False breakouts frustrate many new traders. Pros know they are a part of trading and a huge opportunity. Here’s how to use them to your advantage. You come up with a trade idea based on an important technical level. It...
The Renko chart type forms bricks of a certain size, and only forms new bricks once the price moves that amount. This helps filter out price noise, and can be used as a trailing stop loss. The forex market can...
Price action based trading relies solely on the price chart for making trading decisions. Price movement is the purest indicator traders have. Price determines profit and loss, nothing else. Price action traders believe the price tells you everything you need...
When day trading forex, I use this strategy to capitalize when the price of the EURUSD nears the session (London or New York) high or low. There are typically stop orders clustered above the session high and below the session...
Which pairs you opt to day trade or swing trade will depend on your trading style. We’ll talk a bit about that, and then discuss which forex pairs to trade. Main Takeaway Points 1-minute chart day traders, focus on trading one pair...
When trading foreign exchange (forex), position size is immensely important. With brokers offering 50:1 leverage, or even more in some countries, taking too big of a position size can wipe out an account in seconds if a big price move...
A stop loss order helps control risk. A stop loss gets us out of a trade at a predetermined price or loss amount. Most forex brokers call the order a stop loss, which means we just need to input the...
Trading Courses
My Favorite Charting Platform
ECN Forex Broker (for non-US residents)
