Resistance at 1.09450 Support at 1.09200. 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 1.09420 , Stop at 1.09470 – target at 1.09220 – R/R in this case is 1:4 , and if you would continue using this strategy , in case you have been wrong 3 times and right only once, you would be in the profit. But in the case you are wrong 2 times and right 2 times , your profit will be hefty. And that is a Probability of only 50%.
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 proper and SIMPLE explanations and insights , 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.
Our new addition to the Blog will be made to answer all your questions regarding trading. We will put in our joint , vast and cumulative experience, combined with all the different styles and approaches to support your trading development and knowledge.
We will include the basics ( there are total newbie’s out there, and it is only fair to support them as well ) , and slowly get to the more serious aspects , all the way to creating own systems and even Algo’s.
We will go parallel with basics and advanced articles, so you won’t need to wait too long.
Stay tuned, visit us often and be the first to know 😀
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