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kieran (snapdragon1970)
Nov 05 2017 at 15:37
1945 příspěvků
mlawson71 posted:
snapdragon1970 posted:
Yes its common for banks and institutions to test for reactions at the open, then things begin to settle as a better picture is formed of what others are doing.


I've noticed that too. A similar thing seems to occur at the end of the market session on Friday night.


Not many want to hold trades over the weekend unless there in a really good position, plus if you have a good profit after lunchtime most will only take small positions to finish on a positive, a lot of false signals and setups for Algos to catch out traders trying to make back there losses.

"They mistook leverage with genius".
kieran (snapdragon1970)
Nov 05 2017 at 15:42
1945 příspěvků
One interesting thing last week LexvanDam started doing weekly trades, gotta say they were spot on with there trade,well done James.

"They mistook leverage with genius".
mlawson71
Nov 06 2017 at 15:12
1487 příspěvků
snapdragon1970 posted:
mlawson71 posted:
snapdragon1970 posted:
Yes its common for banks and institutions to test for reactions at the open, then things begin to settle as a better picture is formed of what others are doing.


I've noticed that too. A similar thing seems to occur at the end of the market session on Friday night.


Not many want to hold trades over the weekend unless there in a really good position, plus if you have a good profit after lunchtime most will only take small positions to finish on a positive, a lot of false signals and setups for Algos to catch out traders trying to make back there losses.


Good point. I rarely do that too - my fear is, among other things - that the instrument I am trading could open with a gap in either direction. Sometimes those gaps end up pretty large.

SAFXEater
Nov 06 2017 at 15:44
15 příspěvků
I always close on a Friday. The risk of a crazy event causing huge losses to big for me

kieran (snapdragon1970)
Nov 06 2017 at 16:05
1945 příspěvků
mlawson71 posted:
snapdragon1970 posted:
mlawson71 posted:
snapdragon1970 posted:
Yes its common for banks and institutions to test for reactions at the open, then things begin to settle as a better picture is formed of what others are doing.


I've noticed that too. A similar thing seems to occur at the end of the market session on Friday night.


Not many want to hold trades over the weekend unless there in a really good position, plus if you have a good profit after lunchtime most will only take small positions to finish on a positive, a lot of false signals and setups for Algos to catch out traders trying to make back there losses.


Good point. I rarely do that too - my fear is, among other things - that the instrument I am trading could open with a gap in either direction. Sometimes those gaps end up pretty large.


Yeah we never have to worry about it going up in profit too much!

"They mistook leverage with genius".
mlawson71
Nov 07 2017 at 15:49
1487 příspěvků
snapdragon1970 posted:
Yeah we never have to worry about it going up in profit too much!


If it even goes into profitable territory. With my luck gaps usually just lead to losses. 😕

Mohammadi
Nov 07 2017 at 16:00
886 příspěvků
Every trader in this market place I think already knows Forex is a risky business. That’s why need experience and knowledge to minimize the risk . Without proper trading knowledge and experience, a trader many be get more loss than profit. We should understand that there is no shortcut and we can’t become rich overnight.

mlawson71
Nov 08 2017 at 16:12
1487 příspěvků
I am not sure that all traders, especially newbies realize all the risks. As a newbie I certainly didn't, come to think about it. Becoming aware of them was a long and often painful process.

kieran (snapdragon1970)
Nov 08 2017 at 17:00
1945 příspěvků
That's why I recommend for newbies to get proper training ,the cost is an investment in your future.

"They mistook leverage with genius".
mlawson71
Nov 09 2017 at 15:29
1487 příspěvků
snapdragon1970 posted:
That's why I recommend for newbies to get proper training ,the cost is an investment in your future.


How do you define 'proper trading' though? And how would a newbie know who to trust to train them?

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