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FX Recommends - Trading Skills 51-60

Discussion in 'Forex Discussions' started by fx-recommends, Jun 29, 2009.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    51: You can make good profits on the risk control you do. It is preferred to be always with the pulse wave but if you wanted the corrective wave you should be light and you should not make an average. If you take the right risk the market volatility can make the profits each time constantly and the profits will be more than the losses but you should not be emotional on the loses this can cause a damage to your risk control especially if there is a clear break of a certain strong level. So try to save your time and your efforts and your money for the pulse one joining the pulse wave can make at least 7 winners of 10 players. But these three times of loses can cause a serious damage if there is not minded risk control with no hesitation in time. So you should always hunt for this pulse wave on the persistence of the trend on the chart and do not depend just on your risk control but you need to be patient looking for the persisting sentiment and then the corrective waves can help you and it can help you in putting your stop loss too.
    52: It is not preferred to take profits on the rate decisions, Especially, on the US assessment after the fed's rate decision. This can change the market sentiment.
    53: You have to care after the data whether there is an immanent profit taken or not if there is no profit taken this means another widely expected prolonged wave in favor of the data. There is an actual change in ask and bid on these significant data.
    54: No immanent profit taken is a clear continuation sign.
    55: Total retracement on profit taken is a clear reversing sign.
    56: You should wait at least 10 seconds after the data to start take profits on a corrective wave.
    57: The conditions of the market before the data is a very important factor in evaluation the market discounting degree which can show you the strength of the profit taken and the change of the current market sentiment.
    58: It is always recommended to make profits on your market understanding than risking your funds then you are really a professional trader. So always be wise and do not give chances to the market to drag you.
    59: do not expose yourself to the market fluctuations price during the day. It can be ok for several times but its loss is always sever to your account and waste all of your effort uselessly. You should have a direction in mind on your analyses to expose yourself our main rule is that you should have some reason to trade not some price to trade. Missing his point causing of the most loses of the Forex traders specially the beginning. Please be aware of that.
    60: you should always have a stop loss place at the beginning of your trade. Your taken risk level should be balanced that you should reduce it on the volatility not the opposite! then it is your certainty degree to trade and to close.

    Best wishes

    FX Consultant
    Walid Salah El Din
    E-Mail: mail@fx-recommends.com

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