Did you follow the book ‘Market Profile’? Since the transparent blue box is similar with the one I see in this book.
Now I can understand your idea trading. It’s a nice trade.
Thank you very much for your explanation again!
Well yeah it is buying and selling at its core just as you would if going on holiday abroad. However, if trying to trade it then the same as any trading you need to think about probabilities of what price will do and how you can raise those probabilities in your favour. That is where trading becomes more difficult.
And it is also best to keep your strategy simple and basic, this will make the market less complicated and easy for you.
Buy low, sell high is the gist of trading. But it’s not something that can be mastered in a day or two. Market analysis, Strategic planning, timing and risk management are some of the essential aspects of forex trading. But there’s more to it including trading psychology which you will discover later on. Placing a buy/sell order is a simple task. But the planning that goes behind the scenes is not that simple.
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Facts. You’re either a shark, shark bait, or doing random shi*. Only one works. As far as the rest, discipline, risk tolerance etc…you work that out over time once you know how the sharks operate first.
To be honest, for me Forex is more than buy & sell! Right now, I am using this money earning opportunity as my 1st way of earning!
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Hello Sir , I’ve been learning forex for a Year now and basically i have no strategy i just have this demo account that i try to trade on , So my simple strategy is i sell when i feel the Market is going downtrend and i buy when the market is heading upwards ,I dont know if that make sense , I’m sorry .
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I agree with you
Thank you Sir
Hi @Fatawu,
I was the same when I first jumped in FR market. This simply strategy could be profitable one but we can’t go long with this because we don’t know when the price will change itself. I have moved to higher time frame such as H1, H4 and D1 to monitor the market (before I just used M5 but it’s supper noisy) and I try to stick on supply/demand or support/resistance zone to trade. There are many strategy on Babypips courses or books or YouTube, let find out the one that suit to you and follow it. One of the good book that I have read is ‘The Candlestick Trading Bible’, you can try it.
Hope it help and good luck!