Tips and tricks!

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.

One interesting thing last week LexvanDam started doing weekly trades, gotta say they were spot on with there trade,well done James.

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.

I always close on a Friday. The risk of a crazy event causing huge losses to big for me

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!

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. 😕

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.

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.

That's why I recommend for newbies to get proper training ,the cost is an investment in your future.

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?

Training not trading, everyone finds their own unique style once they have the fundamentals nailed,you need to do research on who's providing training, have they worked as a trader,what was there specialty, do they manage a fund, checkout some of there posts on trade ideas how many workout,sign up to there site see what kind of service they provide,what does it consist of.

in Forex trading we the traders who are particularly newcomers make so many mistake in our trading life due to lacking proper trading experience. Taking wrong trade without proper analysis and risk management is one of the major from all of them.

True Mohammadi and we form bad habits that are really difficult to break,which kills the account,even with a few pointers and dedication changes happen.

This is one of the problems of learning alone, I suppose. You form the bad habit and there's no one to point it out to you while you're still forming it so you can fix it on time.

Nice trades. Any longer histry?

Matas21 posted:
Nice trades. Any longer histry?

More to come ,yeah I'll take a look tomorrow when I get time.

Matas21 posted:
Nice trades. Any longer histry?

This E/G trade stop loss 89334 that's 194e ,TP set at 90 would be a gain of 929e

My top tip - never trade on NFP day