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May be its true but sl is important when our balance is little because if there is uptrend and downtrend then sometime after rising and falling sometime its reverse back and for this to keep profit (if not long) then we need sl and tp but if have huge balance then its others words.
and Yes, it's all true what you said my brother, you must always enter the forex market and the trend is our friend, but we must measure the volatility of the market at the beginning, is that it is positive and dynamic or not, this method will help us avoid losing a lot of pips.
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indeed in the trade we have to follow the trend of price movements in the forex market, but sometimes we have difficulty to read the trend when it starts and when it ends, so we are not fooled by fake trends and we also do not miss the correct trend..... and to be able to correctly identify trends, needs analysis and considerable experience. because often the newbie like me, stuck with a fake trend. it was just a correction. you should really know, whether it's price movement is really a trend or just a correction.
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well dear in forex actually I consider i have only one way to analysis the trend that is Bollinger Band strategy. first of all see the H1 chart and see the moving of your pair then goo on BB and that will give you the current trend. many people are become looser in the Forex the one main reason is also that they are following several indicators My friend trend is the friend of a trader and we know that if we can trade with the trend then profit is must, but finding out the trend of the market is really really important in trading and we know that if we could not trade with the trend then we have to face losses.
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Trend k saath trading karna bahut profitable rehta hai ye baat bikul sahi hai, Agar hum trend k saath trade karen to ye bahut chances hotey hain k hum ache profit k saath exit lenge, lekin hume chotey time frame me trend dekh kar trade nahi karna chahiye balki 4 Hours ya daily time frame me trend ko dekh kar ussi direction me trade karni chahiye. bhai iss field mein sahi time pe agar entry kar dega trader toh accha paisa kamane mein zyada pareshani nahi hhoti hai usko iss field mein se accha paisa kamana mushkil baat nahi hai waise toh magar acche se kaam akreinge toh sab hasil ho sakta hai humein.
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yes i also agree totally with this topic that we should always trade in the direction of the trend and we will be in profit but this is not always coz in times of volatile condition's it is not so easy to depend and predict the trend so got to be carefull with this friend then. and but some of them will be trapped by their indicators until the follow the indicators and not the trend, and here is the problem and include me, i am now trying to reset the mind to use indicators to follow the trend , not follow them
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If you understand the trend very well, you will like this business . I understand when to hit when the trend is moving and when to stop when it is slow. Initially , I learned a strategy where making money as the trend moves to make outrageous profit out of some broker. It actually was a scalping strategy. I was able to do this because I understand the trend and so rode it to my advantage.
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yes mostly trader again repeat mistake from which they get loss last time they are not try to increase learning and not learn from loss just do regular working and get loss we have to make planning all the time when one strategy not work then try to do another and forex is profitable with good planning and hard working so try to learn it make plan and with confidence work for profit .
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I think before we follow the trend, there are many other factors should we follow, the most important levels of support and resistance levels, because it is much better in my opinion, and also do not forget the levels of Fibonacci, and the important indicators such as average price movement, can not rely on trend and only one, you should that there will be more than one indicator to confirm the trend direction is true or not
and To make money in spot forex the very important task is to first determine the trend for the currency pair you want buy or sell, and then open the trade in the trend direction. You may have to wait some time for right entry point in existing trend, and you can hope to get your trades in profits soon.
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I always follow the trend of late in the ongoing yanbg moreover always use sideway trading hours I rarely open the market at the time of the trend, because I always fail if there are appropriate market entry of the price movement is too difficult for me to determine the direction and yes it's true but traders need stimulation to open their entire order, and the stimulus came from great players such as banking or big boys, so we like it or not, we are controlled by larger player in the world.
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the question is, when will we know when the trend will end? I agree with you, against the trend is not recommended in trading. But we also must remain vigilant because there will always be the price correction. I think, if we must continue to "see" the graph, then it would be very unlikely. and yes it is very important to join the trend when it is still strong not when it is already weak.there are so many indicators can show the trend change very clear.so it is important to be patient after that.and l think timing is also very important.most of the break out happens during euro or newyork sessions.so it better to wait for the right time.