|
| |
 | |
|
|
Currency Trading Information Channel |
 |
|
|
| |
|
| |
|
|
Currency Trading Information Channel |
|
|
|
|
|
Day Trading the Index Futures - How to Judge Good EntriesQUESTION: If the SP futures fall through support and go straight down for another two points, and I want to get short, should I a.) enter immediately, b.) two points below support, or c.)should I wait for a pullback and then try to get short? You've got to be patient enough to wait for entries that have two things: first - a high probability of immediate gain, and second - a small potential for loss if the worst happens and your hard stop gets hit. This principle applies to all entries, and it's useful to think about it when you're trying to decide whether to enter on a pullback or a continuation of a move. Entering on a pullback offers less dollar risk than chasing the market because you can place your hard stop on the other side of support or resistance and risk only a point or two. (Of course, this doesn't mean you're going to hang around and let the market hit your hard stop if things go wrong.) Entering on a pullback also gives you a better chance of gaining a point or so in the first 30 to 60 seconds of the trade. This is important, though very few people seem to be talking about it, perhaps it's a well kept secret. I rarely (almost never) chase the market. Here's why. Usually, if you chase the market for your entry, you'll get filled about the same time the crowd's emotion is exhausted. The market will pull back and you'll have to get out immediately (if you're smart). On the other hand, if you're stubborn and you don't get out immediately, you'll have to suffer through the pullback and *hope* that the trend continues before your stop is hit. If the market gets close to your stop, you'll be tempted to move the stop away just a little bit. Once you give in to the temptation, you've got an expensive trading habit that may eventually take you out of the business. Whenever you find yourself *hoping* that the market will come back and get you out of a bad position, you really have to head for the exits *now*. Don't even think about the commission, or all the time you spent waiting for the setup. just get out. QUESTION: What if there is no pullback? If the market breaks through support and keeps going down without a pullback, you just have to be a pro and let it go. All the lost opportunity in the world won't take your account balance down, but chasing high-risk, low-probability entries will cost you. Mike Reed is author of TradeStalker's RBI Trader's Updates. He has been trading the Market for 23 years. His support and resistance numbers have been published on the internet since 1996. Mike's nightly support and resistance zones are specific and incredibly accurate. He offers an unlimited free trial of his nightly TradeStalker RBI Trader's Updates. http://www.TradeStalker.com Copyright 2005 Mike Reed
 MORE RESOURCES updated Fri. February / 26 / 2021How to Trade the Forex Market Omega Underground Comprehending Forex Trading Signals Live Bitcoin News The Currency-Market Snoozefest Might Not Last The Wall Street Journal Retail forex trading – and the Internet's role Feed Leader 2 crypto currency trading platforms shut down by New York Attorney General WWTI - InformNNY.com How to Trade Commodity Currencies in Forex Trading Moneyshow.com Learning Forex Trading From Basics Nerd's Magazine How To Find A Forex Trading Strategy That Works Best For You Nerd's Magazine EUR/USD: Euro Drops As US Bond Yields Remain In Focus Currency Live Best forex trading app of 2021: trade and invest on your Android or iPhone – Bestgamingpro Best gaming pro Bitcoin hits new high of above $52,600 before paring gains – as the currency's market value nears $1 trillion Markets Insider Will Markets Continue to Fall Next Week? Investing.com India Forex Trading Guide 2021: EMA Profit SAR System Strategy City Telegraph Daily market commentary: Share markets edged higher amid rising risk-on trading sentiment Leaprate Forex Trading News Forex Trading Guide 2021: JMA System trading City Telegraph The Fed is looking carefully at issuing a digital dollar, Chairman Jerome Powell tells Congress Business Insider RailTel Corp of India jumps 16% above IPO price in market debut Investing.com India DOVRE GROUP'S FINANCIAL STATEMENT RELEASE 1.1.–31.12.2020: A solid year despite the Covid 19 pandemic GlobeNewswire What Is Forex Trading? Forbes BRIEF-India's NSE Says Communication Around Exchange Reopening Was Done After Clarity Emerged Investing.com India Shoaib Ghauri on Becoming A Popular Name in Forex Trading THISDAY Newspapers Steep Rise In US Treasury Yields Instill A Directional Change In USD/INR trend - Investing.com India Steep Rise In US Treasury Yields Instill A Directional Change In USD/INR trend Investing.com India USD/INR: Rupee Looks To GDP Data Tomorrow Currency Live North Korea hackers want Pfizer COVID-19 vaccine for bootleg sales Business Insider USD/PKR: Rupee Holds Below 159.00 Currency Live GBP/USD recovers back to mid-1.4100s after choppy... Forex Crunch Forex Market: Unlocking Opportunities for Investors Visual Capitalist Dogecoin jumps 25% after a one-word Elon Musk tweet about the red-hot cryptocurrency Markets Insider The 6 Best Online Forex Trading Classes of 2021 Investopedia ASX to drop, US bond yields surge The Australian Financial Review GBP/INR Corrects Lower After Hitting Highest in 5 Years Currency Live Forex Brokers: Are They a Scam? | Investing | US News U.S News & World Report Money Next Forex Trading Terms You Need to Know Before Trading North Forty News A Forex Trading Guide For Beginners | Sponsored | state-journal.com State-Journal.com Everything To Know About Getting Into Forex Trading GQ Australia Facts You Need To Know About Forex Trading Forbes India The FINANCIAL - Making Money By Forex Trading The FINANCIAL Proven Forex Trading Strategies for Beginners The FINANCIAL Foreign exchange data wars heat up as rivals take on ‘Big Two’ Financial Times
|
