Forex. Brokers, News, Trades

It takes a long time of trying to read a chart in a try to find the areas where trend breaks are important, but some basics every trader already know.

Looking at major pivot highs and lows and trendlines on longer term charts are the primary ones.
Stops tend to aggregate under/over pivots as the implication is that these leveks are defended by those who beleive in a continuation of trend.
Strategies of buying a break are common, equally common are seeing the break re-broken in the opposite direction once stops are eaten up so its not the be-all and end-all of strategies anyway.

Do you trade to:

1. make money or
2. to make maximum profit?

Interesting.
After a lot of discussions about this topic my friends answered, its 2:1 in favor of making money vs. maximizing profit. I think the responses reveal a mental status not oriented to win by default.

So, who will explain all the fierce discussions regarding “superior” trading styles or techniques, as well as the self-deprecating topics about leaving money on the table, getting stopped out, etc?

Of course to answer that question you need to understand the subtle difference between making money and maximizing profit!

My guess, many traders are not being honest with themselves…

Forex is all about how to hit the next ball correctly rather than worrying about something of a distant future. The next ball may be for 2 pips or 20 pips or 200 pips or 500 pips depending on a trader?s style.

Anything is possible in Forex.

I am useless as a daytrader. Corrections may take days or longer to complete.

Good quality info is everything in this game.

Bottom picking in the Usd/Jpy is the Mother of all risky trades.

We learn how to trade till we stop trading and we learn from each other everyday. That is the beauty of trading and life in general.

Do not worry about what market will do. Just worry about what you will do when market reaches your “pain point” or “happy point”. You will have an easier life as a trader that way.

Forex players can operate quietly, but they cannot hide their moves in those charts.

Good morning. Yes, no liquidity and no conviction by players make the market look like a vagrant loitering in his usual area. Good forecasts and trades.

Good sleep is essential for good trading but most of the traders I know of seem to sleep with one eye open.

I had a problem – closing my winners too soon. The problem here is that you are trading the “price” and not “order flow“. I actually had the same problem, and after some mentorship, i learned that i was trading the “price”and not the “order flow”. You are exiting positions simply because of a price/target is getting printed, and not because the order flow is changing.

Try to focus on the order flow (example: if its a bull market, try to find signals that tell you that the order flow is starting to go bid, then exit, dont just exit because its hitting a certain price number).