Do not be misled. Trading a demo account while following the rules of your trading strategy is still one of the most powerful ways of preparing yourself for trading a live account.
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Updates
Trade idea; Eur/aud
The market found resistance a few pips below the bearish order block. The order block is the price level I expected the market to test before moving lower. As a result, my sell limit was missed.
However, I still see an opportunity that will generate profit as the price moves lower or to the expected target. I plan to go short at ...045; this level might trap the bulls and attract more bears. I will hold the trade until 1.61315.
Commentary Disclaimer: This should not be considered financial advice or a recommendation to trade or invest in any financial product. Your financial circumstances and risk limits have not been taken into consideration in the below analysis and comments.
Updates
Trade idea; Eur/aud
The market found resistance a few pips below the bearish order block. The order block is the price level I expected the market to test before moving lower. As a result, my sell limit was missed.
However, I still see an opportunity that will generate profit as the price moves lower or to the expected target. I plan to go short at ...045; this level might trap the bulls and attract more bears. I will hold the trade until 1.61315.
Commentary Disclaimer: This should not be considered financial advice or a recommendation to trade or invest in any financial product. Your financial circumstances and risk limits have not been taken into consideration in the below analysis and comments.
In trading, risking big money is not the right or safest way to make huge profits. However, viewing the market in a bigger time frame and placing a position based on proper risk management is the right and less risky way of making huge returns.
In trading, risking big money is not the right or safest way to make huge profits. However, viewing the market in a bigger time frame and placing a position based on proper risk management is the right and less risky way of making huge returns.