I have traded currencies for years. I’ve been through the ups and downs. I have also taught many traders how to trade, and I know what it is like to watch people struggle with trading concepts. So in this article I want to give you two very simple trading tips that can literally change the way you trade.

Tip #1: Use Multiple Time Frames

Maybe there is a period of time that you like to trade. It can be 15 minutes, 1 hour or 4 hours. It doesn’t really matter, but you should have a single time frame that you use to time your ins and outs.

But many traders forget that they can (and should) use other time frames to identify major market moves.

For example, every day before you trade, you need to find the daily trend. In essence, you need to see which way the markets are flowing and go with the flow.

To do this, you need to switch to the daily charts. Now if you are trading on the daily charts, move up to the weekly or monthly charts to find the trend.

The purpose of moving forward one or two time periods is to get a general picture of the market. Then go back to your chosen time frame and set your entry and exit orders.

Tip #2: Trade a currency

Especially as a beginner, you need to pick a currency and stick with it. Many people choose EUR/USD or GBP/USD. You can even choose EUR/JPY or GBP/JPY. Simply choose a currency you will be trading and stick with it.

Believe it or not, each coin has its own personality. Because? Because each coin represents a particular country or region. So it causes these economies to be affected by different stimuli, and you have to understand what affects his badge.

Sure, your coin may not move while the one there does. He will be tempted to switch currencies (at least temporarily) to catch the move.

I have 3 words for you: hold on.

Do not change. You may miss a move or two, but if you stick to your currency and learn it inside and out, then making money in forex will become second nature.