Coinor-libclp-dev 11611+repack1-1 binary50 comments
Don t trade binary options course! 3 trading strategies for!
Reversal trading is pretty simple when you see a picture perfect set up. Check out the trade to the left. That set up is pretty much flawless. Most reversal trades do not look perfect. In fact, price action rarely ever looks perfect. Usually it is tougher to spot, and enter reversal trades. I created a simple step by step replay of two reversal trades from last week.
Both of these trades were posted to the forum before they triggered. The video shows you exactly how to trade these reversals. Including where to enter, where to place targets, and where to place stops. Subscribe to my YouTube channel for more videos. I enjoyed making this video, if you enjoyed watching it, let me know!
Before you keep reading, scroll down to the comments section and let me know what you think. Click here to cancel reply. Email will not be published required. Only one question on the first trade: Thanks very just what I needed clarity…been struggling some time you made it easy to understand…. Like Dan said, you can trade in both directions. What I mean was, that a reversal must be reversing from something.
The preceding trend, is a trend. Indecision is the last gasping breaths of that trend. The reversal marks the death of the trend. Us reversal traders deal in death. We trade counter to the trend because we anticipate the death of the trend. No trend will last forever. And, even big trend need to take a breath.
Perhaps this trade marks the death of the bullish GY trend. Perhaps this trade was only a lull in the trend.
Whatever it was, there was pips there for the taking. Can you explain why So we are using a mixture of dynamic sr and historical sr. However, we use it when we have to. The sr in that area is pretty wide, ranges from It was place based on data from and Pretty big bounce from the Indecision formed on the area and price reversed.
The fact that indecision formed on there last week served as extra confirmation that there is resistance there. Sorry, I fixed that. It was the 17thth of October to be precise. When there is no other form of support and resistance. You go back as far as you need to in order to find support and resistance. Once you place an area on old data you need to wait for current price to confirm it…. Forex is a very tough business to break into.
If you are willing to dedicated the time though, it is possible to succeed. I have done many different things i just got out of a business venture where i lost almost everything and i started this trading thing with stocks but i dont like the fact that is not as liquid as the foreign exchange market so i started doing research and doing demo trading and i have conquered the emotional aspect of it i think i like the price action no indicators technique i am now looking for a good broker to open an account with.
I am not a huge fan of stocks. I love Forex mostly because its a 24hr market. It feels so odd trading in a market that opens and closes each day. As for good brokers, the only advice I can give is DO NOT force yourself to go with a broker just because of their charts. Find a good broker, with a good reputation. Screw the charts, you can get your charts elsewhere. You can even use a demo account for charts if you have to.
Thanks Nick, I enjoyed the video, the details and explanations you provided as well as the description of your emotions while the trade was running.
Your honesty in sharing trades that were either less than perfect or did not quite work out as planned gives you so much credibility. I am glad you enjoyed the videos. We learn a lot more from bad trades than we do from good trades.
Stops can be annoying if not placed correctly. Try to place them at the low of wicks and beyond a support or resistance area. If your stop loss is going to be way too tight and unsafe, either widen the stop or skip the trade. Your site has made me understand and absorb things that I took more than 1 and a half year to understand. Straight to the point. Gonna apply this in my 2nd account as my first account was zero-ed by silly mistakes and bad signal provider.
Thanks, glad I could help! Good luck with your second account and let me know if you need any help. Entered using a market order. Many of the other people taking these trades in the forum used a limit order though. I watched a lot of your videos. I like especially the webinars. Your strategy is so easy and successful.
I want to practice it. Can you simulate 8 h charts with it, too? Thank you so much! Looking forward for the next Video! Have you tried ChartIQ? Especially the part of moving the stop loss to the starting point once the first taget is hit.
I am a big fan of splitting my targets. It allows me to lock in profits early. I literally cannot lose any more so I am not too worried about the outcome. Hi Nick, very useful video thank you! Do you set an alarm for the first take profit? Yes, I usually set an alarm. I do not use MT4 as I do not like it.
However, from what I remember MT4 has in built alarms. For the next video, maybe put some loss trades too, especially that contain mistakes that commonly made by newbies of this strategy. There were no losing trades last week. If there were, I would have added them. I always look at losing trades as you can learn a lot more from them. Do you know of any good mobile platforms one can use that gives you, 4h,6h,8h,12h and Daily charts. Also a platform I can connect my Alpari mt4 account with.
I would appreciate your help. Thank you for your teachings and really appreciate your videos. Just a clarification question; can we use support and resistance lines drawn on the 4 hour chart for trading on the Daily chart? Many thanks for your response. Yes, you usually can. However, as market conditions are changing a lot at the moment. I am finding that at times Daily requires different support and resistance.
Try drawing different support and resistance on a daily chart. If you see that they do not match up with your 4hr support and resistance, then use the daily ones.
It is a two and a half hour long webinar on support and resistance.