Well i would be lying if i said there is a cut and clear way but what you new folks want to do is practice predicting on paper where price is going.
then run it thru a full demo process.
there are really good ones that have a ton of confluence and until you get good at it you want to concentrate on only those.
to answer your question its really about entering near the pivot which gives you a small stop size. here is a chart of what i would consider a really good touch trade set up.
I trade them more risky cause i know what im doing and never forget one thing.
30 pips to me is probably worth more than 30 pips to you. Getting out or to breakeven is easier with a large account.
then run it thru a full demo process.
there are really good ones that have a ton of confluence and until you get good at it you want to concentrate on only those.
to answer your question its really about entering near the pivot which gives you a small stop size. here is a chart of what i would consider a really good touch trade set up.
I trade them more risky cause i know what im doing and never forget one thing.
30 pips to me is probably worth more than 30 pips to you. Getting out or to breakeven is easier with a large account.
Jim, thanks for the clarifying 2nd chart, the first chart was a bit cryptic for this newbie.How do you enter these touch trades? I imagine you have your SL above the touch line, but when/how do you decide it's headed down and thus time to get in? Thanks.
