your trading psychology isnt good, you will probably mess up the most important part of this strategy, risk to reward ratios. AUD/USD long trade This trade triggered a few hours fsa forex règlement before the trade above. Sellers are in control. And, it is also very stressful, which brings me to my next point.
Fortrader, suite 11, Second Floor, Sound Vision House, Francis Rachel Str. That almost means that I can be wrong 75 of the time and still break even. Since buyers cannot close above the.7633 area, a short trade is entered. You can see clear bounces from the.7485 area over the course of ten hours. You also know what a trend continuation looks like.
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Buyers make several attempts at closing above the.7633 area. If the trade fails it does not matter, all that matters is that you maintain a minimum of 1:3 risk to reward ratio. Now remember rule two? The basic concept is to trade with the trend. We will only enter a trade if our trader forex webinaire target is 3x larger than our stop. You use your understanding or price action to make an educated guess. These bounces showed me obvious resistance in the area. This is because reversal trading relies on identifying the precise moment in which a trend dies. These trades are all recent and they were either taken by me or members of the advanced course forum. Feel free to send me an email to let me know if you need a video to clarify this subject. Trades like this are quite common, trades will not always hit your target within 20 minutes. 2 Draw a line to connect the bounces Once you identify several bounces, draw a horizontal line between them and join them.
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