Recent content by tradingcurrencies

Hello! Now I will discuss an important part of any trading strategy: the exit method. I want to highlight this topic since it doesn’t matter how good your entry is if your exit is bad. When you open a position you take an “entry”. When you close a position you take an “exit”. The exit method I...

Hello I would like to share a blog post here: This post will be about a basic trading setup: trading reversals at price levels. When price reaches a level three things can happen: reversal, consolidation or break through and continuation. With this setup we try to “catch” price reversals in...

That doesn't mean that the EMAs are bad.

It is easy to find a broker with good spreads, execution and ECN. Problem solved. My main problem as a currency trader is taking too many trades.

Learn price action analysis if you want a profitable approach to the forex market. Study market structure, supply -/demand -/support -/resistance zones, trend and momentum etc. Maybe look at EMAs and trendlines for secondary analysis. How you trade based on these factors is up to you. If you...

Backtest your strategy in a simulator to gain more confidence. Best regards Henrik Thorstensson

Many people use moving averages in the currency market. Especially EMA14 and EMA50. You could use EMAs for several things, for example you can open a position if price respects EMA14 in M15 after a move in the direction of the trend. Best regards Henrik Thorstensson

I am not allowed to promote my blog, forum rules.

I am from Jönköping, Sweden. I trade currencies (scalping).

I think all manual traders should have a detailed trading plan. It helps with discipline, in my opinion it is easier to follow something that is written down. In my trading plan I have exact rules for entry, exit and position sizing.

I believe many retail forex traders lose money because forex trading is easily accesible. Using too much leverage is also an issue. In addition to this I think there is a lack of good education about currency trading. A lot of education comes from forex brokers who just want you to buy and...

The best "indicator" for scalping is price itself (price action). Try to look at support -, resistance -, supply - and demand zones. Those are intervals where price has reversed once or several times. Also pay attention to trend and momentum. Have candlestick patterns as an entry trigger...

There are trading opportunities with very high probability but no holy grail....

Hi It is nice to be here at the forum. I am a 25 year old Swedish day trader, I only trade the currency market. I recently started a non-commercial blog (available in both English and Swedish) about currency trading with focus on scalping. The adress is: https://www.tradingcurrencies.se/. I...