Forex trading can be an exciting and potentially lucrative activity, but it is also inherently risky. The foreign exchange market is one of the largest and most liquid financial markets in the world, and prices can fluctuate rapidly in response to news and events. To be
Horizontal Fibonacci retracement lines represent price support and resistance levels. Fibonacci works well in trending markets. When the market is heading up, go long (or purchase) on a Fibonacci retracement. When the market is going DOWN, short (or sell) at a Fibonacci resistance level. Fibonacci retracement
Thing #1: Don’t Daytrade all session long At the time, I thought more hours trading was a good idea. More hours, more opportunities, right? Not quite. It led to a loop of overtrading, exhaustion, and poor trade selection. Instead, I limit my daytrading to two to
FEAR Fear is one of the two most frequently talked about emotions in trading (greed, which comes next, is the other one). Fear manifest itself in a number of ways in trading and it can be the cause of many trading mistakes. The fear of losing
Let’s categorize it into 3 ENTRY QUESTIONNAIRE IS THIS A RISK ENTRY OR REDUCED RISK POSITION? IS PRICE MOVING IMPULSIVELY OR CORRECTIVELY? IS PRICE IN THE IMPULSIVE PHASE OR THE CORRECTIVE PHASE? IF PRICE IS MOVING CORRECTIVELY, ARE WE FORMING A CONTINUATION OR A REVERSAL? IS
Three Black Crows Pattern Black Crows Pattern Candlestick patterns are the key technical tool for traders to understand the price movement of securities. The candlestick charts are most used by traders and candlesticks are formed by the open, close, high, and low prices of a security
Trading Game Plan Your Trading Game Plan Your first step to being a successful trader is developing your game plan. This is your blueprint of how you will approach and navigate through the markets every day. Write it down, and consistently review it. Be as detailed
What is Liquidity? The markets need to generate liquidity in order to move up or down. If liquidity isn’t already there, then it will will be created.Retail basics are like support and resistance, double top, double bottom and Trendlines. These areas are mostly generates liquidity to
1.FOCUS ON ONE SETUP There are several advantages to focusing on one forex trading setup: 2. START WITH SMALL CAPITAL starting with small capital is a wise approach, especially for beginners. Here’s why: 3. AVOID SYSTEM HOPPING System hopping in forex trading refers to the frequent
To be a great trader, you must be open-minded and flexible when new technical information emerges. Throw your opinions out the window. Breakouts will continue to work most of the time in a bull market because human emotions don’t change. Accumulation and distribution are clearer and