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When making decisions in the market whether to buy or sell that pair, I think we need to watch our emotions on that, in such a way that out emotions is so important, some times we might be making decisions based on our emotions, basically greed and fear and that could lead to loss. Thus, I ensure that my decisions are from my trading strategy and also have got risk management.
from three point that you write i still not understand and fail to learn about market sentiment.
from your explanation this are different with my friend told me, my friend said market sentiment can be seen from economic condition, news and also the politic, but from your explanation its only seen from chart so friend i want to know for more about market sentiment, if you can explain it for more detail i will be thank full
yes, emotion can make traders do what they do not plan on doing. the emotion can be so powerful to the point of making traders do mistakes, and traders who is not careful will lose money with emotion and will not use the strategy they know best. this is what emotion can do.
The trustful thing that you can have as trader is the chart which is in front of your eyes , so i think that before any decision try to watch the chart so much and find the best place or let's say the level to open your deal . Making decision must be related only to your analyses and the chart.
the two things we can trust in the forex business is the chart we are trading and the strategy we are using to trade the chart. trading of forex is not as we always believe it to be. traders will make money through their strategy of trading when the strategy is good one.
yes to enter within the distinct of details with the profile of market chart drawing on price volatility as having with the alert on notification of signals on helping with the supports of strength with the precise of accuracy on option to gains with the return of consequence as managing good disciplines on completing tasks of the good jobs.
To me, what I watch the most now is risk management, it is very important when trading because we are in a risky business, therefore we need to protect our investment. It makes no sense risking all our money on one trade. Therefore on following my strategy I pay more attention to risk management and also money management.
It is essential if we want to make better profit. We need to observe the market movement & try to understand the market movement. Also we need to follow the risk management rules on our trade. Always we will use stop loss & take profit on our trade. That time we will able to make better trade & we never fall in risk that time.
trading decisions is not what we can make without knowing what we are doing in the forex business. traders will observes the market with their strategy. this strategy will be the one which will make the trader know what to do and do it real good to make the money. except that strategies should be used cleverly.
Personally our trading strategy has to help shape the way we will make trading decisions when trading. If we have not learn our trading strategy then we wouldn't be able to make a clear good decision and we might end up in so many loss.