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There are plenty of many Forex books online that teach newbies how to trade using the levels of Fibonacci, Elliot Wave, etc. Of course these ebooks are very good for any new Singapore trader, but the problem is that the writers of these books give 100% guarantee that if you do as they say, you will make profit.
Unfortunately the reality is not so easy and to justify himself in the loss, a trader begins recklessly recall all his steps in order to make sure there is a reason of his mistake and loss. Someone may has forgotten to take into account a very important indicator while opening a trading positions, another one has miscalculated the Fibonacci levels – and now such traders are making a sad conclusion: “No, the financial trading is not for me…” And of course everyone who thinks this way is wrong, as Forex in Singapore has many systems and some of them are very easy like trading with reverse orders that can give you more than 500 pips monthly.
The advantage of trading with a reverse orders method is that you have a good chance to catch the market disregarding of its direction. I suggest many of you have faced a problem when you predict the direction of the market and open a trading position. But the market heads against you and your position is closed by stop loss order with a loss. And after that the market changes and goes your direction. How angry we are when it happens.
In order to diminish the chances of losses in such situation a strategy of reverse orders was invented. It is a very simple trading strategy and every newbie trader may apply it. What you need to do is when you open a position on Buy instead of stop-loss level after 25 points you place a position for Sell. The same you do for a position for Sell, you protect it with a position for Buy. The fact is that you don’t use a stop loss and if the trend goes against you, you will still stay in the market.
By using this strategy you have a opportunity to correct your trading position any time despite of the market’s direction. The correction works the following way. If one of the orders got a profit of 10 points you should open another order in this direction. This method will let you to minimize the losses. When you have three positions (two sell and one buy) where in overall you are in profit you can start closing the profitable positions if you see that the market turns and takes another direction. Trading this way allows you place many positions and you can also use high leverage for it. This trading method may be uses on any platform and with all Singapore brokers.
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