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What are the skills and precautions for ultra-short-term foreign exchange trading?
1. Grasp the trading time: ultra-short-term trading will not last long and will not affect the rest time of traders. Ultra-short-term trading requires traders to keep an eye on the market in a short time and keep abreast of market changes, so it is necessary to arrange specific trading time. 2. Appropriate selection of trading products: If ultra-short-term trading is to be profitable, it is necessary to choose a market period with relatively large fluctuations and choose a potential hot product for trading. If you choose to trade unpopular products, there will be no obvious fluctuations in the market in a short period of time, and there will be no gains. 3. Improve technical analysis skills: Because the short-term trading time cycle is very short, fundamental information basically doesn't work, mainly relying on technical analysis ability in a short time. Traders need to analyze and judge through technical indicators in a short time to find the right entry point and enter the transaction. Therefore, ultra-short-term trading is suitable for experienced foreign exchange traders who have some experience in the foreign exchange market and have mastered several technical indicators used, but not for novices who have just entered the foreign exchange market. 4. Grasp the principle of buying up and not buying down: when trading in ultra-short term, the first thing to consider is the probability of profit, so try to ensure the principle of buying up and not buying down when trading. It is wrong to buy only the highest point in the rising process, and only the lowest point in the falling process is correct, so try to buy up when trading in ultra-short term. 5. Set a stop-loss point: It is very important to set a stop-loss point in ultra-short-term trading, because it is a very necessary step to choose ultra-short-term trading when the market fluctuates greatly and the price is high. You want to make a lot of money and at the same time bear great risks. In addition, in the process of trading, if you encounter a sudden reversal of the market, you should not hesitate to close your position immediately.