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Paul Petit
@paul_petit
Last seen:
17 hours ago
never try to predict where the high or low is
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Trading is trading, whether you trade stocks or forex etc. In general what always gives traders an edge is access to the right information that can give you an edge. With the right information you don't even need to look at the charts too much, you just place your trade set a wide SL and wait. Many unsuccessful retail traders today don't even have a daily read, such as a newsletter they read before trading every day. Some don't even believe that information gives you an edge, they think they can just look at the charts and decipher where institutional traders placed their order. What a joke!
CFDs allow you trade either three of the markets you mentioned which are: spot market, futures market or options market.
The spot market has lower spreads than the futures market but is less transparent and attracts overnight swaps if you leave your trade open till the next day. So, the spot market is ideal for day traders.
The futures market has wider spreads but the fees can be lower especially because there are no costs for holding trades overnight.
That's why websites like this one and forex factory are great, they allow you document your process online so that in future you can look back and smile
FTMO is fond of using this rule to ban profitable traders. The problem is they interpret the rule in different ways thus shifting the goal post
Russia used the Oreshnik missile in its fight with Ukraine. this is a significant escalation because that missile has intercontinental capability.
Exchange rates are designed to range between certain ranges, central banks can intervene to keep the exchange rate within a certain range. But stock prices can keep rising without cap, making them more profitable.
To avoid this, I always take partial profit as price nears TP, that's what the take partial profit tool is there for but many traders don't utilize it
I learnt to pay attention to fundamentals, not just technicals. It makes trading a whole lot easier. If I dont have any fundamentals on an instrument, I wont trade for that day even though the technicals may look good.
@yokoyi always posts the EIA report when it is released every week, he has a thread on this platform for it. Basically if the actual data is better than the forecast then you can expect a bull run etc. There is more detail on @yokoyis thread.
It was a good week for commodity traders, I traded natural gas EIA inventory data release and made like 50-60 pips in around 1 hour
Impatience is a real problem, sometimes I feel like just tying my hands so i dont interfere with the trade
My plan was that if I made up to $10 today I would close the trade, withdraw the profit and go for a pork sandwich 😂and boy did it taste good! Sounds like a plan to me
Do they even wish you happy birthday? I mean banks do it, they send you a birthday message but brokers hardly do it, almost as if they hate you.
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