Finding Entry and Exit Points - Forex Trading Strategy Q&A | Forex
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Need help becoming profitable? Watch this interview, where Jarratt reveals THE EDGE, which got him #2 ranking: http://www.jarrattdavis.com/forex-course Hey guys, I'm back with another video to help you in answering questions regarding your Forex Trading Strategy. In this particular video I will explain how to find the the best entry and exit points. To be honest, if there is one thing in trading that I wonder the most, it is how to define the perfect entry. The reason for this is that you can never really predict where the price is going to move from and where to it is heading. What I do is I break the trade in two parts. First one is predicting which way the pair is going. For that I use fundamentals. For example, we can predict that USD/CAD is going up because we know that in the long-term USD/CAD is going up. When we know which way we want to trade we can determine, roughly, how far the trade is going to go. In this way, we get a very good structural framework to trade from. Obviously, the next part is to decide where to get in. However, as long as you know what fundamentals support the long trade and you have at least a rough idea of where it is heading the specific entry point is not that important. On the other hand, it is important if you want to limit your risk and place the stop losses etc. How do I do it? I simply use levels of support and resistance to get in. My levels are as simple as double zero levels. For instance, 1.2400, 1.2300 and so on. Thanks for watching and I will be back soon with more videos answering your guys questions and helping you to develop your own Forex Trading Strategy.
Comments
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hi JD, thx for info mate. Although slight adjustment you want to put your SL n TP 10 min before zero levels because we know 0 levels have barriers in placed. so You could be at 123.98 and reverse all way back to 123 because 124 barriers boys are there to prevent it. Overall goodstuff JD thx
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Hello Jarratt, your videos are all extremely helpful, thank you! I've a qns.. I know you use fundamentals to decide where the pair is going e.g. USD/CAD is going up medium to long term. But within the week itself, how do you know roughly how much it's going up? Do you use the average weekly pip swings to decide? Or how do you decide which is your anticipated target level?
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Jarratt, it says in your video that you were "ranked as the second best performing Forex trader in the world between 2008 - 2013". What were you ranked in 2014?
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three questions...How many trades do you normally take a week, how big are your lot sizes, and how many pips do you place your stops at? As my account gets bigger, is it smarter to maintain the same amount of target pips but increase the lot sizes, as long as your not risking more than 5% per trade? well 4 questions...
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Hey guys, I'm back with another video to help you in answering questions regarding your Forex Trading Strategy. In this particular video I will explain how to find the the best entry and exit points.
To be honest, if there is one thing in trading that I wonder the most, it is how to define the perfect entry. The reason for this is that you can never really predict where the price is going to move from and where to it is heading.
What I do is I break the trade in two parts. First one is predicting which way the pair is going. For that I use fundamentals. For example, we can predict that USD/CAD is going up because we know that in the long-term USD/CAD is going up. When we know which way we want to trade we can determine, roughly, how far the trade is going to go. In this way, we get a very good structural framework to trade from. Obviously, the next part is to decide where to get in. However, as long as you know what fundamentals support the long trade and you have at least a rough idea of where it is heading the specific entry point is not that important. On the other hand, it is important if you want to limit your risk and place the stop losses etc. How do I do it? I simply use levels of support and resistance to get in. My levels are as simple as double zero levels. For instance, 1.2400, 1.2300 and so on.
Thanks for watching and I will be back soon with more videos answering your guys questions and helping you to develop your own Forex Trading Strategy.
#ForexTrade #Forex #Signals #JarrattDavis #ForexTradingStrategy