At the start of trading my career I had a hard time determining when to close my distribution whether it was profitable or negative. Of course after a while I went and some experience watching the markets has become easier and easier to understand that one.
Trying to explain this to a new trader is difficult because they have no reference point, nothing can compare with these concepts.
At the beginning, the enthusiasm is vast and almost irresistible does not appear to place a trade.
If you start or grow a business strategy, deserves to sit and watch price action without placing any professions.
When I developed my first commercial strategy, I did it without placing any live professions. What I found is that it was easier for me to look at price action and market behavior; I simply because emotion with an open trade.I could see exactly what they are doing on the market instead of what I wanted to do.
Trying to watch the energy market and price-setting with a vibrant openness, positive or negative skew your perception.
Tracking user behavior and market value for awhile and try to identify specific patterns and points accurate input allows the trust to identify daily standard regions.
Because market cycles repeat for all of the time it is possible to develop a system using the same stop loss levels and profit targets again and again. key wins the experience and confidence to identify the pattern and again this can be done by simply watching price action and market behavior without placing any live professions at the beginning.
Each trader has a different goal that will dictate the type of strategy to use.
For example, I prefer to trade using charts one hour and thirty minutes. I also specific trading strategies which allow me to trade a trending environment and a consolidation range.Because each one is such a different opportunity through my study of price action and market behavior, I have identified specific patterns which run only a certain distance each time you deploy these professions.
First define your goals, you are trying to scalp for only a few pips or looking to benefit from greater gestures, but have only a limited period of time?
You will be using a 15 minute chart, a 30-minute chart or a chart four hour?
After you identify your goals you can decide which transactions technique to use, and what timeframe.
Determines the appropriate timeframe that will complement your trading strategy will determine the value of average distance to move within a specified period of time, especially daily or weekly depending on your strategy.
Back to my example and commercial strategy, first to identify consolidation and then use a special technique which repeatedly earns 25-40 pips each time I use technique. profitability based on which currency pair.(EUR/JPY will learn 40 pips EUR/USD will win 25 pips in the same range of consolidation)
In a trending market or a release, the technical usage will win 55 to 100 pips, again depending on the currency pair; See in the example above.
Just as we learned in school, good study habits and a good work ethic will go a long way in developing the correct marketing strategy and business transactions.
Best of luck in your trading,
Thanks for reading.
0 comments:
Post a Comment