forex trading for dummies book

#1, you exit the trade regardless of the profits you have accumulated. . Ref(Day -1) OR BarIndex 0; printf n NewDay : " NewDay EndDay (Day! Aggressive traders may take the trade as soon as breakout happens while conservative traders may wait for a specific period or price move before entering. I dont want a protective stop too close that it is hit by fluctuations in the market that dont challenge the trade.

forex trading for dummies book

forex trading for dummies book

The intent is not to copy anybodys work but to share knowledge. 1 2 3 Reversal, you can see there is nothing complicated about this price pattern and the 1 2 3 reversal is simply a breakout of highs or lows after an impulse/corrective move in price. In fact, the pullback after the breakout can be a way to add to your position. Traders may, once they recognize the pattern on a higher time frame, drop to a lower time frame and look for the same pattern on a smaller scale. Consider a market in an uptrend and youve entered early on in the move. Over extension will often lead to mean reversion and entering a trade just prior to mean reversion can make for a painful trade. I have not done any back testing on it but I dont see how that would be an edge especially if you believe that most breakouts will fail. . You can take further action at 2R and 3R or use Fib bk forex promo code targets to scale out or exit fully at the.0 which is the length of 2-3 of the 1 2 3 reversal pattern Hope this helps and please share this trading post!