Always set a stop loss order when day or swing trading. While we form expectations and make trading decisions based on what we believe will happen using our tested method, the fact is, at any moment price can do anything. Not having a stop loss in place leaves us susceptible to a very large loss. Stop losses control risk, but need to be placed at a price that still allows the market to move toward…
The ABC forex trading strategy is a simple but highly effective price-based pattern that can be used for both forex trading and analysis purposes. It takes advantage of the natural tendency for the price of a currency pair to move in one direction, making several swings, before reversing and swinging in the other direction. Therefore, this pattern can be used to trade trends and reversals. This pattern occurs on all times frames and is utilized…
Improve your trading by analyzing price action, especially velocity and magnitude. As a price action trader, these concepts are crucial for analyzing and making profitable trading decisions in stock, forex or futures markets (or any other market).
Price is the ultimate indicator, it tells the real story. While other technical indicators may help summarize price data, price movement is the basis from which (most of) those indicators are derived. It follows that having advanced price-action-analysis…
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