High probability trade setups forex

High probability trade setups forex

Author: FSerg On: 01.06.2017

Play in new window Download. In this weekly video: I'm gonna share with you some tips and ideas about looking for high-probability trade setups. So let's get into that right now. Hi traders, Andrew Mitchem here, the owner of The Forex Trading Coach, and today is video and podcast number Looking for trades that will work in your favour. And I'm gonna be discussing with you, and sharing some tips and ideas of helping you to look for higher-probability trade setups.

Trade setups that are gonna work in your favour far more often than they're not going to. You see, the problem is with a lot of traders, is they don't have a strategy, and they don't really understand the market. And when I look around at different systems and different ideas that people tell me they're currently trading … And by the way, they're not making money on, otherwise they wouldn't be coming to me … And what they're doing, it kind of just doesn't add up to me. Most people are relying on a indicator.

They're looking for a line to cross over and another line on their charts. They're looking for a dot to appear on their charts or for a line to change colour, or all these type of things.

And that really is not true technical trading. You need to understand how to read the charts. You see, to understand trading properly, you have to understand the charts and look at the price. You have to understand what's happening in the market right now. And when you clutter your charts with too many lines and graphs and dots and stars, and all these things that people tend to, for whatever reason, think it's a really good idea to clutter their charts with … What you end up doing is not being able to see what's actually happening in the price, and understanding what's happening.

So it was horrible. And no wonder this person was confused, because there was just so much stuff going on. Strip that off, and start again.

high probability trade setups forex

But what is it about this trade setup right now? Even when you understand candle patterns and price analysis, you still need more than just that. You see, I'm a big believer in candle patternss and candle shapes, and where they occur.

But you can't just say every bullish engulfing in candles means that price is gonna reverse and start moving up. You cannot do that.

Likewise, if you use … Let's say Bollinger Bands. You can't say every time that the prices hit the upper Bollinger Band, it's now gonna start coming down again. It's like if you use divergence. Every time you see positive divergence, it doesn't mean to say the price is gonna forex breakout genius review reverse and start going up again, because it won't.

You have to put a combination of different factors together. And when I was sharing with my clients, just on the webinar last night … I was sharing with clients some of the trades that I've taken, and irs restricted stock options that I hadn't taken, but some nse index options price I'd seen.

Now, with the benefit of hindsight … Because at times I wasn't here, or I was sleeping … But I shared a lot of trades with clients.

Job opportunities for b.sc computer science when we had five or six different factors all showing at the same time, backing the trade up, all showing the same thing, the same confirmation … On most of those trades, we had outstanding, high reward-to-risk trades that went to their profit target, without hardly getting forex cityterminalen stockholm any draw down at all.

And it's remarkable how consistent high probability trade setups forex happened.

FX News | Weekly Video 17th of March | Andrew Mitchem

So it is all about putting those things together. You can't just rely on one indicator. You cannot bollinger band breakout system by master trader nick radge on just one or two things.

You have to start to look at the price. Look at the actual price of the currency and use round numbers. Look at the price number. What is the number of the price right now?

High Probability Trade

Like the level hedging strategy american options the price. And there's some great examples on the charts.

If you go and look at your charts, of where the price stalls or reverses, more often than not, it will happen at a round number. Now, what I mean by that is a number ending in zero-zero or five-zero. Now, go and have a look. Just try and … After you finish watching this video, listening to this podcast, just go and do that. Have a look at your charts. Scale down to the shorter time frame charts, like an hour chart or something, and see stock exchange listing rules uk time the price gets to a level and then comes back.

More than likely, it's gonna be stalling at a round number. So if you can start to add different factors, and confluence events together with the same technical strategy, and look at the price, and forget most of the indicators and wiggly lines on your charts … Forget most of that.

Get back to true price. Where is the price coming to? Where is it bouncing? Why has it bounced at that level in the past? Is there a suitable candle patterns? Are there a few other things I look at and teach? Does it have the backup of the daily strength or weakness analysis to … Let's say, a bullish on the daily chart? On the Euro, U. On a 1 hour chart when I see a bullish pattern, and it's in the same direction as the daily chart, it just adds more and more probability of your charts of success.

Now, I have an email here from a client called Alex. A high win rate, a higher time frame chart.

It's not doing too much trading, not watching the charts all day. You could do that, too. If you'd like to know more, drop me an email. So once again, this is Andrew Mitchem, The Forex Trading Coach. Have a great weekend. I'll see you this time next week. How to Identify High Probability Trade Setups theforextradingcoachblog. Daily Currency Strength Weakness 20th March Online Forex Trading Course The Forex Trading Coach with Andrew Mitchem.

Home Calculator Training My 1 Strategy For Free! Are You New to Trading Forex? Are You About To Give Up Trading? How to Identify High Probability Trade Setups March 20, By Mhel 2 Comments. How to Identify High Probability Trade Setups theforextradingcoachblog Pingback: Weekly Commentary Videos How Important Is Your Win Rate? How Big Should Your Stop Loss Be? Subscribe to my iTunes and Android Podcast.

Download your Complimentary Digital PDF eBook:. Download your Complimentary Digital PDF eBook: How long have you been trading Forex? Less than 6 Months More than 6 Months.

High Probability Trading Forex (AND 2 THINGS YOU NEED TO KNOW)

Online Video Course The Successful Trader System - Online Forex Video Course. Home Free Forex Trading Tool Free Training Webinars About to Give Up?

Products About Andrew Contact Privacy Disclaimer Login. Continuation Patterns Give Better Results June 19, Real Trading Results June 5, FOREX TRADER FREE EBOOK Download your Complimentary Digital PDF eBook:

inserted by FC2 system