to read the ongoing trend, you can create a trendline.

The trick is to specify a low level point and a high level point, then draw a straight line from high to high or low to low. Another alternative way is to create support and resistance lines. If the price crosses the support and resistance lines, it could be a sign that the price will change direction.

Determine the Duration of Hold Position

The next way of forex trading is to determine how long you can hold a position. To be able to find out, you must first determine what style to use. Will you use a scalper, intraday, or even a swinger? Scalper is a trader who is very strict in monitoring currency movements in front of the computer.

Intraday is a trader who holds a position for one day. For example, suppose you open a position on a pair in the morning, then close it in the afternoon. This may be suitable for those of you who like to spend a lot of time at the computer, but don't keep an eye on currency movements.

Swingers are traders who hold positions in the forex market from one day to even days. There are even swingers that can hold positions for weeks. Usually swinger traders will place positions in accordance with the direction of the trend to be able to get the maximum profit.

You can also use the existing time frame as a benchmark or margin, whether you want to open a position for a long period of time or vice versa. For example, like swinger traders who tend to play long term and choose a timeframe of 4 hours and above, that's how to buy and sell forex trading.

Keyword: how to trade forex

Description: in buying and selling forex, you must first know the principle of following the trend and how long you have to play.

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