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1-Close stops.2-Enter only at the point of least risk.3-Study what the market pattern is telling you.4-Learn the habits of the traders who know what they are doing.5-Prepare before you sit down to trade.You have to understand that it does not matter what you think the market will do, it will not go anywhere unless there is an imbalance between the buyers and the sellers. One side needs to be winning for the market to trend.The other thing is that you can enter the market at anytime you get a signal that is valid. These signals appear 5 or 10 times a day.Novices never get to learn that the market is easy because they rush in without studying the market flow. Many just listen to brokers and they do not have on line data to see what the market is doing.You have to have the facilities of the professional trader to call yourself one. Most of all you have to act like one.The biggest common fault of losers is that they take a position and will not get out of it when the writing is on the wall that they were wrong. You will always know when you were right and you will always know that if you took a trade and it didn't do what you thought it would you are nowwrong. If it look like it is not…
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SpecialFX avatar
SpecialFX 23 Nov.

Mado, try to include a few images/charts in your future articles, because that way you could have more "quality" points :) Some good advice in this article though, especially the bit about traders not closing their losing positions, that is a big problem inexperienced traders face. Letting losses run and then quickly closing their profitable positions is a recipe for disaster.

doctortyby avatar
doctortyby 25 Nov.

By close stops, what range of pips do you mean?? Over the medium term and long term close stops are different on the spread of the price over the price action chart. Over the short term, intraday trading and scalping, close stops will take you out because of the noise in the markets.

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               LIMITLESS-"the true is out there”Genesis                                                                                                                                                                                                                                                                                                       At the beginning there was the a telephone. On the one side there were you and on the other a broker. Graphs were somewhere in between, drawn on paper and scattered around the room. The time between placing an order for execution and closure continued infinity. To see the current results he had to wait for the morning newspaper Nowadays, many things have changed. You can easily find loads of charts, pivot points, fibonacci tools and ratios, moving averages, trend lines and all of many indicators that are complex and sophisticated to the limits of possibilities. .One thing is the same...proportion of people who win and looses. I believe those people who use advanced technologies could also can work without them! The problem is elsewhere!      Limitless state of mind - CORRECT STATE OF MIND Probab…
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MyiDEA avatar
MyiDEA 18 Dec.

Article contest good for learning...good wishes for this competition...

mortyl avatar
mortyl 22 Dec.

Its wery nice but if enough practical?

corneliu avatar
corneliu 22 Dec.

:) good luck +1 :))

Tinktank avatar
Tinktank 29 Dec.

Very good article, you've done it again! Welldone

ELENA_M avatar
ELENA_M 31 Dec.

enough interesting, good illustrations :) and Happy New Year to you :)

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