Forex what is the best way more take Profit?
Long Hang Seng here,
almost people thinking that stop-loss= stop-loss
candlestick trader thinking stop-loss= automatic take profit.
If you want to take more profit,
you have to use stop-loss.
here is example video
Basic Knowledge of Forex Price Action Trading
Forex price action is a method of trading forex CFDs.
Currency pairs are traded based on the movement of price alone, commonly referred to as forex price action.
In price action a forex trader will predict when to buy or when to sell a currency based purely on the price movement.
In this method, indictors used to know the direction of the market are avoided by the traders.
Rather they predict the market’s direction through the price movements of the market.
The indicators basically use the price movements to define the market direction.
Instead of using those indicators traders can actually go to the basic step of analyzing market price movements.
Now various methods are used to predict the direction of prices.
The price action 1-2-3 method
The method uses three price points to predict a price breakout.
It is a simple forex trading system based on price alone.
Forex price traders often use this method for their trading.
Japanese candlesticks are chart patterns that form on price movement and are interpreted using the various different Japanese candlestick formations.
There are more than 100 candlestick patterns available in candlestick charts.
Nude candlestick charts are used by the Forex price action traders.
Traders have to study all the Japanese candlestick trading patterns before trying this method out.
Any misinterpretation can lead to loss in the market.
Forex Chart Pattern
Forex chart pattern is another method of interpreting price action.
Chart pattern trading is based on the most common chart patterns formations that are used to predict where price is likely to head next.
Each of theses methods need careful observation and very good knowledge to use them successfully in the market.
There is no such thing as 100% accuracy in forex market methods as the market changes everyday and makes new patterns.