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Either way, this was a good example of a profitable breakout trade and demonstrates that you don t necessarily need to use lots of technical indicators. Sometimes sitting on the sidelines and waiting patiently for a breakout to occur using nothing more than price action and trendlines can be just as profitable.
Forex News, Analysis and Training | Forex Tips
Well for a start, if you study these short-term charts for any length of time, you will soon notice that you get a lot of seemingly random price movements for large parts of the day. This is referred to as noise, and it is this noise that is ultimately the undoing of many a short-term trader because they are constantly being stopped out all the time.
Stock, Share Market, Commodity, Forex Trading Tips in India
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So if you have a profitable trading strategy in place that is able to generate consistent profits during the rest of the year, you might want to consider reducing your profit targets or making changes to your strategy during the month of December because you could easily come unstuck in this quiet trading period.
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As a result, you get a lot of slow-moving markets and a lot of trading sessions that are very quiet indeed, with very little price movement at all.
To verify this for yourself, you only have to apply the average true range indicator to a daily chart of any of the main forex pairs, and see how it falls during December every single year.
A lot of people are drawn to forex trading because they see this as a means of earning a lot of money, and after an initial learning period, they start to trade off the short-term charts using one or two trading strategies that they may have picked up along the way.
This documentary takes a close look at the financial trading industry and follows some of the individual traders who trade the markets every day, including people who work in the city and people such as myself who trade from home.