The price of bitcoin (and other cyptocurrencies) is surging, specially in the last months which it’s been constantly reaching historical highs making it a very interesting instrument to monitor…
But is it really the time to start trading it?
Read on to see what I think about this…
Tags: Bitcoin, cyptocurrencies, Ethereum
It all comes to the reasons why to take your trades…
It needs to be a sound reason, you need to have a methodology so you can determine what risks to take and which ones to avoid…
You cant take a trade because:
- You simply thought the market was going up
- You followed some one else’s advice
- You got influenced by a market analyst
- You saw the oil price moving up, etc
The idea is to get in a trade when the odds are on your favor, when the likelihood of the market of moving in one direction over the other is greater, when you’ve got a either, a very good profit potential or a good accuracy factor…
You see what I’m getting at?
So here is the reason why I decided to trade the EURUSD…
Tags: breakout, EURUSD, strategy
At the end traders, it all comes to take calculated risks.
But what exactly does that mean?
Its simple, to take trades when likelihood of the market of moving in one direction is higher than moving over the other direction.
That’s what we call probability.
And there is also another factor…
Tags: profit potential, USDCAD
I’m a firm believer that 90% of your trades depend on your previous analysis and only 10% on your actual entry.
You can have the best entry system in the world, but if you take your trade in the wrong direction, or trade the wrong instrument, then you are doomed!
In fact, I think it doesn’t really matter what entry system you use, as long as you are trading the right instruments.
So here is how I got those 687 pips…
Tags: breakout, false breakouts, GBPNZD
In the last couple of days the market has been very very slow. If you try to find trend trades you are going to get burned…
The thing is, as always, you need to adapt to the market conditions.
The key is to find currency pairs (or any other instrument) with a clear range. Once you find it, pay special attention to the the market reacts at both extremes of the range.
Tags: Adapt, market condition, range
Hope everything is going well traders…
It’s not that I focus only on the GBP crosses… Everyday I try to come up with the currency pairs with the clearest conditions and the ones with the best profit potential…
Tags: GBPCAD, signal, trade