Friday, October 16, 2020

๐Ÿ’” Why You Don’t Need to Remove Emotions From Your Trading Decisions | “Is It Advisable to Have Multiple Take Profit Levels?”

Today's forex trade ideas, trading tips and discussions for beginners, and the latest news affecting the forex market.
October 16, 2020
How to measure the strength of a breakout
In this forex lesson, we show you a couple of ways to tell whether or not a trend seems to be nearing its demise and a reversal breakout is in order.
Candlestick pattern of the day: Evening doji star



This Evening Doji Star acts as a bearish reversal of the upward price trend because price rises into the pattern and breaks out downward. Here's how you can identify it.

Pipcrawler's discretionary day trading framework
Discretionary day trading can be a challenge as it involves mixing together the two main disciplines of determining entry/exit points and direction (TA/FA), and keeping up with the dynamic shifts in both. Here's how he makes it work.
How did the major pairs end this week?

Using MarketMilk's price change comparison for the major pairs, we can see which ones ended the week in the green and which ones ended in the red. Here's a look:

Can you really remove emotions from your trading decisions?
Decision making without emotional involvement is actually not optimal and maybe even impossible because emotions aid in four key functions in decision making. 
"Is it advisable to have multiple take profit levels?"
Forum member Chancykibombwe writes, "If my position size is 0.6. is it advised to separate the trade into 2 trades one 0.3 and the other 0.3 just to have different TP levels?"
Got a question for us?
Send us a message!
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