Importance of long term prevailing trend in Forex trading

[adamsmiths]

In every profession, the successful people have some famous proverb to say to their followers. Similarly, in Forex trading, there is a saying “Trend is your friend”. Whenever you are trading in Forex industry, you will always hear this saying. There is a reason why traders say this. The traders in Singapore are doing excellent in the Forex industry by following this simple proverb. In our article, we are going to explore why traders like to trade with the trend.  This market is very volatile and the only thing that can help you from losing your money is the trend of the market. If you do some research then you will find that most of the people are losing money due to their lack of trading knowledge and counter trading. If you want to succeed then you need to find the market trend and trade along with it.

The trend is your friend: What does it mean?
You may have been probably wondering what it means. This is pretty simple and you do not need to ask the traders as we are going to tell you. The trend tells you where the money is in the market. If you trade the market at the wrong time of the trend, you will lose all your money. This market is open for every day does not say you can make money at any time. If traders can make a profit at any time of their trading session, they can easily make thousands of dollars in the market. Also, if you do not enter the market at the right trend, the market may be dry of money. When you are placing trades, you are also investing money.

If you pour a drop of water into a dry cloth, it will suck that up. This will happen to your money when you trade in a dry market. The trend is the only thing that is going to tell you what is the dominant power in the exchange traded funds, where the market can go and where the money is. Do not give a big smile showing your entire tooth as it will not tell you everything. You are still going to need your analysis of the market. A lot of traders only think of the trend is the indicator of the market price level. Your friend can only help you when you give him the tools he lacks. If you tell him to help you, he can help you but not much with without having any tools. The tools that you need to utilize the full advantage of the trend are by using your analysis.

Daily time frame analysis
The new traders in the online trading world tend to analyze the market in the lower time frame. But in order to find the existing trend, you need to analyze the daily time frame. Though there are many are traders making a decent profit using the lower time frame but still, you need to trade the higher time frame at the initial stage. At the beginning of your trading career, you need to learn to become a long term trader. Once you gain enough experience in this industry you can switch the 5-minute time frame to scalp the market. Yet you should always remember to trade in favor of the trend even though you might be using the lower time frame.

[kalvinbrown]

Thanks, very useful information. Just what I needed.

[davidwest]

I’m a beginner in Forex and I’ve been searching for information about it. This is just what I need right now. I didn’t know about this saying “Trend is your friend”. After reading this text, my first thought was that I should be more careful and I need to take it step by step. The risk is great in this business, if I may call it this way. First, you have to be ready for losses, then you need to find trusted sources of trading. It’s a good thing that I stumbled upon some reviews of forex trading platforms. That will also be very useful to me. All in all, I think I may succeed in this domain. I’ve got patience, now I have to learn everything.

[AlexHales]

As a trader, it’s extremely vital to follow up with the trend because that is the way we will succeed. I work with FreshForex, where they have superb Market Analysis to help with working and spotting the right direction and trend.

[Lmaomen1]

I’m a beginner in Forex and I’ve been searching for information about it. This is just what I need right now. I didn’t know about this saying “Trend is your friend”. After reading this text, my first thought was that I should be more careful and I need to take it step by step. The risk is great in this business, if I may call it this way. First, you have to be ready for losses, then you need to find trusted sources of trading. It’s a good thing that I stumbled upon some reviews of forex trading platforms. That will also be very useful to me. All in all, I think I may succeed in this domain. I’ve got patience, now I have to learn everything.

Could you tell me some more information about it? Let’s talk in PM

[ICOselector2018]

It’s obvious that long term planning is must because it sets you to the right direction. But it is obviously challenging too and it is where hard work is so crucial. My path always is to plan well and focus on execution equally, as this is where you move to better zone as far making decisions are concern.

The additional part for me is through FXGiants, as like their name says, they are indeed giants with very high quality service and features which helps with moving to the right direction in the market.

[Basc78]

Thank you for that information. Quite useful!

[AlexHales]

It is vital to follow up the trend to be able to win consistently, and I try to do that only. I work with FreshForex, where they have an awesome Market Analysis to help with working. It’s how I can perform well and achieve worthy results in this gigantic industry that is Forex.

[Marinad123]

The long term Forex strategy involves holding on to trading positions or other securities for an extended period of time. This style of market participation is popular among some traders as well as among investors. ... This indicator is used to identify and analyze the dynamics of long term trend

[Marinad123]

I am glad that this topic is interesting to you. I also earn in the field of trade and do not regret that I chose this way of earning. the modern market is developing rapidly and opens up great opportunities for everyone. the most important thing is to find a good broker, a https://nsbroker.com/desktop-platform reliable platform and put in a little effort. I have a stable and high income and I do not want to stop there. I'm sure you can achieve great success too

[usmi7]

The importance of the long-term prevailing trend in Forex trading stems from the fact that currencies are traded 24 hours a day, five days a week. As a result, short-term price fluctuations can occur at any time, and it is essential to have an understanding of what is driving the market in order to make informed decisions about when to buy or sell.

The long-term prevailing trend can be identified by looking at the overall trend over a period of several months or years. This gives you an idea of where the market is heading and provides a framework within which you can trade accordingly.
For more info i will recommend consulting with trading expert or an Author for Investments, who know everything about forex trading and can guide properly about this. i hope this will help. lg

[WarrenBevan]

Forex trading is good but crypto trading is more good cause here there is no vanish system so if you do crypto trading by a good signal service then you wont loss your money. For a better signal provider you can get in touch with Altcenter as they are very very reliable.

[himijef560]

As far as I know, the Singapore Forex market is very good for beginners, and trading there can be quite productive. However, as a future prospect, I recommend also considering the Dubai Forex market https://bmmagazine.co.uk/business/forex-trading-in-dubai-how-it-works-with-global-currency-markets/ . The resource Business Matters is particularly helpful in providing information, as it includes a guide with key steps for starting trading, as well as insights into nuances like obtaining a license, opening a trading account, and so on.