accidentally tap it or move your order inadvertently. Click to enlarge If the price is forming a trade setup within a few minutes of 10:30 AM (or Im still in a trade Im allowed to trade it, extending my trading session slightly. Pick one method and stick with. If youre dividing your time, juggling trading and work, youll achieve your self sustenance in forex trading more than a few tens of years. As long as it has lots of volume and some movement every day, you can make a living from. Since I only day trade the eurusd when forex trading, I find my average stop loss is about 5 pips, and my average profit is about 8 pips. Trust yourself and the work youve put.
Trading candlesticks strategy
Before I start trading I make a text note on my chart of when the news events are so I can step aside during those times. You cant trade 3 contracts because then youre risking 3 x 50 (or 150 and thats too much. I dont calculate my position size for every trade though. . If you start out the day well and make a quick 1,000, but then give 500 back, quit trading for the day. Walk away when the market sours. My strategies are designed for the market(s) I trade, and are fine-tuned to the hours I trade. I use the same time frame on both charts, but typically my second monitor is a little more squished than my monitor that only shows a 20-point region on ES or the 60 pip region on eurusd. If you want a bit bigger picture, keep your same time frame and just zoom out your chart a bit. Day Trading Cheat Sheet Monitors, Mice, Drawing, Screenshots and Hiding the Irrelevant I will briefly point a few other things I like to do/have while day trading. So in this case, always trade 2 contracts. By combining these tactics with your own day trading process, hopefully they help you develop more efficiency and/or consistency.
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