How to Detect Forex Fakeouts - Forex Reviews, Forex News ...

Just some inspirations / reminders on strategy development

I just talk about really major pairs like EURUSD, USDJPY, etc.
Forget about catching a trend, if you wanna trade trends, commodities, stocks, index funds trend way better, a lot more opportunities than forex. Major currencies range at least 70% of the time, if not more. Learn how to make money from ranging markets and hold a trend once you catch it.
The biggest purpose of currency is for settling transactions, not for scalping profits. That's why it doesn't trend (aka remaining stable). Stability is why a currency being "major".
Therefore most indicators don't work well with these currencies because first they are not designed for forex, second most of them only tell trends or overbought/oversold. Unless you are Soros or central banks etc no major currency can be overbought or oversold.
Take advantage of "fakeout" (I still wonder if it's the right way to call it so, Trump's Tweets are one of the sources IMO). Accept the fact that it happens and think about how to profit from it. Market makers and big banks are also just market players, even though very much bigger, they are also profiting from each other. If you can't beat them, join them.
Choppy market is still better than a still market.
No market maker cares about support or resistance. Like no insider or institutional money (i mean human not machines) would spend hours and hours on charts drawing trend lines before they place an order. Why would you?
Planning how to react in different scenarios after a position is opened is much better than trying to act like a crystal ball by looking at history when you trade something that ranges most of the time. The moment you observe a trend, chances are the trend is (almost) over. Even if things are against you, most of the time you can turn it to break even without using lots of margin. (Most news are just as big as baby's cough.)
But still, very few news are really big (911, fukushima, brexit, covid, name it), don't ignore the news completely.
Money management is very important. Most traders (of course including many of those on reddit) just talk about how to make an entry but seldom talk about how to manage an already open position or how to close a trade. The latter is way more important than the former.
Besides japanese candlesticks, there are a lot more charting options out there.
Be creative and know what you are trading to the deepest !
submitted by cindyhont to Forex [link] [comments]

Anybody using Trend Catcher?

I’m new to forex trading and have gained quite a lot of basic knowledge from baby pips and a course on Udemy. I’ve been checking out the Trend Catcher indicators and they seem to be really accurate and have very few fakeouts. What do you guys make of it? Here’s a link to where I found it: https://www.babypips.com/trading/forex-hlhb-system-explained
submitted by Nismor32gtr to Forex [link] [comments]

How to trade Fakeouts and failed breakouts The Trading Sessions: Fakeouts profitabel handeln False Breakouts / Fakeouts: How to Trade them Effectively ... 24. Long wick Fake outs Forex: Ultimate Scalping ... Naked Forex: Fakeouts and Breakouts (Find Clues Here) The Secret to Forex Breakouts (and How to Avoid Fakeouts) HOW TO AVOID FAKE-OUTS IN FOREX! // Win Often / Catch The ...

Always be sure to check the forex calendar and news before figuring out whether or not a breakout trade is the right play for the situation. Trading Fakeouts. Institutional traders like to fade breakouts. So we must like to fade breakouts also. Are you going to follow the crowd, or are you going to follow the money? Think, act, eat, sleep, and watch the same movies as these guys do. If we can ... In my experience these tend to be in range-bound markets with low volatility and little notable economic news to fuel a true break-out. I’m sure someone out there is getting rich off these things, but it’s definitely not me! Search for: Currency Converter. Risk Warning. RISK WARNING: Trading leveraged products such as foreign exchange (Forex) and contracts for difference (CFDs) carries a ... Many Forex experts claim that fakeouts are caused by large institutional players, such as banks, creating them deliberately in order to stop-out smaller traders. Although, there is much speculation that this could be true, there is still no real evidence proving the validity of this theory. Trading breakout and avoiding 'fakeouts' 17 replies. Question for you guys: What do you need advice on the most? 12 replies. So What type of chart style is less prone to fakeouts? 7 replies. Have any of you guys used these Brokers before? 4 replies Strategies for Trading Forex Fakeouts. Terry Allen on February 16, 2010 Updated On Feb 25, 2020 Advertiser Disclosure . Price consolidation boxes are delineated by resistance and support levels. In addition, we are aware that there is a strong tendency for price to propel itself through one of these trendlines only to retract shortly afterwards. This whipsaw action causes many smaller ... However, this is bound to happen sometimes because forex trading is not a predictive subject. The best that any trader can hope to achieve is to determine the probabilities that such an action will occur. As such, the generation of fakeouts for a percentage of the time supports this viewpoint of forex trading well. Fakeouts basically happen because the forex market is extremely liquid, and ... As my title is very much clear, we are going to learn about "Breakouts and Fakeouts". A breakout can occur when a specific price level is breached such as support and resistance levels, pivot points, Fibonacci levels etc. With breakout trades, the goal is to enter the market right when the price makes a breakout and then continue to ride the trade until volatility stay alive. If there is large ...

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How to trade Fakeouts and failed breakouts

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