The wedge is fairly common pattern, and if you familiar with Elliott Wave analysis a wedge often appears in wave 5–the final stage–of a trend. Rising wedges are bearish and falling wedges are bullish. Depending on trend direction and the angle of the wedge, that could mean there are occasions when a wedge is a […]
Losing trades happen–to everyone–so as long as you follow your strategy, and executed the losing trade according to your plan, that losing trade doesn’t matter. A good trade or bad trade should not be determined on the result of the trade, but on whether you executed your plan correctly. As traders we need to learn […]
Paying attention to price action doesn’t just occur before a trade, price action is also very closely monitored while a trade is underway. We take trades because our strategy indicates to do so based on current market conditions, and a stop loss and profit target are placed to limit risk as well as capitalize on […]
Good Day traders, In this article I am going to say and explain some useful and simple strategies for newbies.If you do your research out there you will find so many strategies which promise fast and sure profit. Their creators describe them as the “holy grail” and many times it needs to subscribe to take […]
Since I don’t usually trade until near the European/US overlap period, before any trades are made each morning I look back to see how the price was acting through the first few hours of the European session. That information helps me decide how I will trade the day. If it is choppy with hard to […]
I am continuing to trade a new forex trading strategy, and was able to get in two trades this morning before switching to another market. I’ll continue to expand on the strategy and provide more details, in addition to what was shared in the Forex Day Trades – October 7 post. When to Trade The […]
Hi everyone, In this article I am going to give you some tips about how to become a trader for a living.Some new traders earn some fast money in the beginning and they think that trading is something easy.All of them fail in the long term run because trading is very difficult.First of all, if […]
Hey trader, In this article I want to show you with some examples and trades why is important sometimes to take longer expires in your trades. As you know from my articles I like very much short- term trades and short- term expiry times like 5 minutes or even trades with 1 minute expiry. What […]
When I started trading almost a decade ago, this was one of the first basic strategies I used–buy on new highs or take short positions (buy puts) on new lows. It was incredibly simple and allowed me to establish my career as a trader. During that time there was lots of activity in the market, […]
Here we’ll look at two day trades in the EUR/USD. The strategy used is a trend following strategy which I have been trading and testing on a 1 and 5 minute chart. For most traders I would recommend using it on a 5 minute chart since the targets are a bit bigger, risk is still […]