The professional traders always love to trade the active trading session. Trading the active session provides more profit-taking opportunities since the market stays extremely volatile. With some minor adjustment of the trades, the traders can easily execute high-quality trades without having any trouble. Some of you might not have any idea what the active trading session is. The active trading session is nothing but an overlapping trading session when the market stays extremely volatile. Read this article carefully, if you intend to trade the overlapping session like a pro trader.
Trade the major pairs only
To make consistent profit, you need to focus on the major pairs only. Trading the minor pairs increases the risk to a great extent and it becomes nearly impossible for the retail traders to earn consistent profit. Though the professional traders often trade the minor pairs in the active trading session, still you need to focus on the major pairs as it greatly reduces the risk at trading. Think about the long term goals when it comes to the retail trading business.
Stop focusing on the complicated market structure and focus on market volatility. Try to trade the currency pairs associated with the mighty U.S dollar. So, what about the trading session? Selecting the trading session is fairly easy since you can rely on the New York and London trading session. However, some of the traders in Hong Kong often trade the Asian trading session since it offers them decent profit-taking the opportunity.
Start using the major news
The pro traders love to trade the options trading industry since they can easily take advantage of the major news and make a decent profit. Trading the major news is one of the most efficient ways to make a profit from this market. You can buy stocks with saxotraderpro. As a naïve trader, you should think about the long term goals so that you can make a profit in the long run. Forget the fact, trading is all about focusing on the high impact news. Start with the medium to low impact news so that you can make big profits from this market. Think about the long term consequences so that you can easily change the profit factors based on the trade setup. Never think you know all the details of this market since learning is a never-ending process. And when you focus on the major trading session, you must stay tuned with the major news release or it will be really tough to make a decision at trading.
Develop a unique strategy
To trade the overlapping session you need to develop an intraday trading strategy. Without having an intraday trading method, it’s really hard to make a profit from this market. The naïve traders are always trying to make a profit with the traditional trading method. But things are not as easy as it seems. To beat the market, you need to have a very unique strategy. And when it comes to overlapping trading session, every data counts. You can’t afford to ignore the major news as it will significantly reduce the profit factors at trading. In fact, you will lose most of the trades by using a traditional trading method.
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Focus on your risk management policy
Once you learn to trade the major asset during the overlapping trading session, you will feel confident and start taking excessive risks. But this is a very deadly mistake in trading. If you want to survive as a currency trader, you must learn to trade with managed risk. Stop trading the market with high risk even though you will have the unique ability to pick the right asset. Focus on the simplified approach to trading. Forget the fact, trading is more like pushing yourself to the extreme limit. Try to stay calm when you analyze the market data and trade this market with strong logic so that you don’t have to lose any trade.