Medical Book

Buy Textbooks | Autoclaves | stethoscopes | Buy Books Online | Buy Medical Textbooks | Textbooks | Equipment | Nutrition | USMLE | MRCP | MRCS | Dental | Sport Medicine | Cardiology | Medical Textbook | Surgery | Pregnancy | Anatomy | Radiation | Pedia |
HomePublicationsRegisterLog in


 Surviving a wild forex market

View previous topic View next topic Go down 


Male Posts : 669
Birthday : 1990-05-18
Join date : 2014-08-16
Age : 29
Job/hobbies : forex

Surviving a wild forex market Empty
PostSubject: Surviving a wild forex market   Surviving a wild forex market Icon_minitimeMon Oct 05, 2015 4:34 pm

Emotions can run very high during volatile trading. There are a few simple things you can keep in mind that will help you succeed and stay in the game when the markets are wild.

1.  Avoid catching a falling knife
Trying to pick tops and bottoms is a number one mistake. In wild markets, a couple of “failed hits” can cost you tremendously in a very short period of time. Stick with the trends that are obvious, don’t try to predict the turns before they happen.

2.  Trading Small is Better
It can be tempting to make a large trade to try to reel in the big score. The problem is when markets are crazy and lacking they can backfire or whipsaw without warning. If you are trading small, it will give you more tolerance for dealing with market noise.

3.  Place stops cautiously
Stop placement in a wild market can be tricky. You don’t want to place your stop too close to the action and get stopped out too easily, but you don’t want to place it too far out and chance a heavy loss. Placing your stop is a personal decision depending on your trade size and risk tolerance. Give your trade some room to breathe initially and move your stop close to the action as it becomes appropriate. Never move your stop further away thinking price will turn shortly.

4.  Stick with one direction
When trading is moving back and forth so furiously, it is tempting to try to trade both ways and make twice the profit. This can be really dangerous because you can end up stuck trading the wrong direction at the wrong time. Stick with the overall trend and don’t change directions until you are confident that the trend has changed.

5.  Get out when the market is at extremes
When prices are crazy and reaching levels you never thought you would see, it is a good time to consider getting out of your trades and taking some profit off of the table. This is not to say that the market may not come back to this point, but it will allow you to collect your profit at a good point and it will give you a chance to step back and evaluate the situation.

Back to top Go down

Surviving a wild forex market

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Medical Book :: Forex :: Forex Education and Learning-