Do you know the problems that most of the traders in Forex have? Many of them think that the market has a randomness. They think, there is no need to waste time on analyzing this market. The signals of the markets are always moving up and down. Even a child can understand the Forex market. All of these sayings that you need a lot of analysis of the market, have to build your own strategy and plan a risk management in the market is all lies. The market is always moving upward and downward. If we place trades on the market, if the signal is even in our odd, still we can win the market. This market is random! There is nothing to the analysis. It’s a random market of the random signal.
In real life trading, 95 % of traders in the market get gutted. The forex market has no randomness. Though in clear eyes, it can be seen as a very simple graph where the prices are going up and down every time, there are a lot more than to it. You have to understand the market and develop your trading knowledge you understand, there is really no randomness in Forex. Every movement of the market is predetermined by the actions of the past. For example, when the prices of the currency fall to a large level in the graph, it falls because the economy of that currency has experienced a major event in the country. It does not stay forever. The economy stables itself and again rises up. That is when the price level rises in the market. Only new traders and people who do not have any idea about the market can say such a thing.
Perfection of the market
If you are still finding it hard to believe, you can check the statistics in the forex trading industry. You will be surprised to see that, in a market where randomness prevails, only 5% traders are successful. Don’t you think the number would be greater if there was really randomness in all of the Forex market? These numbers are a statement that there is no randomness in Forex. Whenever there is a change in the price level of the currency, there is a definite reason behind it.
Since the market is not random the professional Singaporean traders always use a robust trading strategy to find the best possible trades. They simply rely on simple trading technique to trade the live assets. Unlike the experts, the novice traders trade with complicated trading strategy and lose a huge amount of money in this industry. If you are relatively new in trading then you should learn the dynamics of the market and then trade the live assets.
Though there are many different kinds of trading strategy the expert traders suggest the novice traders follow price action trading strategy. This system is one of the most reliable trading systems in the world based on the formation of Japanese candlestick. The expert traders trade the key support and resistance level with the highly reliable candlestick pattern and make a decent income in every single month. It's true that if you are new than mastering the price action trading skill will be a little bit hard for you but if you stick to it then within a few months you can just trade like the expert traders.
Conclusion: Do not trade in Forex based on your belief of randomness. Trade in Forex logically and with practical knowledge of understanding how the market works. Try to develop a solid trading strategy and use price action confirmation signal to trade the key support and resistance level. Never trade the market with high risk rather focus on risk reward ratio on every single trade.