That's quite nice to hear and like this way you could learn more about the Forex Trading it is nice way to trade with Forex.
How do I trade Forex?
- Thread starter tradingacct1
- Start date
This isn't necessarily so.
Shorter-term time-frame trading can be more profitable simply because of its increased trading frequency.
You have to backtest, forward-test and monitor these things, and know rather than guessing.
It's better to make an average of 10 pips, an average of 6 times per day than it is to make an average of 20 pips, an average of twice per day.
Win-rate and profitability are two different parameters. It can (perhaps especially in the case of spot forex with high leverage) be more profitable, overall, to have a lower win-rate.
Statistics and probability are rather counterinuitive subjects.
This book will help you a lot: The Mathematics of Money Management: Risk Analysis Techniques for Traders by Ralph Vince (who sometimes posts here).
I am ever read on certain article if london session has highest average movement daily, might around 70 pips and then on newyork session around 50 pips and lowest average movement on asian session around 20 pips althugh this not always true because market very dynamic, might good if any trader having time on london session
Can you enlighten us more about this technical trading..?
This isn't necessarily so.
Shorter-term time-frame trading can be more profitable simply because of its increased trading frequency.
You have to backtest, forward-test and monitor these things, and know rather than guessing.
It's better to make an average of 10 pips, an average of 6 times per day than it is to make an average of 20 pips, an average of twice per day.
Win-rate and profitability are two different parameters. It can (perhaps especially in the case of spot forex with high leverage) be more profitable, overall, to have a lower win-rate.
Statistics and probability are rather counterinuitive subjects.
This book will help you a lot: The Mathematics of Money Management: Risk Analysis Techniques for Traders by Ralph Vince (who sometimes posts here).
Will look through this book definitely. Thanks.
In my view day trading is extremely difficult simply because its a part of some bigger trading moves which may proceed in a several days or weeks. I'm fundamental trader and often try to pick trends that most investors are still unaware of. It requires a lot of courage and deep analytical skills as I often play on countertrends with a "half piece of information"
It all depends on perspective.
I don't, of course, dispute that intraday moves are often part of some bigger trading moves which may proceed over several days or weeks, but from my perspective that's an advantage of intraday trading, because it enables one to take "localised trades" which are in accordance with that longer time-frame directional bias, and these have a higher overall chance of success.
Fair enough - that's why our perspectives differ: that would too difficult, for me, and I make my living through amassing much shorter trades, which enables me more or less to avoid fundamentals.
I hear you there. Good luck with it. We're all trading with "incomplete information" in some senses, but your style of trading would be too difficult and complicated for me.
Absolutely, and for that we need to test each and every of them, until we find a good strategy for us.
I think need practice everyday, even use demo account if not yet ready start on real account, backtest system and strategy with trial and error and make evaluation trades might useful to make sharp skill to analyze the market