They know how to trade, but don't know when to trade

@scooter_mx - 1 day ago

Trading is like going fishing, you don't just take a fishing trip anytime you like, you need to check the weather, and season to know if the fish have migrated to another location. Just fishing at anytime means you can spend hours in the water and end up with nothing.

This is the same way trading works, at certain times there is a lot of liquidity in the market and this causes your technical analysis to work more accurately because there will be less fake outs

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@scooter_mx - 1 day ago

Quoted - scooter_mx

Trading is like going fishing, you don't just take a fishing trip anytime you like, you need to check the weather, and season to know if the fish have migrated to another location. Just fishing at anytime means you can spend hours in the water and end up with nothing.

This is the same way trading works, at certain times there is a lot of liquidity in the market and this causes your technical analysis to work more accurately because there will be less fake outs

Why are you trading Nasdaq or US30 when the New York session is closed?

Yes you may get lucky now and then but I wouldn't trade American indices such as Nasdaq, US30, SP500 etc. when the New York session has closed. The reason is simple: the stock exchanges are closed for business so price action will be shaky; with lots of fake outs

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@scooter_mx - 1 day ago

Quoted - scooter_mx

Why are you trading Nasdaq or US30 when the New York session is closed?

Yes you may get lucky now and then but I wouldn't trade American indices such as Nasdaq, US30, SP500 etc. when the New York session has closed. The reason is simple: the stock exchanges are closed for business so price action will be shaky; with lots of fake outs

Beware of the Public Holidays

I always try to know when it is a public holiday in America, Europe and UK because I trade associated pairs often. Public holidays can dry up liquidity in the market and cause price action as you know it, not to work

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@scooter_mx - 6 hours ago

Quoted - scooter_mx

Beware of the Public Holidays

I always try to know when it is a public holiday in America, Europe and UK because I trade associated pairs often. Public holidays can dry up liquidity in the market and cause price action as you know it, not to work

Beware of Fridays

Many sustain grave losses on Fridays because the consciousness that Saturday is a no-trade day makes traders act irrationally. Most traders refuse to accept losses on Fridays because they can't live with the fact that they had a losing week. They need to recover their losses so that they can enjoy the weekend. But such desperation will only lead to more losses.

Triple swaps are also applied on Friday trades so I try to close all positions before the market shuts off. Leaving your trade open on a Friday night means you are exposed to gaps, huge swap fees etc. why would you do that when you can just close the trade and wait till Monday?

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@melody_nk - 2 hours ago

Quoted - scooter_mx

Beware of Fridays

Many sustain grave losses on Fridays because the consciousness that Saturday is a no-trade day makes traders act irrationally. Most traders refuse to accept losses on Fridays because they can't live with the fact that they had a losing week. They need to recover their losses so that they can enjoy the weekend. But such desperation will only lead to more losses.

Triple swaps are also applied on Friday trades so I try to close all positions before the market shuts off. Leaving your trade open on a Friday night means you are exposed to gaps, huge swap fees etc. why would you do that when you can just close the trade and wait till Monday?

💯

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@nsg_usd - 1 hour ago

Quoted - scooter_mx

Why are you trading Nasdaq or US30 when the New York session is closed?

Yes you may get lucky now and then but I wouldn't trade American indices such as Nasdaq, US30, SP500 etc. when the New York session has closed. The reason is simple: the stock exchanges are closed for business so price action will be shaky; with lots of fake outs

I trade them during Asian, and London Session as well. They may be US indices, but sometimes they carry volatility in those sessions as well.

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