Discussion in 'For novice traders' started by Francmorio, Oct 13, 2017.
See, one thing traders should look for, Only trade two things:
We should always be ready to trade in every way. If we are not sensible with our approach or if we don’t trade with proper plan then we will struggle. I don’t like to fix anything with this or that way instead I just open my ways to be able to perform.
I always believe in doing what I am comfortable with, so it is not exactly right to follow anyone’s own way. We should be doing what we are comfortable with as that is what will help us with gaining maximum.
Yes, agreed. Reversal and breakout are the most strategy that many traders use it, and there are basic education also.
If I want to explain my opinion
Reversal is a pattern of predictable price movements or provide a strong signal will change the direction of the market.
Breakout is the chart moving out of the range of price range that has been a place of price movement, with the breakout creates a price higher or lower than some previous period.
From my experience, it is trading everything that results in failure. You need to get a good strategy and stick to it. You must have a strategic approach to everything you do, not everything is useful
Yeah, we must to have specification and we have to choose which strategic approach to our goal in trade. but for the first time to know everything is good enough for full fill our knowledge.
that is true. when a strategy fits one trader, does not mean it will fit us. take time in choosing the right strategy to achieve our trading goals. get enough knowledge.
That's also the reason why we must to have spesification for forex strategic to help us earn much money on forex. but for your information, as i know that the popular trading system is support and resistant also scalping.
scalping is tiring though!
it's like a sprint. and I'm more suitable for a marathon. but that doesn't mean scalping is bad. it's just a matter of preference.
Yeah, and makes your heart beats is like shinkansen in Japan, so fast!. yeah, the point is take it as a reference.
I haven't scalped for a long time.
But now I'm not scalping anymore since it requires huge focus. Try swing trading, it takes few hours to analyze and you can yield good amount of profits in several days...
Is it more profitable for you personally to do swing trading instead of scalping? For my friends, scalping gives them more income. but as you said, more focus and more time devoted into it.
Reversal is a permanent price reversal. That is, the reversal of the price is not just an instant, but can occur continuously in a longer timeframe. In price charts, reversals are usually marked by price patterns (Chart Patterns) such as Double Top, Head and Shoulders, etc .; or certain candlestick patterns, such as Engulfing, Three White Soldiers, etc.
I'm glad you actually mentioned that. I do think reversals is always the best to trade, so simple yet so productive.
Note that the retracement during the downtrend here confirms the main trend, because it forms a lower high. This is in accordance with the principle of forming a downtrend, namely lower low and lower high.
Hello, but how if reversal make false signal, what should I do ?? Please continue this thread because I want to know more about this strategy, I think this is a part of "naked trading"
Totally agree with this. You may want to find another factors to support the analysis. Such as support and resistance level or supply and demand on the main impulse movement.
hey bro, do you mean you follow a false signal or set open order or target profit based on the false signal? Hmmm if the decision has been made, there's nothing you can do but use stop loss. i think you need to better your analyses. but don't we all do
In the world of trading, support and resistance will not last forever. At one time these levels will definitely break through. At such times you can still try to find opportunities with a strategy called breakout trading. This trading breakout strategy is one hundred percent different from bounce trading. If on your bounce trading you are waiting for a bounce to buy or sell, in the breakout strategy you will instead take advantage of a break of support and resistance assuming that a break of support or resistance tends to be followed by a rally.
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