Are looking for a trading opportunity?

[ituglobal]

“Active trading requires increased mental capacity. But your IQ doesn't need to break the bank. You can increase your mental capacity through practice.” – Joe Ross

Traders often check the markets to look for trading opportunities. When a discipline trader fails to find a good setup in a market, she/he mayn’t trade or look for trading opportunities in another market.

It’s bad to attach ourselves to a single market, trading it when the market is choppy or trendless. When it’s not clear which direction the price may go, we shouldn’t trade, or we should look elsewhere. Yes, there are good trading opportunities elsewhere. It’s good to look for the markets that are easier to trade – the markets that are moving predictably. When we want to trade good setups, we’re not fearful, for we know how to control our risks. “Fear is one of the greatest enemies to success,” says Reginald Mengi. We want to trade in a way that enables us to have average winners that are much bigger than average losers.

It’s amazing that strategies with low hit rates can produce good results when winners are allowed to run. Super trades have made fortunes with strategies whose hit rates are low. Why would you be emotionally attached to a market that’s too difficult to trade? Why must you suffer in one market when there are wonderful opportunities in other markets? Our aim is to make money, not to attach ourselves to a market that’s difficult to predict. Attaching ourselves to a market is not sensible if we can’t make money from that market.

Those who transact in physical markets like automobile markets or cloth markets mayn’t be able to do this, but online traders can look for any markets where they find interesting opportunities. I laugh when news trading addicts ridicule chart analysts, for they tend to forget that the news releases they worship can’t guarantee what the market will do in the next moment. We’re not concerned with economic figures but we’re concerned with the effect those figures would have on the market.

This article is ended with the quote below:

“Every time I have lost badly, it was because I violated at least one of my rules.” – David J. Merkel

 

[radex78]

Many forex trading system in forex, and usually each trading system also have own rules how tro determine entry and exit point, violating rules system tarding is bad habit and maybe will making system can't work properly, , but however not all system tarading work well and need forward test on certain period of time, demo account also useful for trader.

 

[Saska]

I know that working with demo account is not interesting and boring. You had better get freshforex no deposit bonus for an article. You can combine two deals. When you writing article you study theory, and receive money to your account.

 

[radex78]

Yes I am looking for trading opportunity in my trades, although the market seems very dynamic movement but we here using our brain to analyze the market and will seking the best timing to enter in the market, although not always accurate but we trading forex is not gambling, we need loking for good opprtunity in trading

 

[ijak8510]

Yes I am looking for trading opportunity in my trades, although the market seems very dynamic movement but we here using our brain to analyze the market and will seking the best timing to enter in the market, although not always accurate but we trading forex is not gambling, we need loking for good opprtunity in trading

to find a good opportunity , i usually used classic analytical methode. because old tricks never died
old school technique like chart pattern ,still realible till now ,and i quote an article from brokerarena educational articles

..........Chart Pattern is a graphic pattern which is made of concepts of the Trend Line and Support & Resistance. This pattern is basically formed by the understanding of traders throughout the world in identifying and responding the happening situation and condition.

In the beginning, Chart Pattern was not something taken seriously in case of technical analysis until 1920s when an accountant named Ralph Nelson Elliot brought up his observation about the relationship between basic concept of Support & Resistance and price tendency to form a pattern. What he put forward had confirmed the existing assumption that humans have similar feelings or emotions for a certain condition or situation. Based on the assumption, Elliot predicted that humans reaction (read: traders) will be identical. It makes a particular pattern recurs until the nature of it is possible to predict or understand.

Actually, Chart Pattern is a more specific form of a trend phase. Chart Pattern summarizes the whole activity perspectively and formatively. It is perspectively because the formed pattern will depend on who is looking at it and formatively because it contains particular formations of price movements...

 

[profitforex1]

Yes, I wanna be a good trader if forex market. But this market is too much dynamic. sometimes it's very bad for me.

 

[Alexfx79]

Yes, I wanna be a good trader if forex market. But this market is too much dynamic. sometimes it's very bad for me.

That's why you should learn to be less emotional and more logical.
It was very difficalt for me at first too, but after some months you just get used to it and are not nervous about high volatility. It's normal for the market.
Just have patience.

 

[Winjak]

That's why you should learn to be less emotional and more logical.
It was very difficalt for me at first too, but after some months you just get used to it and are not nervous about high volatility. It's normal for the market.
Just have patience.

Yeah... Sometimes it's hard to tame your emotions but it's necessary for the whole work on Forex! Mastery comes with experience. The more you'll trade, the more calm you'll be. You will notice these changes after some time..

 

[Alexfx79]

Yeah... Sometimes it's hard to tame your emotions but it's necessary for the whole work on Forex! Mastery comes with experience. The more you'll trade, the more calm you'll be. You will notice these changes after some time..

Yup, maybe its the matter of time
Remembering me at the start I can say I was much more nervous
Still it's hard to control everything sometimes though I have three years of experience. It's really hard, people

 

[Ary Barroso]

Many forex trading system in forex, and usually each trading system also have own rules how tro determine entry and exit point, violating rules system tarding is bad habit and maybe will making system can't work properly, , but however not all system tarading work well and need forward test on certain period of time, demo account also useful for trader.

You are right, there have so many trading systems are out there! But all of trading systems are not capable to make money regularly! In order to my trading experience, Price Action trading is one of the most powerful trading system so my trading foundation is Price Action.