One thing that has really helped me to grow as a trader was to understand that “Forex was here before me” and any attempt trying to take more than its willing to give is very disrespectful.
Hey stick to 20 -50 pips daily depending on what you backtested with and look forward to each day! Don’t ever think you’re losing out because the market is suddenly falling after you have taken your “Daily dose of the market”
It is important to study the daily pips movement for the pairs you’re trading.
Take for example, for a pair which naturally moves 96 pips daily, moved 71 pips during the Asian session. it is going to be difficult to trade that pair successfully during the London and New York session because for such a distributive phase we expect to see accumulative phase of the market.
Just go and study daily range and average daily pips movement for the pair you are trading and also market phase. Last year GBPUSD moves 127 pips daily.
Note: Although there are some case in which the price will move more than the regulated daily pip movement but it is very rare.
Hey stick to 20 -50 pips daily depending on what you backtested with and look forward to each day! Don’t ever think you’re losing out because the market is suddenly falling after you have taken your “Daily dose of the market”
It is important to study the daily pips movement for the pairs you’re trading.
Take for example, for a pair which naturally moves 96 pips daily, moved 71 pips during the Asian session. it is going to be difficult to trade that pair successfully during the London and New York session because for such a distributive phase we expect to see accumulative phase of the market.
Just go and study daily range and average daily pips movement for the pair you are trading and also market phase. Last year GBPUSD moves 127 pips daily.
Note: Although there are some case in which the price will move more than the regulated daily pip movement but it is very rare.
My telegram: https://t.me/avidforex
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