Mmmm… if this were true… how come the majority of retail traders buy high and sell low? Is it because, dare I say it?, they haven’t hear the secret of "buy low and sell high?.
Is it ok to say that? I don’t want to be blamed for letting the cat out of the bag! You know, the magician who shows you how the trick is done.
The only way to know the secrets of forex trading is practice yo u do. It should be first on demo then on live account. As much you will be focused and updated you will know new things in market and also know how to deal with different situation by using tips and tricks.
There are no golden rules and secrets, you need to constantly monitor trends and try to match them, that’s the truth about trading. And you also have to work and not try to guess or risk. The market does not like it very much…
The special secret is: there are no shortcuts to becoming good. Whatever strategy you are trading, you are gonna need to invest, time, patience, love, dedication and curiosity.
there is a reason that there are what they call hedge funds, they hedge, there is also a good reason why us persons cannot hedge anymore, at least not easily, because that’s where the lowest risk is, and while most traders who would hedge, don’t hedge UNTIL they are in trouble, while that may seem the way to save yourself, position that’s in huge DD, but the reality is that if you hedge up 100%, then you are just locking in all that DD. The smarter thing to do, think on this, long and hard, is to hedge right off the get go! and buy one and sell one same size at the same time, and thus you are locking in small DD, in the amount of the spread.
now imagine, you put on 2 orders in eurusd, each 1.0L, one long and one short, less than a pip apart.
NOW, you wait! for the price to change say 50-100 pips or some other preset pip amount and set this as a TPT, if the profit stop hits you have now banked 1.0L x 50 or 100 pips or whatever your tpt was set to, you set it on both orders, eventually one of the orders has to exit in the $, no stop losses!
so as soon as one hits your tpt, you will have banked say 50 pips, BUT you are DD 50 pips on the order that is still on.
I will take banked pips anytime and am willing to take 100% DD of banked profits.