T
Teez
@teefx001
Last seen:
2 months ago
An SMC trader
0 Followers
1 Following
we have main sessions and we also got regional sessions that overlaps but they also affect the market by adding liquidity, making prices volatile when sessions overlap, affecting prices due to regional news announcements, causing liquidity shortages when sessions change and influencing currency and asset correlation. Awareness of these impacts enables traders to predict market trends during various trading sessions.
Sydney: 10:00 PM – 7:00 AM
Asian (Tokyo, Hong Kong, Singapore): 12:00 AM – 9:00 AM
Frankfurt/European: 8:00 AM – 5:00 PM
London: 8:00 AM – 5:00 PM
North American (New York, Chicago, Toronto): 2:00 PM – 11:00 PM
When it comes to trading, a raw spread account will ensure that the trader enjoys minimal spreads, which are nearly market prices with very little or no mark-ups charged by the broker. This kind of an account is best suited for experienced traders, and brokers will earn profits from the spread.
The decision to close or wait on a trade like this depends on your trading plan, risk management, and the session. If your trading plan is to make 5 pips and you are comfortable with that, then closing the trade is a good idea but if the market is, showing potential for further movement, especially if you are in a session such as London or New York, then waiting on the trade would be a good move, although this also depends on your risk limits. The session is important because it determines the volatility and movement of the markets.
In the forex market, the major sessions are Sydney, Tokyo, London, and New York. These sessions sometimes overlap as well as generating more market volatility. Besides these sessions, there are also regional sessions such as the Asian session, the European session which comprises of Frankfurt and Paris, the Middle Eastern session, and the Canadian session. These are also important, althoug they're less talked about
An Order Block in Forex is a key area where large institutional traders tend to place thier buy or sell order to entere the market, creating strong support or resistance zones. These are typically found at trend reversals or consolidations and are identified by significant bullish or bearish candles followed by retracements. Traders recognize them by spotting impulse moves, marking consolidation areas, and waiting for price to revisit these zones for potential entries. Confirmation with other technical tools and volume analysis can improve accuracy. Order blocks help traders set stop-losses and take-profits while anticipating market reactions in those zones.
Free margin in forex is the portion of your account equity available for new trades and absorbing losses. It is crucial for flexibility, risk management, and preventing margin calls which in turn is helping protect your account.
Trading with a real account offers important emotional and practical benefits, such as building resilience, understanding market conditions, managing risks, and gaining confidence. Starting small helps manage risks while gaining real experience with a real account.
A lot of traders experience multiple consecutive losses which is common in trading with reasons like unpredictable market conditions, mismatched strategies, impulsive trading, psychological factors like fear or greed, and inadequate risk management.
To improve
- review and refine your strategy
- apply strict risk controls
- stay disciplined
- manage emotions through patience and journaling
- set realistic expectations and take breaks when needed.
sticking to this plan and checklist you can watch out for better improvement in a short period of time
To determine if you're a profitable trader, with good psychology and risk management, check for;
- consistent profits,
- disciplined and emotional control
- low drawdowns
- positive trading edge
- confidence under pressure and ongoing improvement through analysis and adaptation and moreover less losses.
Using a forex trading account as a savings account is risky because forex is highly volatile and can lead to significant losses. Unlike savings accounts, forex isn't insured, offers unpredictable returns, and can cause emotional stress. It's not suitable for preserving capital or for emergency funds due to its lack of safety, liquidity, and reliability.