Forex market is extremely volatile in nature. The pro-Aussie traders always place a trade with an extreme level of accuracy since they know the associated risk factors in trading. If you make a single mistake you have to pay heavily. Most of the novice traders don’t understand the importance of proper education in Forex trading thus they trade with a big lot. It’s true if you trade with big lot size you can secure some decent profit but considering the long-term scenario, you are jeopardizing your trading career. But if you don’t educate yourself with the proper knowledge of the trading industry, you are not going to become a professional trader. You have to understand the fact knowledge is power. As a new trader you might not understand all the details of this market but if you take some professional course everything will be crystal clear to you. Today we will give you some amazing ideas which will help you to deal with the dynamic nature of this market.
Avoid the using the indicators
If you want to make a profit even during the extreme level of market volatility you should never use the indicators. Most of the pro-Aussie traders use the price action confirmation signal to trade this market. But learning the price action trading strategy is not so easy. You have to deal with lots of variables. But there is nothing too afraid of this system. If you do the math and learn the psychology behind the formation of each candlestick everything will become extremely easy. But make sure you are not overloading your trading chart with tons of indicators. If possible take some professional trading course as it will enhance your profit factor. But always remember to keep your trading chart clean since it will help to take better decision.
Avoid trading the news
The novice traders are always busy with their Forex trading account Australia during the high impact news release. News trading is one of the most difficult tasks in the Forex market. The novice traders don’t even know the perfect way to trade the news. They place their trade prior to the high impact news release and loses a significant portion of their investment. But this the not perfect system to trade the high impact news. You need to assess the fundamental data and based on that you need to take your trade. If possible do the multiple time frame analysis so that you can easily avoid the false trading signals. Many novice traders have blown their trading account during impact news trading. If you want to avoid such situation you need to focus on the risk management plan. Never take too much risk since no one knows the outcome of each trade. Always try to follow the conservative way of trading.
Trade with the reputed broker
As a retail trader, you must trade this market with a reputed broker like Saxo. During the event of high market volatility, it’s almost impossible to trade the market with the extreme level of accuracy. In such case, if you trade the market with the low-class broker you might have to experience huge slippage. For this very reason, the expert Aussie traders always suggest the novice traders trade this market with a quality broker firm. Some novice traders might say that they don’t know any professional brokers but there is nothing to worry. If you do some research you will find many quality brokers willing to offer you high leverage trading account.
Without having the strict discipline it’s almost impossible for you to deal with your losing trades. If you truly want to trade the news make sure you have proper knowledge of the price action trading system. Try to learn to trade by using the demo account. If you can make a profit for six consecutive months, you might switch to the real trading account.