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Friday, December 9, 2016
FBM KLCI - breakout from sideways range
Stocks on Bursa Malaysia ended at intra-day high yesterday on continuous buying interest in trading/service- and finance-related stocks. Read more >>
Every Forex Trader Need Pateience. Most successful trading strategies allows traders to buy to go long during an uptrend in quality demand zones, and to sell to go short during a downtrend in quality supply zones. However, a “problem” that many new traders (and experienced traders!) seem to have is the need to be “first” when price hits their chosen level. While occasionally price hits a level and IMMEDIATELY turns and goes your chosen direction, more often than not the prices hang out in a level for a bit before turning. Many traders will execute quick trade entries, yet this pause in action will shake their confidence in the trade causing many to take themselves out early, or even move their stop loss too early for the trade. When the trader is then out of the trade, very often the chart will then move directly to their target, yet they have no position on! Has this happened to anyone else besides me? One thing to be aware of, especially when trading from larger time frames like daily or four hour charts, is the fact that THERE IS NO TROPHY FOR BEING FIRST TO ENTER THAT TRADE! I prefer to wait around for a couple of candles to make sure that the zone is holding before entering my trades. But how long should you wait? My preferred technique is to look back on the chart at the last 3-5 times that my currency pair has turned to see how much time I should give before committing to a trade entry. I am a forex trader who has moved from lows to highs and I am aspiring for higher highs in my career. I owe my broker a million of thanks for their excellent services that enhance the performance of my strategy.If you want the highest ranking broker that offers fast execution and timely processing of withdrawal requests, I would recommend FxGlory.
1 comment:
Every Forex Trader Need Pateience.
Most successful trading strategies allows traders to buy to go long during an uptrend in quality demand zones, and to sell to go short during a downtrend in quality supply zones. However, a “problem” that many new traders (and experienced traders!) seem to have is the need to be “first” when price hits their chosen level. While occasionally price hits a level and IMMEDIATELY turns and goes your chosen direction, more often than not the prices hang out in a level for a bit before turning. Many traders will execute quick trade entries, yet this pause in action will shake their confidence in the trade causing many to take themselves out early, or even move their stop loss too early for the trade. When the trader is then out of the trade, very often the chart will then move directly to their target, yet they have no position on! Has this happened to anyone else besides me?
One thing to be aware of, especially when trading from larger time frames like daily or four hour charts, is the fact that THERE IS NO TROPHY FOR BEING FIRST TO ENTER THAT TRADE! I prefer to wait around for a couple of candles to make sure that the zone is holding before entering my trades. But how long should you wait?
My preferred technique is to look back on the chart at the last 3-5 times that my currency pair has turned to see how much time I should give before committing to a trade entry.
I am a forex trader who has moved from lows to highs and I am aspiring for higher highs in my career. I owe my broker a million of thanks for their excellent services that enhance the performance of my strategy.If you want the highest ranking broker that offers fast execution and timely processing of withdrawal requests, I would recommend FxGlory.
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