Forex Trading Tips in Ramadan

Trade Forex in Ramadan, What Tips You Need To Know To Stay Profitable?

Habits when the month of Ramadan arrives, our trading patterns change. Yes, this month only comes once a year, and we are very grateful that we are still found with this glorious and blessed month. Let's not waste the month of Ramadan. I'm sure forex traders who are usually part-time or full-time will definitely change their way of trading, because the afternoon is busy for breaking supplies, the night is also filling in for taraweh.

ramadan forex tips

Here are trading tips when the month of Ramadan arrives, so that the balance of our trading and worship activities is maintained.

#1 Look for Trading Opportunities During Sahur or Fajr

Maybe before that you paid less attention to currency pairs that started early in the morning, such as the NZDUSD pair or the AUDUSD pair. Maybe this month you can start to study a little about the pair. Because this pair is active at dawn. So after sahur and dawn prayers, before going to work, maybe you can take a little time to observe and see the existing trading setups. But don't forget the big news for the two pairs which are usually released early in the morning. Even the Euro or Pound pairs, adjust the look for the setup in the early morning.

#2 Less Scalping, More Intraday Trading

The habit of a full time forex trader may not be a problem for scalping and being in front of MT4 every morning and evening during the month of Ramadan. But maybe at night it is not suitable because we will be busy praying. So if there is a set and forget setup for Intraday, one that requires minimal attention is very interesting. Because he was nervous, while praying, his eyes even looked at MT4. It's better to prioritize worship, God willing, don't run away from the market being chased.

#3 Group Trading

There are also many forex traders that I know are actively trading together. So it's very good if you do taraweh worship activities together, after taraweh and 'ngap' moreh, you can trade together and talk to find intraday setups together too. This method will minimize losses due to talking to each other and gathering at a time that does not interfere with taraweh and night worship. Just don't get together if it's past morning. Where to trade later, where to eat breakfast.

#4 Specify Trading Time

Maybe before this we rarely set aside time because we had too much time and it was too roomy. In this month of Ramadan, time needs to be properly divided for trading. So set a certain specific time, which does not interfere with the time of running a trade. So the brain is not engrossed in thinking about the MT4 chart if we have a special time for trading.

#5 Use a Trading Plan

For those who were not used to framing a trading plan before, they might already need to try it. Using a trading plan in a busy state with other things can reduce our mistakes trading at a busy time with the worship of the month of Ramadan. That's the importance of having a trading system and a trading plan that may also be structured at night, when it's time to break the fast and pray, our brains are calmer to study. The next day just follow. The Trading Plan may also be more of a swing and intraday strategy.

#6 Use Fundamental Analysis for Swing

Fundamental analysis can give us some peace of mind in trading. The fewer positions we enter, the calmer and more relaxed we trade. The average trader who has this knowledge can make projection trading on medium term and long term movements. Due to the large amount of activity in the fasting month, it causes us to lack time, so the "swing position" method is more suitable and with fundamental analysis, we can trade swings and are more calm.

Finally, my family and I wish you a Happy Ramadhan Al-Mubarak to all Forex Traders throughout Indonesia who read these tips. Hopefully we can benefit together. May our sustenance and trading in this month of Ramadan get more blessings.

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