The pro traders never trade the minor levels. They are always focused on high-quality trade execution. Unlike the naïve traders, they don’t push the risk factors to increase the profit. Trading is more like finding the perfect trades with managed risk. If you want to save your investment and trade like the pro traders, you must focus on the major support and resistance level trading strategy. You might the novice investors in Singapore but the market doesn’t care. Unless you have the right skills to deal with the complex price movement, you are going to lose money. Let’s learn a simple way to trade the major support and resistance level.
Trade the daily time frame
You must trade the daily time frame or else it will become hard to make a consistent profit. The naïve traders are losing money since they focus on the lower period. Though a lower period can give you access to frequent trade setup, it’s not going to work in the long run. Start analyzing the daily time frame. Once you learn to draw the key levels in the daily time frame, you can expect to make a big profit. Make sure you are connecting three points at least while drawing the critical trading zone.
Trade with price action signals
The professional traders in the CFD trading industry always trade the market with price action signals. They never execute random trade since they know the outcome of any such approach always results in heavy loss. Learning to analyze the price action signal is not all hard. The majority of the retail traders find it hard since they don’t use the demo account. But if you start trading the price action signals in the demo account, within a few months, you can easily develop your skills. Never think you can beat the market without following the conservative trading method. Focus on your demo trading skills and try to master the price action trading technique.
Learn multiple time frame analysis
By learning to analyze the multiple time frame data you can easily boost your profit factors in trading. Those who are trading the market with the conservative trading technique knows the importance of multiple time frame analysis. You might be new to the trading industry but it doesn’t mean you will be taking too much risk in each trade. Analyze the different time frame data so that you can find the best possible signals. Though multiple time frame analyses might be boring at the initial stage it is the only effective way to make a profit from this market. Take your time and try to focus on long-period data. Once you become good at multiple time frame analysis, you can trade the key support and resistance level with precision.
Risk management policy
Trading the market with low-risk exposure is the most effective way to make a profit. Those who are relatively new in the trading business are always taking high risks. They don’t know the perfect way to reduce risk exposure. They are using the high leverage account and trying to become a millionaire. But to trade the key support and resistance level like the pro trader, you must learn to analyze the risk factors. Instead of taking too much risk in each trade, follow the conservative method. Start learning more about the risk factors so that you can make a profit without having to lose a big sum of money.
To trade the key support and resistance level, you must have strong will power. Unless you are following the basic rules of the investment business, you should never trade with high risk. Follow the footstep of the successful traders and try to trade the market with long term vision. And never try to earn money by using the shortcut. Consider this as your business and you will succeed at trading.