Learn the strategies to consistent and profitable (forex) prop trading.
Before you set your exit points, determine your profit target, risk tolerance, holding period, and possible events that can invalidate your speculation. Let’s discuss the exact questions to ask, and how they can help you reduce trading losses and protect your gain: 1. What is my risk tolerance You should decide how much (the maximum...
Some of the least favourable moments to speculate in the forex market include public holidays, the later hours of Fridays, before/after major news, and when you’re not mentally ready. Let’s explain in detail why each of these moments is not ideal for trading: 1. Just before or after a high impact news High impact news naturally...
To draw trendlines, identify a clear trend and connect at least two swing highs or lows with a diagonal line, ensuring it aligns naturally with candle wicks without cutting through bodies. For reliability, look for three or more touch points and confirm the trend across multiple timeframes. Here are the detailed steps to follow for drawing trendlines...
Swing trading seeks to profit from market “waves” by entering trades at key support and resistance levels. This approach works by examining technical indicators, chart patterns, traders’ sentiment and fundamental trends to spot prospective entry and exit points. The most popular methods are reversal, retracement, breakout, and breakdown trading. Its advantages include fewer trading (compared...
Consuming too much information for forex market prediction often results in issues like analysis paralysis, emotional burnout, confusion and weak decision-making ability. Let’s take a closer look at how constantly feeding on unchecked influx of news, limitless opinions, and overwhelming number of indicators can cloud your speculative accuracy and limit growth: Market Analysis Paralysis When you...
