Dear All,
I am very new to this and have been trading live for a few months.
I've found that I prefer, and am more comfortable, with trading using daily charts and a typical trade will last several days or even a week. This way I'm not glued to the screen panicking over every little move and I can try to have a life.
I've been trading the USD/ZAR reciently with good results. It seems to follow the MACD and Stocktastic indicators predictably and - over a few days, one can make a reasonable, for me, profit.
It seems as though the USA/ZAR has the right quality of volatility (movement) over time that fits nicely into trading over several days.
I've also noticed that some symbols move far too quickly for my comfort and need to be watched more intently over much shorter timeframes or, because of their volatile nature, you need to set stop points that are very risky.
My first question is are their any other symbols that respond in much the same way as USD/ZAR over several day time periods?
My second question is that when I enter a trade - I think very carefully about my stop & limit positions and look for a nice ratio of potential gains to potential losses. However, I find that when I get close to either my stop or limit points - I start to 'chicken out'. I get more and more agitated and eventually will close the trade before either of these positions are reached. Yet I've thought them out before. Closing 'early' is reasonable if a trade is obviously going bad - but otherwise how do I keep calm and let the trade play out? any ideas?
Many thanks in advance,
Chris.
I am very new to this and have been trading live for a few months.
I've found that I prefer, and am more comfortable, with trading using daily charts and a typical trade will last several days or even a week. This way I'm not glued to the screen panicking over every little move and I can try to have a life.
I've been trading the USD/ZAR reciently with good results. It seems to follow the MACD and Stocktastic indicators predictably and - over a few days, one can make a reasonable, for me, profit.
It seems as though the USA/ZAR has the right quality of volatility (movement) over time that fits nicely into trading over several days.
I've also noticed that some symbols move far too quickly for my comfort and need to be watched more intently over much shorter timeframes or, because of their volatile nature, you need to set stop points that are very risky.
My first question is are their any other symbols that respond in much the same way as USD/ZAR over several day time periods?
My second question is that when I enter a trade - I think very carefully about my stop & limit positions and look for a nice ratio of potential gains to potential losses. However, I find that when I get close to either my stop or limit points - I start to 'chicken out'. I get more and more agitated and eventually will close the trade before either of these positions are reached. Yet I've thought them out before. Closing 'early' is reasonable if a trade is obviously going bad - but otherwise how do I keep calm and let the trade play out? any ideas?
Many thanks in advance,
Chris.
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