❔ I have a permanent job outside, what is my best opportunity in the market

❔ I have a permanent job outside, what is my best opportunity in the market

17 March 2020, 20:09
Yohana Parmi
9
512

Dear traders,
greetings.

"I have a permanent job outside, what is my best opportunity in the market?"

  1. Select a few pairs, especially for major currency pairs,
    to create a trade plan,

  2. Observe where SR as actual stronger SR
    that has not been touched by the price to apply reversal technique,

  3. For example in the right picture,
    -- choose the actual support level
    -- that is close to AWM (Avg. Weekly Moves)

  4. Place a pending order: buy-limit there, and
    set at least to 1st resistance above current stage as a target.
    -- and set stop-loss 20 pips below next support 
    (next support is an actual level below AWM)
    or you can even able to use this technique 
    by setting break even as stop-profit

Your patience, sooner or later, will pay off.
-- at least more than 70 pips++ is not bad :)
-- or even more when the trend could changes there.





Patience is an important key for traders.


  • By that way you don't need many hours in front of the chart.
    -- Then you can continue your daily activities at work.

    .. discussions with students continues ..

"but, I do not believe in buy-limit order, .."
".. I am worried that prices will fall further from that position."

-- That indicates you don't know very well how the market works on the actual SR :)

"NO, because of me often experience of bad situation with limit orders."
".. that is my reason why I do not believe in buy-limit and sell-limit."

-- It looks like you are still using the old technique of determining levels for support and resistance,
-- so that placing your order limit is become a mistake.

Whatever your way in dealing with the market, or even familiar with the SR strategy,
-- then certainly you need the actual SR and 
-- include the support of instruments to monitor price movements in the market.

  • That's why, pending orders such as buy-limit and sell-limit
    are always be provided by all trading software :)

In 2020, it's time to leave the old techniques.
good luck

Kind regards.



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