If any system or technique helps you trap the market on a consistent basis, stick with it.
Trade safe and prosper.
I love your candour mate. We all need to learn patience.
Yes, sir! Will do!
That sounds like a reasonable enough strategy, If it works for you, great!
Yes. I thank drforex-t on instagram. Whoever he is or they are. I bought the ebook. And, that where it all began.
Sure. Will do. Will continue doing so.
There is a lot to learn but it is important to know what you really need to learn to have a consistent winning edge in the market.
That is a very good point. Analyze your mistakes and be self-aware about your weaknesses, then strive to improve them.
Something I did do today - closed all my positions and now I am waiting to see what the results of the American elections will be.
I hope all went well?
Yes, it did, I am pleased to say. How the market would develop after these election results was rather obvious.
Really obvious? One thing I have learnt in Forex trading over the years is to be wary of certainties. Fundamentals are only useful if the market sentiment is in alignment; therefore, I will wait for how the market reacts first before I take any step.
You can learn what to avoid doing in Forex trading from the video below. Note: I have no financial interest in the presenter.
I hope you learn from the below video.
Note: I have no financial interest in the presenter.
Trade safe ad prosper.
One thing I would do differently is not open another long on EUR/USD thinking it would continue rallying.
Good point mate! We add to our trade positions upon pullbacks of price action to areas of value, e.g. a fib retracement zone and a breached S/R zone.
I know. I acted impulsively without actually considering what I know.
That is a candid statement and we all do this from time to time no matter our years of trading experience.
That’s true, unfortunately. It’s a good reminder that one must never slip in their discipline because the consequences are unpleasant.
For those tempted to trade these times, just be careful You may spend the time to review your trades and journals, and also fine-tune your skill in chart analysis.
The habit of doing a pre-weekly top-down technical analysis, which I developed three years ago, has greatly improved my trading. This habit is particularly integrated with my swing trading style.
The beginner's guide to FX trading