The US30 which is often known as the Dow Jones is extremely volatile. People are biased about the currency trading profession, but if you take the time and try to improve your skills with a conservative approach, you will learn to focus on the core elements of trading. Taking too much risk and trying to become a millionaire is not going to work. You have to choose a volatile asset that will provide a huge profit-taking opportunity. This is where US30 or the Dow Jones index comes into action. If you see the volatility in the Dow Jones, you will think the currency pair movement is very stable.
So, how can we trade the US30 like a pro trader? Go through this content as it will act as a precise guide and you will be able to take trades with zero issues.
Examine the volatility
You need to examine the volatility of the US30 before you think to trade the market. The minimum lot to trade the US30 is 0.01. But this is not like a traditional currency trading lot size. For each pip movement, you are going to experience a $1 profit or loss. On average, the price movement of the US30 is near about 500+ pips. At times, you might experience 2000+ pips movement in a single day. You might be thinking that this it is not all possible but have look at the historic price movement. Some brokers don’t provide the US30 instrument to traders. Navigate to this website and open an account with Saxo to see the historic price movement of the US30. Spend a few days studying the live movement, you will be more than happy to see the extremely volatile nature of this market.
Learn to use wide stop loss
To trade the US30, you must have the courage to trade the market with a wide stop loss. If you fail to trade with a wide stop loss, it will be impossible to survive. The slight fluctuation in the price will hunt down the stop. Even if you use the price action signal, it will be a tough task to manage the risk exposure while trading the US 30. Once you become good at analyzing the price dynamically, you will be able to change your life by taking the trades in the US30. As a currency trader, you have to focus on the core factors of the market. This will allow you to trade with discipline. Take your time and try to improve your skills over the period. After you become good at trading, you can boost the profit potential make a decent profit without having any issues.
Develop a robust trading method
US30 traders must create a robust trading method. Using a traditional currency trading method is not going to work. Your trading method must be well equipped with advanced risk management policy. At times, you might lose few trades in a row. Try to develop the system in such a way that you can always take the trade along with the trend. If you can take the trade with the major trend, you will feel more comfortable and it will allow you to make a big profit without any trouble. After you start taking trades in the US30, you will realize the importance of trend trading strategy. Sooner or later, you will feel that using the trend trading method is the only way you can survive in this business.
Conclusion
Taking trades in the US30 is a very tough task. But if you can master this technique, you can expect to make millions in profit. Most importantly, you will fall in love with this trading instrument. So, learn to trade the down jones if you truly want a taste of a high paced trading environment, navigate to this website