How to Entry and Exit in the Forex Market

The spread of COVID all over the world, many people have lost their jobs. One of the things taken is deciding to trade. Trading is becoming popular especially among millennials. Many millennials decide to trade because they are tempted by the profits that can be obtained. However, many also fail to trade because they do not know how to enter and exit the forex market. In trading, it's not just buying and selling. Traders must know how to enter and exit the forex market. How to? This article will discuss how to enter and exit the forex market.

The first step that must be known is the analysis step in the form of trends, important levels and triggers.

1. Trends

Traders must identify the ongoing trend to get maximum results. Difficulties will be faced by traders if there is no good understanding of the trend. Unfortunately, this trend is dynamic and fluctuating so it will continue to change from time to time, from uptrend, downtrend to sideways. Not only knowing the current market trends, it is also important to recognize potential changes in market direction so that later you don't take the wrong steps. Sudden changes in direction can occur so traders must remain vigilant.

2. Important Levels (SNR and Retracement)

Important levels need to be put to good use. Because this strategy is the easiest to implement. Profit opportunities by using the strategy will be greater. Important areas that can be taken are the nearest SNR (support and resistance) area and the retracement or correction area.

3. Trigger

Trigger trades can be thought of as lines in the sand that determine exactly when a trade will be entered. Unlike filter trades which can cover a variety of factors, trigger trades tell the trader exactly when to act. Trigger trading should be strictly objective and clear in the trading plan. There should be no room for ambiguity.

Watch the video below for more complete and detailed information!

Notes:

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