Traders, hope everything is going well on your end…
I believe that the best piece of advice a trader could get is this:
Stop trading just for the sake of trading.
You need to trade the ones that have the most profit potential, the ones that have the clearest swings, the ones where you can easily identify support & resistance levels, those are the trades that are really worth it.
Those are the type of trades that makes the difference between a trader that is still struggling to get results and a trader that is on its way to consistency.
You don’t have to spend countless hours doing your analysis, just a few minutes (even seconds) is enough to determine whether its worth it to trade any instrument or not.
So please do yourself a favor, and stop trading the same currency pairs every day… find the ones you feel most comfortable with…
Does it makes sense?
Let me know your thought about this…
Anyway, I’ll feel definitely comfortable trading any of these currencies:
I know most of you dont trade the Swedish Krona, but let me tell you, it is one of the clearest currency pairs out there.
Let me show you the long term chart:
Its clearly trading in between two levels, it was rejected from an important support level, therefor its likely to continue its way up until it reaches its next resistance level…
Wait a minute… the USDSEK spread is pretty large?
Yes, but the pip value is around 1/10 of the EURUSD for instance… so in $$$ terms, you might even pay less than what you pai on other pairs… so dont worry about it!
I actually have a trade open on the USDSEK… we’ll see how it goes.
If you have been following me for a while, you know I like to trade the GBPNZD, it has been good for us lately…
But I dont trade it just because it like it, but because the way it trades… Most of the time, the GBPNZD moves pretty fast from pone level to the other…
So its not difficult to get 500 or even 700 pips in just 1 day.
So right now it looks like the GBPNZD has been rejected from an important support level:
This means that the GBPNZD is trading in a bullish condition and long opportunities are in play.
And that’s exactly what I’m going to do, look for long opportunities.
What do you think about these two pairs?
What other currencies or instruments are you trading?
Leave a comment.