In speculative forex trading, it is wise to limit your risk on each trade to 1% of your total account size. Many new traders think this is preposterous. “1% of my account is only $10, how can I possibly make any money”, they say. While such a low exposure to risk might lack the excitement
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Day Trading
Don’t Trade Into Key Lines
During the Tuesday session, I took a quick Power Move short on EURCAD. I analyzed and justified my entry in the Live Trader community with our top Platinum students. One of the key points for this particular entry was to ensure we were “closed and cashed” well before the market reached the next key support
Trading The 50EMA Zone
Today’s Trading Tip has 2 parts: 1. Use the 50EMA. Specifically: The 50 period moving average, calculated exponentially on the close price. The 50 is one of my favourite mathematical indicators. I overlay it on basically all my charts. Understand that MA’s are not magic, and there is no combination of MA’s that produce certain
6 Tips For Using The 50 EMA
It is no secret I’m a big fan of using the 50ema as a dynamic support/resistance zone. So here are 6 advanced filters I personally use to boost the effectiveness of 50ema support/resistance. 1. Don’t use it as a stand-alone indicator. The strength and effectiveness of 50ema support/resistance varies, depending on market condition! Just like
Break & Re-Test Patterns
Recent market volatility on the daily charts has paved the way for textbook price action on the lower timeframes. Here we have the 1H chart of GBPUSD. Identifying the basic BREAK and RE-TEST pattern is one of the many many layers of confluence we can apply over our setups to provide a profitable edge in