Afternoon,
I'll close the trade with the news coming out in a wee while that's enough for today.
Stay safe out there folks
I'll close the trade with the news coming out in a wee while that's enough for today.
Stay safe out there folks
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DislikedThis is when a handle is forming and it is safest to fade the SR levels.
steveIgnored
DislikedI know this question has been answered recently but I still don't get it...
Just wondering if you could explain what you mean by fading a level - Do you mean trading the break outs>?
Ignored
DislikedTo 'fade' is to take a trade in the opposite direction of the prevailing trend, that is, in expectation that the support or resistance will hold.Ignored
DislikedTo 'fade' is to take a trade in the opposite direction of the prevailing trend, that is, in expectation that the support or resistance will hold.Ignored
DislikedBirdT - to further demonstrate my ignorance, let me ask: is the "prevailing trend" the direction that the price is approaching the S/R level (which could be either way) or is it the trend I would see on SMA15-25 on W1 or D1 charts?Ignored
DislikedThanks, Cindy. I asked before and I was still struggling with it, like you.
BirdT - to further demonstrate my ignorance, let me ask: is the "prevailing trend" the direction that the price is approaching the S/R level (which could be either way) or is it the trend I would see on SMA15-25 on W1 or D1 charts?
Thanks.
DavidIgnored
DislikedThe direction the price is approaching the support/resistance. When someone says 'I'm fading here' they are saying that they are taking a contrarian trade in the expectation that a support/resistance level will hold and price will reverse/retrace.Ignored
DislikedBut isn't this the basis behind every NB trade we take here? I think this is why it is confusing us.... I mean isn't every NB trade we take a fade?
CheersIgnored
DislikedParalyzed Trading
In regards to your comment: “Seems every trade I don't take wins and every trade I take loses
This is a big problem with a lot of traders.
My only advice for this is too keep on going and forget about the losers FAST and worry about what’s coming next.
We had one trader where we had to move a losing position into another account for him because it was messing with his head so much he was starting to fault on newer trades. That’s why I like to stress closing losers promptly and moving onto the next trade in order to minimize any blows from bad positions. Losses happen; how quickly you pick up from them and get back in the drivers seat is another story. Patience, patice patience and keep the ball rolling. Have a plan and keep it in place.Ignored