I think that one should analyze every situation on the market before opening a position. That way even unexpected movements do not necessarily become a bad thing.
Just sharing
What could you learn from this video?
Trade safe and prosper.
Just sharing
Chasing the markets can be perilous. If you want to effectively trap the markets, you don’t wait until the markets open. You don’t do it during the markets. You do it in a disciplined way involving pre-market opening analysis and define clear conditions and criteria which price action must meet as you wait for the markets to meet them.
Trade safe and prosper.
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You have two ideas competing to be the solution to a particular problem or objective. Be explicit with what the deciding factors are. Backtest thoroughly for a conclusive result.
John
We don’t count on luck.
Yes, testing alternative approaches or solutions is important. As is using appropriate criteria in the testing.
Trade safe and prosper.
I am new to his forum but not new to Forex. Only one thread brought me here, but this seems to be a very nice forum for interaction. Today I have learned that when a Forex pair moves swiftly to a new high, it usually in most cases bounce back a little within 14 hours. How frequent does that happen and how do I take advantage of it? The tendency of a pair bouncing back depends on what caused it to spike in the first place and whether there is a news event scheduled to take place within the hour that would affect the pair. So I have learned to pay attention to multiple news events in one day.
Very good observation. However, beware of the time frame you are watching. If you are watching an intra-day or low time frame you may be sold a dummy. Yes, you can get good results with daily, weekly and monthly time frames.
Trade safe and prosper.
Just Sharing
I will learn daily and be master of my trade.
What’s the first thing you look for when you open your charts?
A lot of hype has been made about screen time. That a trader needs a lot of screen time. Really? If a trader spends a load of screen time without being focused on specific things and without identifying and assessing how they are progressing, is that what screen time is about? Imho, the emphasis should be on quality and focused screen time demonstrated in improved competence as a trader. What do you think?
Trade safe and prosper.
Getting skilled in structure-based trading is one such route to take.
Trade safe and prosper.
Presently I am taking a short break, I have suffered too much loss and now want to learn it more so that I could improve my trades further,
A very wise decision. Wishing you success in this. Hope you learn to trade safe and prosper.
Yeah, it is better to know that when to have a short break and when your trades are not improving. Thus I have taken a short break to learn the Forex Trading and improve my trades.
That’s nice. Thank you. It can be supportive for avoiding unfortunate loss in particularly the market moves at random.
Taking pauses destroying my trading completely because I get lost in traders sentiments (i.e. where the crowd goes and what expects), as every piece new data may drive the market literally in any direction. And its hard to catch up with latest news quickly it takes time, maybe several days of watch Hotforex calendar and analyzing events.
Well, I’m getting lazy.
What i would do differently today for better trading results would be to
- collect statistical data everyday.
- backtest and analyse my data everyday.
- read the news everyday
If only i have all the time in the world!!!
and infinite stamina…
Good preparation, thorough market analysis, preparing a trading plan for each trade you intend to take and waiting for the right moment to strike will help you minimize the problem.
Trade safe and prosper.
You don’t need all the time in the world. Just focus on the few data that help you understand and trap the markets to gain the edge.
Trade safe and prosper.
I know, problem is i’m too greedy and ambitious. I aim to be the best trader the world has ever seen. Perhaps, i have compete in forex contest for too long a duration. I’m becoming overly zealous in my forex endeavours.