The Number One Thing Every Forex Trader Does Wrong
Psychology is really easy or really hard, but that isn't what this is about. This is my opinion, it does not construe investment advice bla bla etc, so here's the thing: you aren't looking at enough candles. Give yourself more data. Look at more candles. Scrunch your charts. "The death of one is a tragedy, the death of a million is just a statistic" - some asshole, loosely quoted Look at the statistics. Scrunch your charts.
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Hello folk, I wanted to share my biggest experience on how to trade the forex market. I got to know that the smart money is in the yield market. Everything what happens in world shows the yield market. And there is one rule for currencies and their strength. “Currencies follow yields/ interest rate” It’s simple and you have to repeat this sentence hundreds of times in your mind. Currencies follow yields, since the interest rate tells you how worth the money is. It’s the only measurement for money. That’s what the central banks tell you, how much worth is the currency. Now you might ask “You want me to wait for interest rate decisions of the central banks?” No! I’m telling you, read what the bond market is telling you. How is the 10years Treasury Yield moving? How is the shape of the Yield Curve and where is it going? It tells you about the economy conditions (in this case the USA) and most important the inflation. Every country has bonds they sell to get loan. In Europe you take an eye on Germany, France and Italy since they are the most strongest countries in Europe. “So you are telling me, checking the yield curve tells me about how much worth the money is, the economy conditions and most important the inflation?” Yes!! “What is the Yield Curve and how to understand the spread between US 10y and Japan 10y yields?” Well, this takes to much to explain. I can tell you this: Spread between 2 Yields from different countries tells you where the currency pair will go! You can learn about the Yield Curve a lot in the internet. Most important Links: The Bond Market as a Forecaster for Economic Conditions All about the Yield Curve Steepening and Flattening Yield Curve Bond Spreads: A Leading Indicator For Forex I can recommend you: Read everything you can find about yields, yield curve, yield market, yield predictions, economic influence in bond yields and all the working papers which you can find in the internet about the yield curve. And if you are really smart, make an excel sheet out of it and trade the currency market like a pro. “Currencies follow yields/ interest rate” EDIT: The following links are informative for you too: Yields of all maturities and the YIELD CURVE: World Government Bonds To track all central bank monetary policies: Global Monetary Policy
95% of retail traders lose money in the long term. This number is just ridiculous. But you should not be so surprised when you think that everyone (almost of course, there are exceptions) is looking for the perfect system, the perfect strategy and they don't pay attention to the real important things such as: mindset, risk management, consistency, discipline and so on. Moreover, you find online lots of "fake" traders or "fake" people (without values, I don't mean robots) who try to sell useless course for 700/1000 $ if you're lucky. You go on internet, on various sites and you see almost everyone talking about some special setups and you see only charts everywhere. No one talks about your emotion management during the day, a risk plan that can save your account in difficult scenarios, things to do to have an excellent execution and a great timing. Actually, there a few who talk about these topics, but they're rare, and you have to spend some time to find them. What do you think about? Have a great weekend.
Here is another great content on round numbers in forex trading along with explanation on how to use it in your trading: “I’m going to explain how you can profit from the forex market by using round numbers, it’s really important so listen up let’s get into it right now. Now this is a really important lesson and I would like to explain to you how I use round numbers and how you can use ... Here is a quick strategy to utilize near round numbers in the forex market (and likely other markets as well) to hopefully extract a profit. A round number occurs every 100 pips. 139.00 and 141.00 are examples of a round number in the EURJPY ; 1.3600 or 1.4100 are examples in the EURUSD. Trading off round numbers is a rather popular technique in Forex and other financial markets. Although round price levels rarely hold any meaningful fundamental value, they provide solid psychological points of reference to human traders. The round numbers (example EUR/USD 1.2800, USD/JPY 99.00) are natural levels of support and resistance. A lot of orders are placed around these levels. During the last few years the importance of the round numbers increased because they are used for options barriers levels and are protected. That is why when the market approaches such levels the price movement is countered by these order flows ... FOREX Stats and numbers. Pipruit: Greetings Commander! I’m a little confused about all this stuff. I mean we are already discussed so many details, and I understood a lot more now. But can you give me some overall picture? I want to be able to see all the parts of the FOREX market. I just can’t put these important details into whole puzzle yet. Commander in Pips: Ok, what particularly do ... Extensions use Fibonacci numbers and patterns to determine profit taking points. Extensions continue past the 100% mark and indicate possible exits in line with the trend. For the purposes of using Fibonacci numbers for day trading forex, the key extension points consist of 61.8%, 261.8% and 423.6%. Fibonacci Forex Trading Strategies In Action And of course we must appreciate the in forex trading nothing is certain, and that these numbers will not hold true in every single circumstance. However, if we look at our charts objectively knowing that price action does, in most cases, gravitate to and from these whole and 50 number levels it should offer us an extra edge in our trading.
Getting million dollar in Forex using Round number - YouTube
When you open a trade on the Forex Market, the numbers on the screen will start to change. You need to be able to count the price units also known as PIPS, i... Round number trading strategy is simple and easy system to use. All you need to do is mark round number between 00, 50, 100, 150 etc and see what will happen... Forex Trading With ROUND NUMBERS! [2020 & BEYOND] TradeHappy here again! Forex trading market tips and advice about how to be happy whilst trading. Today we are going to be talking about round ... #DailyPipTalk #LondonBreakoutTrading #ForexTradingTips #SimpleForexTrading 50 PIPS a Day Forex Trading Strategy Using The Round Numbers My 50 pips a day fore... Find out one of the first steps in trading forex, understanding quotes. #DailyPipTalk #LondonBreakoutTrading #ForexTradingTips #BankTradingLevels BANKS Trade FOREX Off The NUMBERS. Learn how to trade the London breakout strategy ... download this trading system, link below https://vk.cc/9fs5vl#145 get forex strategy and trade profitably live forex trading - eurusd, audusd, gbpusd, nzdusd... How to read a currency quote http://www.financial-spread-betting.com/forex/forex-trading.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Let's look ... Let's look ... ستجد بهذه القناة معلومات ستغير وجهة نظرك كلياً تجاه أسواق المال العالمية والشركات العاملة فيه وستتعرف على ...