Large part of profitability is the spotting of trend, and that is difficult
- Thread starter metatrader54
- Start date
there are various types of trends.
Let me give extreme examples.
Yesterday during Eur session, crude oil was very trendy.
So very easy to earn money.
Now try to analyze yesterday's gold chart.
this is the type of market you have to avoid trading.
Those who day traded gold would most likely lose money.
of course, professional traders/writers will use thousands of
indicators and draw lines and curves and fans to trade it.
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Markets have 4 states, trending, ranging and 2 others.
You have to figure out which state the market is in, and trade only if your strategy can make money in that state.
You should trade NQ instrument 'cuz NQ intraday trend is often strong. Once you miss it in US session it's hard to wait for another entry point unless you are a scalper. The problem is that almost all beginners don't have skills to identify trends at early stage of making until it becomes too late.
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Some think that may be a trick question/LOL. That band of blue is a good trend; the lower one also= if I had of ''known'' UPRO was trending that strong/ would have let profits ride longer............................................................................................Live + learn.
Sorry most SEPT months are down in the stock market; but we may cross that bridge when we come to it
A guy (Polish who thought he was Italian) my younger brother used to work with would say about his teenage daughter, effen a she don'ta listen ina one ear and ina the other. My brother just laughed and never corrected him because he didn't think it would help any.
Like some of the posts I read here and many other trading related topics.
Like some of the posts I read here and many other trading related topics.
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THAT CAN work/LOL
For adults, also throw the chart on the floor+ stand up on the desk. ............................................You can exit early or late/not rocket science.