Without following trend, you can’t catch the flow or movement of the market but it doesn’t mean a certain trend will stay alive all the time.
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Is it true?
- Thread starter Waylen
- Start date
Without following trend, you can’t catch the flow or movement of the market but it doesn’t mean a certain trend will stay alive all the time.
Absolutely, while "the trend is your friend" is a common phrase, blindly following it without a solid understanding of market conditions and risk management can still lead to challenges. Trends can change, and markets can be unpredictable.
Successful trading involves more than just following trends; it requires a comprehensive approach. We need to consider factors like market analysis, risk management, and adapting to changing conditions.
Successful trading involves more than just following trends; it requires a comprehensive approach. We need to consider factors like market analysis, risk management, and adapting to changing conditions.
The concept of trend in Forex. For some, it's an upward trend, for others, it's the correction of a downward trend. The important thing is not knowing where the price will go, but ultimately making money. Knowing where the price will go feels like falling into an illusion, akin to hunting rabbits. Also, the trend phenomenon directs you to a single currency pair, but why be enslaved to the preference of one when there's the option to pit two currency pairs against each other.
Because many traders perceive each pullback or price correction as the end of the trend and place trades in the opposite direction, while the trend continues and takes their orders into the minus.People always say that trend is your friend but many traders are still failure after following the trend. What’s your opinion?