Ichimoku Daily Levels:
The ichimoku Daily levels are like stone walls. price hits them and stops. As you can see above price came down to the Daily Kejun Sen (black line) at 1.63258 and reversed.
You could have placed a buy order at that level with the following parameters:
Entry: 1.6325
Sop: 1.6295
Risk = -30 pips
profit target = 1.6403 (the daily Senkou...
Contingencies:
Plan for the worst and have contingencies. As was I preparing for today’s trading session, I lost my internet. But I had a contingency in place.
There are 3 main issues traders can face, in addition to the market.
1. You can lose Power,
2. You can lose internet,
3. Your computer crashes
It is prudent to have contingency plans in place for all the...
Correlation:
Correlation is a key concept and can make the difference between both winning trades and losing trades as well as good trades becoming great trades.
As those who follow me know, I trade almost exclusively the GBP pairs. Ideally, we want to see all the pairs moving in the same direction. That is a great sign that not only will the trade be successful...
How many Trades do you need?
I am often asked or advised that I should post more trades and/or have a signal service. This brings me to how many trades do you need. Understand, that enjoying the lifestyle that trading affords is always something you want to strive for. Do you want to be strapped to your computer for 8-12 hours a day? where is the fun in that?
if...
