[Trade to Win] EURUSD: for Beginners and Other Traders
The following is a post from a highly respected, long-time member of the Global-View Forex Forum (and veteran trader) geared towards beginner traders but with levels and insights that should be of value to other traders as well.
So, take a look and then click on this link FX Artist Treading Signals if you have interest in seeing what Bobby offers or to contact him directly.
BelgradeBobby08:55:40 GMT - 09/15/2023
Educational material :D
Resistance at 1.06800 and 1.07200 Support at 1.06500 and 1.06350
So what to do with these numbers ?? Well, you decide first are you a bull or a bear ...then you make a strategy based on the given bracket right now...how much are you ready to lose and what would you like in return for that risk...don't be shy, but do not dream about getting rich overnight. One example : Sell at 1.0680 , Stop at 1.0685 - target at 1.0650 - R/R in this case is 1:6 , and if you would continue using this strategy , in case you have been wrong 5 times and right only once, you would be in the profit.
This is simple...but does this work...well yes, but only if you really obey your own rules of engagement and have correct supports/resistances to rely on .
So how to get those??? Everyone is throwing some numbers here and there , but only few are correct...most can be misleading ...but are they...or you are following it using a wrong time frame...Well, it comes down to your own ability to draw charts and properly read them...or find someone who suits your own style of trading and can support you with missing parts...
Trading is not something that you can just pick up on the go , and you need years and years ( really decades ) of education, experience , talent to be able to successfully profit out of it. That is why you need us dinosauruses , to help you on that journey . We all have different styles , approaches to the same problem, backgrounds , but at the end of the day we do come with the same conclusion and sometimes even results using totally different systems . You can use all of that, but do not mix it too much - at least not at the same time.
P.S. we do have new kids on the block, so we better take it into the account and not just forget that we were those kids once upon a time :D EditDelete
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