Trader's checklist. Part 2 - Page 2
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Thread: Trader's checklist. Part 2

  1. #11
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    [lang=id]dear sir, how about basket trading ? i see that this methods use the correlation for some pairs, some pair will move with the same trend and opposite the others, and the concepts is like the hedging, but sometimes i see a pair who have different movements,

  2. #12
    I do even believe that proper money management should be the primary things one must do...then comes the technical analysis and in this i used to check moving averages, MACD, Bollinger Bands and RSI etc...and apart from this i used to keep the checklist of news and its impact on the primary currency pair....and rest is the fundamental part...if one keeps these basic knowledge then definitely he/she will comeout with a decent return from forex market

  3. #13
    Quote Originally Posted by Jamuna View Post
    I am completely newbie and trying to gather the required knowledge and skill from this forum. This educator is very important to me and I am able to learn new things from this educator. I think, good trading strategy is very important to become gainer in this profession and trying to create my own proved strategy. This educator will help me obviously.
    For new traders learning is always very much critical to get started in the forex trading business and for other traders who have some experience in the forex market, updating their knowledge is on priority checklist to ensure that they are trading with their money well managed. Money is the most important asset.

  4. #14
    Of many other vital things we need in forex trading, to make and keep your checklist up to date is very important. But checklist in forex is never ending as there are many things you need to keep an eye on. ts, however a good idea to make a checklist for your convenience.

  5. #15
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    Quote Originally Posted by ATHAR View Post
    Of many other vital things we need in forex trading, to make and keep your checklist up to date is very important. But checklist in forex is never ending as there are many things you need to keep an eye on. ts, however a good idea to make a checklist for your convenience.
    true what you say that makes a list of trading rules I think will be very important in this business because after all we should know that in forex will be making will be successful if we can know the correct rules in this trade and then run our rules with more well so when it can be running any of the rules properly then this will enable us to succeed in this business

  6. #16
    yes there is correlation between the currencies in the forex market. As we can see the EURUSD and the USDCHF always in the opposite direction, NUZUSD and AUDUSD always move almost with the same direction, GOLD and SILVER also moves almost in the same direction and also there are many pairs which are correlated with another. The trader should to focus on these pairs.

  7. #17
    Checklist varies from trader to trader. The things which are important for your trade might not be equally important for me. To put all those things which you consider are damn important when written forms your checklist.

  8. #18
    well i think that what we as traders see at the trading charts is just the market activity of several currency if not all as they interact between each other and so prices show us the equilibrium point of this fight as from what i know is that currencies are the ones that trade and it is not the trading pair as we many traders think thus it is good to see what the EUR is doing other than just EUR/USD

  9. #19
    Traders' checklist should include all the necessary elements such as 1) strategy: The type of strategy you are using. write it down in your checklist 2) Risk analysis: Analyzing risks are very important as risk haunts the trade. 3) Profit margin: Focus on possible profits rather than building castles in the air.

  10. #20
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    i did trading with use EURJPY, GBPJPY and USDJPY, because they have same correlation with build a same pattern, and it made me easy to analyze the market, but GBPJPY has strong volatile than the others,
    and for EURUSD, i used it a thing to compare them, i got the experiences and some conclusion, if eurusd moved down for 10 pip, so eurjpy will move down more than it and even more for gbpjpy

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