Forex Education
Posted: Tue Jul 12, 2022 12:13 pm
Tips on entry
Don't chase trades that already happened, let it go there will be another opportunity,
Never risk over 2% because you will not win every trade period,
Have confluence (at least two signals) and view the context (whole picture).
Tips on exit
Manage your trades by trailing your stop manually,
Cut your losses short before they bite you, watch the lower timeframes while your trade is holding.
Tips on fundamentals
Watch for market reset hours, the weekend opening and high impact news,
Wide spreads will wipe out your position and could go past your stop loss.
Check Bloomberg, Cnbc, or Youtube channels regularly so you don't get smacked by a black swan event,
People usually say to buy the rumor and sell the news but it is best to prepare for either direction.
Symbols values are pegged to their desirability and their usage (I'm currently looking for a way to tell that),
5m to 30m timeframes are more realistic in my opinion because you are closer to current movements.
Fiscal policies grow the economy making their currency stronger,
Monetary policies restrict the economy making their currency weaker.
Stocks for example don't have government protection in their dna so they can crash easily,
Exotic pairs with no liquidity provision don't move unless by government regulation.
The End
Don't chase trades that already happened, let it go there will be another opportunity,
Never risk over 2% because you will not win every trade period,
Have confluence (at least two signals) and view the context (whole picture).
Tips on exit
Manage your trades by trailing your stop manually,
Cut your losses short before they bite you, watch the lower timeframes while your trade is holding.
Tips on fundamentals
Watch for market reset hours, the weekend opening and high impact news,
Wide spreads will wipe out your position and could go past your stop loss.
Check Bloomberg, Cnbc, or Youtube channels regularly so you don't get smacked by a black swan event,
People usually say to buy the rumor and sell the news but it is best to prepare for either direction.
Symbols values are pegged to their desirability and their usage (I'm currently looking for a way to tell that),
5m to 30m timeframes are more realistic in my opinion because you are closer to current movements.
Fiscal policies grow the economy making their currency stronger,
Monetary policies restrict the economy making their currency weaker.
Stocks for example don't have government protection in their dna so they can crash easily,
Exotic pairs with no liquidity provision don't move unless by government regulation.
The End