Trading Fakeouts - Forex Hacking

Just some inspirations / reminders on strategy development

I just talk about really major pairs like EURUSD, USDJPY, etc.
Forget about catching a trend, if you wanna trade trends, commodities, stocks, index funds trend way better, a lot more opportunities than forex. Major currencies range at least 70% of the time, if not more. Learn how to make money from ranging markets and hold a trend once you catch it.
The biggest purpose of currency is for settling transactions, not for scalping profits. That's why it doesn't trend (aka remaining stable). Stability is why a currency being "major".
Therefore most indicators don't work well with these currencies because first they are not designed for forex, second most of them only tell trends or overbought/oversold. Unless you are Soros or central banks etc no major currency can be overbought or oversold.
Take advantage of "fakeout" (I still wonder if it's the right way to call it so, Trump's Tweets are one of the sources IMO). Accept the fact that it happens and think about how to profit from it. Market makers and big banks are also just market players, even though very much bigger, they are also profiting from each other. If you can't beat them, join them.
Choppy market is still better than a still market.
No market maker cares about support or resistance. Like no insider or institutional money (i mean human not machines) would spend hours and hours on charts drawing trend lines before they place an order. Why would you?
Planning how to react in different scenarios after a position is opened is much better than trying to act like a crystal ball by looking at history when you trade something that ranges most of the time. The moment you observe a trend, chances are the trend is (almost) over. Even if things are against you, most of the time you can turn it to break even without using lots of margin. (Most news are just as big as baby's cough.)
But still, very few news are really big (911, fukushima, brexit, covid, name it), don't ignore the news completely.
Money management is very important. Most traders (of course including many of those on reddit) just talk about how to make an entry but seldom talk about how to manage an already open position or how to close a trade. The latter is way more important than the former.
Besides japanese candlesticks, there are a lot more charting options out there.
Be creative and know what you are trading to the deepest !
submitted by cindyhont to Forex [link] [comments]

The State of Trading (in the Bitcoin Markets)

I wanted to make a post of my interpretations of current state of sentiment and trading in the bitcoin markets and see if others share similar views:
1) Since mid-January (9months) we have been rangebound/trendless/sideways essentially between $200-300 with fakeouts to the upside and downsides. There certainly has been a general loss of interest by traders as many have turned to trading other markets -- here is a TradingView Chat activity of Bitcoin VS Forex VS Stocks and indexes: http://imgur.com/8LyeHjt
2) Volume across exchanges doesn't seem to be waning that much which would be indicative of what we would see in the despair phase of a bear winter -- I am not suggesting this as any inflection point or calling an end anytime soon™. We are also seeing the rise of Skynet again as it appears Bitstamp has bought the ever effective Star OKCoin volume washing bot: http://imgur.com/q6EAkle -- we also see the return of the random 10k BTC candles appearing again on OKC spot which used happen almost daily.
3) The traders/degenerate gamblers are/were the last people still interested in bitcoin in such a committed way IMO -- yes there are those 21inc companies and blah blah but really I don't know anyone else who is still waking up to bitcoin price alarms or forgoing activities with real life friends when price action calls. And now we are even seeing some of this interest wane as I believe the ramping up volume washing bot activity is the Casino trying to keep the lights flashing and the sounds blasting so that we keep wanting to play the game. Take a look at the volume on Stamp when it introduced that MM bot: http://imgur.com/MZdxIdp
submitted by BTCVIX to BitcoinMarkets [link] [comments]

How to avoid fake break out entries in forex market - YouTube How to trade Fakeouts and failed breakouts HOW TO AVOID FALSE BREAKOUTS & FAKEOUTS in forex & make money from trapped forex traders Naked Forex: Fakeouts and Breakouts (Find Clues Here)

As such, the generation of fakeouts for a percentage of the time supports this viewpoint of forex trading well. Fakeouts basically happen because the forex market is extremely liquid, and while some people will give a lot of weight to certain support and resistance levels, others will not, and hence the market will move in unpredictable ways. Consequently, you certainly need to use a good ... In the next section, we will dive deeper into fakeouts and discuss why we should trade them and how to profit off them. It’s not enough learning about breakout strategies because there will be times that breakouts FAIL. We have to know what to do in case of fakeouts. This is part of your Jedi forex training. To be a Jedi master, you must be able to master fakeouts. Are you up for it? Next ... Trading fakeouts or, trading false breakouts, is an aggressive trading strategy. If the market gets near a technical level that has not been broken for a while, and then pushes through it, it doesn’t necessarily mean that the market is going to carry on in the direction of the breakout. Actually, the market is more prone to make false ... False Breakout Strategy in Forex Trading. In order to stay disciplined when trading fakeouts, you should create a specific set of rules that will guide you when these patterns occur in the market. Entry Point when Trading Fakeouts. Timing your entry is critical when trading fake breakouts. When you see a break out of an obvious level, and the ... In conclusion, knowing how to trade “fakeouts” can significantly impact your chances for success and make a distinction between amateur and professional trading. That’s why learning to identify and trade false breakout patterns can take your trading to the next level. If You Want to Become a Successful Forex Trader, You Must Join AndyW Club. How to spot Fake outs Forex. A Fakeout (Fake Breakout) is a form of manipulation to trap breakout traders. If a breakout trader sees that there is a big breakout that breaks through a strong resistance or support, he thinks it will continue to break into the end of the world. However, the price makes the reverse and then it comes back to the stop loss of the breakout trader. Trading Fakeouts. Institutional traders like to fade breakouts. So we must like to fade breakouts also. Are you going to follow the crowd, or are you going to follow the money? Think, act, eat, sleep, and watch the same movies as these guys do. If we can trade in the same way the institutional players do, success is just a glimpse away. Fading breakouts simply means trading in the opposite ...

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How to avoid fake break out entries in forex market - YouTube

How to Know When Prices Will Breakout, Instead of a Fakeout (False Breakout) - Forex James - Duration: 12:55. Forex James 116,873 views My live trading room, weekly trade alerts and premium courses: https://www.tradeciety.com/masterclass/ Free cashback deal (terms and conditions apply): h... HOW TO AVOID FALSE BREAKOUTS & FAKEOUTS in forex & make money from trapped forex traders ... 95% Winning Forex Trading Formula - Beat The Market Maker📈 - Duration: 37:53. TRADE ATS 1,286,953 ... in this video i ll show you how to avoid fake break out signals in forex market, we can see some break outs just shadows of higher time frame candles, i ll l...

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