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10 Essential Tips For Novice Traders - Online Forex Trading
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[QUOTE="George A, post: 52933, member: 28088"] Kuazlan ,, Thank you for your caring input for alot of the new traders , and i agree with alot of what you have said , as there is a reality to alot of it . I would like to highlight 1 point , and it is about day trading success . Some pairs have a great daily average range such as euro/yen 136 pips approx. Also one needs to take into count that generally we get 2 to 3 intraday swings in a 24 hour session with a nice reversal many of the times , and often we see range of above 50 pips ( 15 mnt charts ). 50 pips is NOT little amount of pips in any one's books , and should NOT be taken lightly in my opinion , and that is ONLY 1 range . and also the fact that EVERY range and retracement IS mathematically calculated and IT IS based of FIBS retracement and/or extension , which means IF one knows there fibs well enough , and most importantly know how to apply them ,, AND have done enough deep studies about market action and how would unveil through the daily range , i can GUARANTEE you , one can really clean up using a compounding system , and once the FIRST trade is in place and runs into profit, then every other trade for the day CAN be done with ZERO loss chance , now some will knock this , and this will only happen due to human nature when one can NOT , OR do NOT know HOW to do something , and i have NO problem with that. I see this working day after day and swing after swing during any 24 hour day , and on every pair i look at . and for the last maybe 12 months , i ONLY put in a minimum of 8 hours a day watching , studying , and analyzing market action , and YES you can say i am EXTREMELY passionate about trading . I feel maybe day trading did NOT work for you , BUT that does NOT mean it will NOT work for anyone else . Everything i said above is with all due respect to you Kuazlan , as i was NOT in anyway knocking what u said OR how u trade !!!!!! Cheers, George [/QUOTE]
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