T
Tony Xhan
@tony_xhan
Last seen:
1 day ago
Technical Trader
0 Followers
0 Following
I feel you, the people retail traders are up against are busy building computer models to sort data, coding scripts to improve trading efficiency, some even have dedicated desks for research of new strategies that give them an edge. But the regular retail trader learns one strategy and thinks that is the all in all and he relaxes and never makes effort to learn anything new again.
You're not alone on this, and this is why people keep using high-spread brokers because there are mostly the ones who offer high leverage
MT4 accounts can only be used on the MT4 trading software. MT4 is being phased out so their users had better open MT5 accounts if they want to keep using MetaTrader
You go somewhere and tell people that your strategy has a 95% win rate meanwhile deep inside you know you're lying. Now you have to live up to the peoples expectation, so you keep using the same unprofitable strategy because you know that changing it will expose your lies
This report is not useful for currency traders, and even for commodity traders it may not be immediately useful because the report shows historical data and not forward leaning data. As you can see from the screenshot the report covers commodities like agriculture, petroleum etc. It does not cover forex pairs.
Sydney is usually the session that opens the dancing floor so its the first trading session of them all.
During the Asian session, Singapore is the last session to open so the sequence is Sydney, Tokyo, Singapore
You have to be patient, sometimes the market could choose to take a longer route to get to what seems a short distance.
But I have words of wisdom from George Soros. he said : I'm not better than any trader, I'm just quicker at admitting my mistakes and moving on to the next opportunity".
Nothing is 100% true in trading, I mean there are contradictions here and there. What seems true for some may not be for others.
Let us look at a practical example, on the charts there is an upward trend but after price crossed the pre-frankfurt hour high a bearish candle formed which shows a danger of reversal of trend just like the danger the bridge posed to the boat man. A way to manage this risk is to close the buy position (exit the boat), wait for price to close abover the red candle (cross the bridge on foot), then re-enter the buy position when it does( jump back into the boat). Hope this helps guys!
So many times as traders we are faced with a similar situation where danger is approaching and we dont know what to do so we panic and shift our stop loss to accomodate more danger. From this jaoanese technique, one way to manage the risk is to exit the position, and re-enter it when the danger clears.
Showing 20 of 48 replies.
Log in to see all replies