The difference between pros and other traders is that although they made mistakes in the beginning of their trading career, they learned from them and changed their way of action to better trading.
As you may have noticed, all of these tips support each other. Having a calm temperament as well...
Stop losses are a fantastic tool to ensure you don’t lose too much on trades that turn sour. However, make sure they aren’t placed too close to the original amount, or you will be closed out before any real market movement occurs.
Once you’ve chosen your preferred trading strategy, it’s time to take the emotion out. The most successful traders are usually ones who stay calm even when the market is extremely volatile. This is the main reason why they manage to make good decisions, while others don't.
The best pullback is the first pullback
A pullback is when the price temporarily moves against the trend. And this provides an opportunity for traders to get on board the trend.
In my experience, the best pullback is the first pullback after a breakout.
Here’s why…
When the market is in a...
It baffles me whenever I see traders trading against the trend.
Why would you want to do that?
Perhaps it’s an ego thing, to call market tops and bottoms. But here’s the thing…
If you’re serious about making money in this business, it’s far easier to trade with the trend — not against it...
Here’s the thing:
You don’t go short just because the price is at Resistance.
Why?
Because how the price approaches Resistance matters a lot.
For example, if you see higher lows coming into Resistance, it’s a sign of strength.
It tells you the buyers are willing to buy at higher prices and...
Trade breakouts with a buildup
You’re probably wondering:
“What is buildup?”
A build-up is a tight consolidation otherwise known as volatility contraction.
And the location where a buildup occurs gives you a BIG clue to where the market is likely to break out.
For example, if there’s a...
Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.