some tips for new traders,I hope it helps to improve your trading and to be more professional.
this stuff is free online you just have to know what is right!
2:1 or 3:1 risk reward Max 2% of your total capital on one trade wait for spike downs or spike ups watch out for support and resistance levels,these are targeted by the big boys!easy pickings. don't trade before data releases technical trading is only a guide,not set in stone. remember that the market learns quickly of any mispricing Levels are more respected during the Asian session than European-US.
You could use the heat map to identify other forex pairs with higher movement. Side-ways trends are horrible, i know. Alternatively put an BUY / SELL STOP, so you don't have to watch the chart all the time. Or use a software that enables price allerts. happy trading, Peter
PetziK posted: You could use the heat map to identify other forex pairs with higher movement. Side-ways trends are horrible, i know. Alternatively put an BUY / SELL STOP, so you don't have to watch the chart all the time. Or use a software that enables price allerts. happy trading, Peter
That's what I did Peter,price alerts are great ,no need to sit and watch screen,sideways are great because you know that orders are accumulating in the background waiting to pounce or drop like today.I stick to Eur/Usd as I know it's habits,easy to trade for me.
60% of my trades are wrong and 40% correct,even at this rate I make a good profit,it doesn't bother me losing on some trades,its part of trading.I keep my losses as small as possible and let winning trades run.At the moment I'm trading stocks,this is the time of year to pick up some winners,my view would be negative on stocks,unless I get a 10%-20% pull back.
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