im always guessing when to enter a trade
Long hang seng here
Hi Long thankyou for your quick responce ive never heard of oanda gmt+ 2 live I use metatrader for my charts
but use a different broker for my trading
Thats the reason im always loosing money im always guessing when to enter a trade.
Could you possibly explain a little more of the oanda i would be very grate full
It tells you exactly how to exit a trade. This means stop losses.
that automatically get you out of a trade when the market you’re in hits a certain price.
It also defines exactly how much of a loss you are willing to take on a certain trade.
This must be determined before you enter a trade.
If you don’t put a stop loss in your brain will justify your position over and over
to you while your hopeful trade ends up losing you your house.
This is even more important than a strong offense—don’t go broke!
Adding to a position. Sometimes you may want to make your position bigger as the market moves in your favor.
You need to have a set of rules determining how you’ll do that.
Don’t complicate it.
The more complex I made my system the worse I did, over and over.
I would start simple, screw it up by adding a bunch of things people recommended,
then go back to the drawing board. The best method I ever used was dead-simple
that’s the one we’ll get to in a little bit.