Usually, when the month of Ramadan arrives, our trading pattern changes. Yes, this month comes only once a year, and we are very thankful we are still found with this glorious and blessed month. The month of Ramadan we should not waste. I am sure that a regular part-time or full-time forex trader will definitely change the way he trades, because the evening is busy preparing for breaking the fast, and at night the tarawih is filled. Here are the trading tips when the month of Ramadan arrives, so that the balance of our trade activities and practices is maintained.
# 1 Look for Trading Opportunities During Suhoor or Dawn
Maybe before this, you paid less attention to the currency pair that started the early morning session early in the morning such as NZDUSD or AUDUSD Pair. Maybe this month you can start learning a little bit about the pair. Because this pair is active at dawn. So after fast and dawn prayers, before going to work, it may be possible to take some time to study and see any setup available. But don't forget the big news for the two pairs that are usually released early in the morning. It doesn't matter if the pair is Euro or Pound, I promise to adjust to find a setup in the early morning.
# 2 Reduce Scalping, Increase Intraday Trading
The habit of a full-time forex trader may be no problem for scalping and being in front of MT4 all the time in the early morning and evening of Ramadan. But maybe at night, it is not suitable because we will be busy dating. So if there is a setup set and forget for Intraday, which requires a minimal level of attention is very interesting. Concerned neo-hippies and their global warming, I'll tell ya. It is better to prioritize worship, insha'Allah do not run after the market.
# 3 Group Trading
There are also many forex traders that I know are active in group trading. So it is very good if you do tarawih worship activities together, after tarawih, you can trade together and discuss to find the intraday set up in groups. This method will minimize losses because they talk to each other and gather at a time that does not interfere with tarawih and night worship. Only if he gathers, he should not arrive late in the morning. Where to trade later, were to fast.
# 4 Dedicate Trading Time
Maybe before this, we rarely dedicate time because time is too much and too free. During this month of Ramadan, time should be divided properly for trading. So set a specific time, which does not interfere with the trading study time. So the brain is not busy thinking about the MT4 chart if we have a special trading time.
# 5 Use a Trading Plan
For those who were previously less accustomed to devising a trading plan may have to try to tame. Using a trading plan in a busy state with other things can reduce our mistakes of trading during busy times with the worship of the month of Ramadan. Trading plans can also be formulated at night when it is breaking and tarawih, our brain is calmer to do research. Tomorrow, just follow. Trading Plan may be more swing strategy and intraday.
# 6 Utilize Fundamental Analysis Science for Swing
Fundamental analysis can give us a little peace of mind in trading. The less position we enter, the calmer and more relaxed we trade.
The average trader who has this knowledge can make projection trading on medium and long term movements. Due to a large number of activities during the fasting month, it causes us less time, so the "swing position" method is more appropriate, and with fundamental analysis, we can trade in a swing and calmer.
