Hal Paling Penting Dalam Trading Forex || The Most Important Thing in Forex Trading
What matters is technical and fundamental analysis Technical is how we read the probability of where it's going We can see it by the price History price and running price Can we read the price by the history and running? Good night everyone. Assalamualaikum wr. wb. Sorry, there was problem of Indihome The signal in the last few days went ups and downs, so we must use another provider to do transaction So, we don't just wait for it, not only waiting the provider to be fixed Let's go to the market. The move is starting We already did the analysis this morning, but we didn't expose it There's crawling buyer structure and breakout When it breakouts this area, around 1766.66 So, it'll try to continue to go up We marked 1759.41 as the psychology level below When it went down, then if it breaches the psychology level It could continue to go down, even though it's at a retracement Then, the market is crawling up When the market goes up There's psychology level here After we've found that, we focus on one way We said it in the morning. If it's more than this high body and it's closed all the bodies, there's chance to go up Surely the trigger depends on what we usually use When it's starting to breakout and going up strong The first move went down Then, rejected by buyer. When it's starting to move up, be ready to order buy
If we order buy, we can't do it when it's thick with no rejection above Order after there's correction and space to take profit After it goes down strong, we can order buy See the left, it's far from psychology level So, it's a chance to continue to go up It's still far and empty After the gold breakouts, there's chance to have stronger momentum or go back to the first trend Yesterday went up, then correction a bit Someone asked, what if it breakouts? If it breakouts, we order sell at 1757. But, it failed The simulation was a failure. It couldn't breakout down It only tried to breakout, but failed. It's called false breakout Then, it's crawling up. This is a strong psychology level. There's rejection here here, here, here From all of these rejections, if it breakouts, it'll continue to go up If it formed a trend and goes back to the main trend don't oppose it Before there's down clue, don't try to oppose. Except if you're just looking for correction
Even so, we must have lots of experience. Before we do it in real account we must have basic experience At least 100 transactions in using this valid trigger When it goes down, make sure to see the pressure How far? We can take chance in this condition quickly When there's correction, we can take small chance If there's correction, we order buy with the edge as the target If it's going down strong, wait until the candle is done We can determine it after the candle is formed because we can read the candle character Surely the pressure is going up, trying to do correction Even so, we must always apply the risk management You may test it. If it goes up and if we order here then we'll test it. If it goes down strong At least it fulfills the target. We can do recovery at 250-300 pips Do recovery before it reaches 500 pips Don't just wait the candle to go back, but we must anticipate We must limit the maximum loss at 500 pips, so it's at this strong psychology level It's at 1766.66. But, don't let the SL to be touched Make sure that we try to do recovery Recovery is a technique to reduce the loss We don't do it randomly, like 1 buy, then 2 sell We reduce the loss by adding or reducing or even changing the transaction from buy to sell All need training so we can get maximum result The main thing in trading is not just analysis Analysis is the third most important thing Method is third, not first Method is related to analysis There are many analysis We can use indicators and else What matters is technical and fundamental analysis Technical is how we read the probability of where it's going We can see it by the price History price and running price Can we read the price by the history and running? Yes, we can It's like a merchant, he always know the technique that he use If he can see 3 ton of mangoes if he can do it repeatedly He'd know how much mango that he sell for each day So, at least we can understand that At least we can know the amount of the product we sold So, we read the history A clothes merchant knows the amount he sell on weekends A clothes seller knows that his products will sell more on big days He knows it by the history and the running price The previous years, his profit raised to 100% or 200% on those days So, the basic is the history We can't forget the previous price The market always goes back to its past price When the chicken price raises to 40000 rupiah one day, it'll go back to 25000 rupiah. Because there's supply and demand
If the price gets higher and reaches its saturated spot the price will turn, reversal The same as method, technical and fundamental analysis Those 2 depend on our trading style Let's go back to method. Can we see it so we can understand? We can just master fundamental. It all depends on our trading type There's professional traders who only master fundamental So, they don't care much about technical They say that technical could be just nonsense Some experts are only good at technical They don't focus on fundamental at all So, all traders who are gathering there The main thing is how we choose trading type that suits our character If we do short-term trading, fundamental has so much meaning If we do long-term trading We must also learn the technical It's better to master those 2. At least we can master from the economic calendar Don't read the news in details. It'd be too long if we read fundamental news Or related to world economy or geopolitics and so on We only need to understand the schedule of the economic calendar We're not big players. We only use small chances to order and get small profit Adjust it to your trading style and type Watch the economic calendar, which has a big effect It's not changing trend, but changing the present market condition It's if the news is released If we do short-term trading with small budget then we don't know the schedule and has a transaction there our budget could run out in a flash How to understand it? At least we must understand the schedule of the economic calendar There are so many sites, like investing.com and forexfactory.com
Let's read the economic calendar This is forexfactory.com There's date at the left, then the time There's currency. The place where the news give effect. We can choose it, there's settings Before we set it, make sure that the time here at the right of the date, we must adjust it to the system Indonesia is GMT +7, Bangkok, Hanoi, Jakarta If we don't set it, the time may be different We use GMT +7 Bangkok, Hanoi, Jakarta Save it. The time appears now. Let's go back Watch the time. Now the time is 7.44 p.m Adjust and set it the same clock as your device It's the same, so it's set. Let's go back to the calendar
Rather than looking at so many news schedule there's filter at the right Filter is for choosing what we want to see Expected impact is the impact of the news. There's high, medium, low, and non impact Choose the high and medium impact Choose the red and orange Leave the event types. Then for the currencies choose the pair that you use If you use EURUSD, click the EUR If we use GBPUSD, click the GBP and USD If we focus on GBPJPY, click those two If we use XAU, use only USD, then apply it There's date at the left here Today is 21st, so it's Tuesday Today is Tuesday evening There's no high impact released news There's no high or medium impact news There's no news schedule for 7.30, 9.00, or 8.00 p.m
Usually, the news release is always around 7.30 p.m 8.00, 8.30, 9.00, and 10.00 p.m The maximum is 10.00 p.m. There's one above them called Federal Fund Rate Statement of fund rate in America Federal Fund Rate usually has a very high impact It's always around midnight, around 0.30, 1.30 a.m The effect is big. It'll be released late Wednesday
It's on early Thursday, not afternoon Early Thursday or late Wednesday. There's no news for today not even at night. So, let the technical works Let's go back to the market It's still around this area, still can't go up strong It'll go stronger, but be careful since there's rejection starting We must consider this rejection because it could be a pressure If it's rejected up, seller will reject. Even though buyer power is still bigger, but be aware This could be a sign This could be a sign of reversing market Anything can happen. Watch the left of it
Although it's far, there's psychology level here Even though it's pretty far, we must be aware This is a strong psychology level Let's draw a line 1766 is a strong psychology level Surely the distance is not that far from the running So, when it touches this 1776.89 it could be impacted strongly Don't sell when the market is rallying up There's no strong signal for the market to go back At least there's clue, whether it's rejection changing color, or consolidation at the level. Wait for it Based on the explanation that we gave to you the trigger depends on what we use We can choose based on our style and technique To be continued....
2021-09-28 03:29
