ProTradingNow
StraightForex

Is it better to take retracement or breakout signals? (plus USDCHF signal)

buy sell forex

Hey traders, how is everything?

You know, tomorrow could be a volatile day… the FOMC statement is due tomorrow and it has proven to be the most important fundamental release, at least the one that has the most impact in the market.

So you have to be careful, because the market will go crazy if we get something different from what traders/investors expect.

I follow a simple rule, if my trade doesn’t have more than 80 pips on my favor, I just close it.

That simple!

You don’t have to break your mind creating complex rules.

Retracement or Breakout Signals?

Which one is better?

The truth is that both of them work… each one of them have their own advantages.

For instance…

You could set your order on breakout signals and go away… so if you don’t have much time, just use breakout orders.

Retracement signals tend to have a tighter SL.

So I like both of them, I dont have a special preference… As long as the signal is in the direction of the market condition, I take them…

What’s your take?

Ok, now lets take a look at my signal… by the way, it is a retracement signal.

Another signal in the GBPAUD

Forex Market

Hey Traders, how was your weekend?

As many of you already know, it was my birthday last Friday… I received a ton of emails and I really appreciate it traders…

And I want to thank you all for that!

Back to trading my friends…

You know what trading is all about right?

What’s it all about?

Its about trading the right instruments at the right time! As I said before, that’s what some traders call “luck”.

Fortunately for us there is a way of finding those traders over and over…

Now, that doesn’t mean that we are going to win all trades, its just about trading with the odds on your favor… if we keep doing the same thing over and over, at the end, we’ll get consistent results.

Ok, now lets take a look at some charts.

GBPCAD Closed + 776 pips – How to find trades like this one

Golden Ratio Forex

Hello traders, how is your week so far?

I have mentioned it before, and I will keep mentioning it because I think it could be the difference between a successful trader and a trader that will keep struggling to get good results.

Trading consistently is about choosing the right instruments to trade, and trading them at the right time.

That’s how some traders define as luck. But I’ve seen a pattern here, the more I do my analysis and make sure I trade at the right time, the luckier I get.

And it makes perfect sense, if you trade a currency pair because it has clear swings, clear levels, a good profit potential, most of the time, the market will move on your favor.

That’s it!

What we’ve got to do now is just repeat: Analyze – Determine which ones to trade – Trade

That’s it traders! That’s how the job is done!

But please don’t tell me that you are trading only one or two currencies, or that you are trading something because of the spread, or because someone else is trading it…

The only reason you should trade any instrument, its because it has both: a clear market condition and a good profit potential…

Does it make sense?

Ok, now here is what happened to my GBPCAD trade

It’s about time to start looking for trades in Gold (XAUUSD)

gold

How is everything traders?

Did you take advantage of my article yesterday about GBPCAD new signals? Please let me know.

You know something, we shouldn’t mind about the instruments we are trading…

There are only three things that we should consider when adding new instruments to your list:

  • It should have a lot of volume
  • It should have a clear market condition
  • And a good profit potential

And you are good to go!

Just don’t adventure and trade exotic currency pairs or instruments alright? Make sure you are trading high volume instruments.

I think we need to keep adding instruments, you just need to make sure you get to know them before you actually taking those trades.

What kind of instruments should we consider adding: