You can exit on strong reversal patterns and fundamental catalysts against your position. Here is an example of using tighter trailing stops on part of the position as the market went a bit parabolic. When you exit using trade management rules, it pays to scale out of the position, rather than exit all in one go. Be aware that trade management is powerful, but it is dangerous in the hands of emotional traders.

While the trading model above is quite simple, there is great benefit to using a variety of inputs to determine the quality of the trade.

This allows you to trade more on your good ideas and less on your bad ideas. Click here to read about how to determine if your trade is good or not. A quality trades are the best ones, the ones that you really like.

B quality trades are your bed and butter trades that produce the majority of your profits. You can trade much smaller or not at all on these trades. Ranking trades allows you to use all the knowledge and experience you have built up over the years, while keeping the strategy and decision-making progress simple and clear. By trading breakouts, you have the opportunity to capture some nice trends and can keep the win rate relatively high.

It does take disciple and practice to implement this type of strategy day after day. You will have losses to deal with and you need to hold on to your trades and not cut your profit short. Sam Eder is a currency trader and author of The Consistent Trader and the Advanced Forex Course for Smart Traders get free access.

He is the owner of www. com a provider of Forex signals from ex-bank and industry traders get a free trial. End of Day Forex Trading Strategies: Breakouts by Sam Eder. What is a breakout? Capturing the moment the market begins its expansion into a trend can be a nice way to trade, as: You are getting in near the beginning of a trend; You are not trying to pick a bottom.

How to capture breakouts My favourite way to capture breakouts is to wait for a low volatility low vol range to form and enter a trade on the first move outside the range that has formed. Here is an example of a recent trade: You can see that I use the Bollinger Bands to give me a non-discretionary definition of one of these low volatility periods. Rule 1. Wait for the Bollinger Bands width indicator to fall below 0. Note, you need to use daily charts with New York close Candlesticks for this.

Cut losses The key to breakout trading is that you have larger winning trades than you have losing trades. Rule 3. You can also avoid bad effects from emotions when you observe the fluctuations in prices too much.

Have you ever opened an order without intention but because of the sharp fluctuations of the day that make you greedy and risky? I bet that there are a lot. One thing has been proven in practice: traders who trade with low frequency and carefully consider, make much more money than ones who regularly trade.

They think buying and selling regularly will help them get rich the quickest. But the result is the opposite. They quickly burn out account after account. With this type of trading, your daily life and work will not change. It only takes you about 30 minutes a day to observe the market and to take notes of main events if you want I recommend that. You will become comfortable and serene when deciding whether to open an order or not. The important thing is that you must have a good trading strategy, control of yourself, and a lot of experience accumulated over time.

At that time, you do not need to spend many hours a day in front of the screen watching the market. People often tend to complicate things, especially with financial and technical issues. We often think it is something too big, too complicated.

We complicate it more than it is. I do not mean that trading is simple. We all know that making money from this market is extremely difficult. The most difficult aspect of trading is to make a profit and not to let emotions affect. When you have learned and mastered the skill of trading on price movements, you need to write these check notes as a trading plan like the conditions to open an order. After that, your job is just to observe the price chart when the New York session closes it is also the start of a new day when you wake up if you are living in Vietnam.

Observe and see if the market gives you the opportunity to make money. Once you get used to it, it only takes you about 30 minutes a day for trading. With that 30 minutes, you will decide whether to continue waiting for an opportunity or take the chance and open an order. The reason traders are still struggling and frustrated with the forex market is that they have complicated what is considered the easiest part of trading. It is analyzing the market chart and looking for entry signals. The hardest part of trading is controlling yourself psychology.

The management of capital also depends largely on psychology. By trading at the end of the day, you are using your time more effectively and efficiently. The daily chart offers a higher and more reliable value than ones of lower time frames h1, h4.

This means you should spend your time observing the market after the New York session closes via D1 and Week1 charts. We simply observe if the market has any entry points, make a few bullet notes, then go to work as usual. You can save time and avoid the bad influence of emotion and psychology. Compared to watching the market all day with quick ups and downs on the m30, h1, etc. Feel free to try it. Notes: 30 minutes a day is enough for you to monitor and decide whether to open or to manage an order on the forex market.

You check your favorite currency pair s and look for signals with your strategy see if the market has given you an opportunity to make money. Once you understand and master the method, you will do this very quickly and easily. It only takes you 10 to 15 minutes. You observe the daily chart Daily-D1 and look for signals that match the strategy. If there are no signals then this is not the time to risk your money. Many traders make the mistake that they are impatient in making money.

They keep observing the market. And even when the signal is not available or unclear , they deceive themselves that the opportunity to make money has come. They ignore risks and often gamble with large sums of money.

This is a trap that you can easily fall into. If you are looking for consistency and less stress, trading the Daily charts is the way to go. And since trading activity only happens once a day, there should be no reason for missed trades or mismanaged trades when following a trader providing signals. Traditionally, Intraday traders place more trades and have lower take profit levels.

This makes the SPREAD an important factor in your trading. The Spread is what you pay your broker when you enter a trade. Basically, you end up paying more to the broker for your trading. Here is an example…. Pretend you are trading a currency pair with a 3 pip spread. This means you pay your broker 3 pips per transaction. Let's say an intraday trader is trading a strategy with a 30 pip take profit, and it is a winner.

And since you are placing more trades over all, this cost can really add up. On the other hand, End Of Day traders place less trades and have higher take profit levels. This makes spread less impacting on your profits.

In the end, you pay your broker less and keep more of the profits in your account. Pretend you are trading the same currency pair with a 3 pip spread. Let's say the EOD trader is trading a strategy with a pip take profit, and it is a winner. Since you are paying 3 pips to make , the spread cost is only 1. And to make things even better, you are placing less trades overall, so the spread cost is minimal.

As you can plainly see, End Of Day trading is much more efficient and reduces your spread costs dramatically. I need to debunk a common myth about trading on higher time frames. The myth is… trading on the Daily charts is RISKIER than Intraday trading on lower time frames. This is only true if the trader does not know anything about money management.

This common misconception happens because of the difference in stop loss values between lower time frames and higher time frames. People tend to believe that the higher the stop loss value, the more money you have at risk. For example, if you were trading 0. But this would only happen if you were using poor money management that does not take into account the stop loss value. The stop loss value in pips determines how many pips a trade can go against you before you want to cut your losses and exit the trade.

But the "risk" you are willing to accept on a trade has to do with how much money you have at risk on a trade. This is not just about pips, but rather a combination of pips and lot size, which determines how much money is at risk on the trade.

This means that the risk of a trade with a 30 pip stop loss and a pip stop loss is the SAME. Risk is controlled by manipulating the lot size, not the stop loss value. The truth is, End Of Day trading can be much more accurate than trading on the Intraday time frames.

This actually makes trading the Daily charts LESS risky than trading the lower time frames. And you'll be glad to know, trading the Daily Charts can be just as profitable as Intraday trading. Most Intraday traders are enchanted with the idea of placing trades with very tight stop losses and exiting the trade with huge pip gains. After all, that would be the recipe for huge monetary gains in a very short time period.

But that is just fantasy, not a realistic approach to Forex trading. The truth is, those perfectly profitable trades are few and far between. By the time you factor in missed trades, losing trades and trades not exited with full profit, this fantasy completely falls apart.

In reality, you end up sitting in front of the charts for hours placing and managing a lot of trades with very little to show for it if anything. On the other hand, Forex End Of Day trading on the Daily charts can be much more accurate when using realistic stop losses and targets. By trading less with more accuracy, you can make just as many profits. And I'll take REAL money in my account compared to FANTASY money any day of the week.

In my experience, profitability is not about how many trades you place. It is about how many winning trades you have compared to losing trades and trades that are exited before hitting the target.

And the main focus needs to be on proper money management and risk to reward ratios on the trades you do place, instead of placing a large number of trades. You might be wondering why going over all the benefits of End Of Day trading for a signals service is important.

After all, you are not being asked to learn and apply a trading strategy.

Tiếng Việt Português فارسی. It becomes quite chaotic and difficult to analyze clearly and accurately. Based on where you live, you can figure out the way to trade at the end of a day through this article.

When I wake up in the morning, it is the closing time of the New York session GMT Therefore, the tracking becomes very convenient. We all have our other jobs and problems we need to solve. Therefore, observing the chart after strong price struggles have passed, leaving a calm Asian session, will help us observe the market better and faster.

Trading at the end of the day basically helps you streamline your daily activities and work. Everything will still go normally without disturbance or influence. A lot of people think that you need to sit all day in front of a computer screen to be able to make money from the Forex market.

This is not true. In fact, not sitting around watching the market will bring you more benefits in trading results. You can easily avoid excessive trading. You can also avoid bad effects from emotions when you observe the fluctuations in prices too much. Have you ever opened an order without intention but because of the sharp fluctuations of the day that make you greedy and risky?

I bet that there are a lot. One thing has been proven in practice: traders who trade with low frequency and carefully consider, make much more money than ones who regularly trade. They think buying and selling regularly will help them get rich the quickest.

But the result is the opposite. They quickly burn out account after account. With this type of trading, your daily life and work will not change. It only takes you about 30 minutes a day to observe the market and to take notes of main events if you want I recommend that.

You will become comfortable and serene when deciding whether to open an order or not. The important thing is that you must have a good trading strategy, control of yourself, and a lot of experience accumulated over time.

At that time, you do not need to spend many hours a day in front of the screen watching the market. People often tend to complicate things, especially with financial and technical issues. We often think it is something too big, too complicated. We complicate it more than it is. I do not mean that trading is simple. We all know that making money from this market is extremely difficult.

The most difficult aspect of trading is to make a profit and not to let emotions affect. When you have learned and mastered the skill of trading on price movements, you need to write these check notes as a trading plan like the conditions to open an order. After that, your job is just to observe the price chart when the New York session closes it is also the start of a new day when you wake up if you are living in Vietnam.

Observe and see if the market gives you the opportunity to make money. Once you get used to it, it only takes you about 30 minutes a day for trading. With that 30 minutes, you will decide whether to continue waiting for an opportunity or take the chance and open an order.

The reason traders are still struggling and frustrated with the forex market is that they have complicated what is considered the easiest part of trading. It is analyzing the market chart and looking for entry signals.

The hardest part of trading is controlling yourself psychology. The management of capital also depends largely on psychology. By trading at the end of the day, you are using your time more effectively and efficiently. The daily chart offers a higher and more reliable value than ones of lower time frames h1, h4. This means you should spend your time observing the market after the New York session closes via D1 and Week1 charts.

We simply observe if the market has any entry points, make a few bullet notes, then go to work as usual. You can save time and avoid the bad influence of emotion and psychology. Compared to watching the market all day with quick ups and downs on the m30, h1, etc. Feel free to try it. Notes: 30 minutes a day is enough for you to monitor and decide whether to open or to manage an order on the forex market.

You check your favorite currency pair s and look for signals with your strategy see if the market has given you an opportunity to make money. Once you understand and master the method, you will do this very quickly and easily.

It only takes you 10 to 15 minutes. You observe the daily chart Daily-D1 and look for signals that match the strategy. If there are no signals then this is not the time to risk your money. Many traders make the mistake that they are impatient in making money.

They keep observing the market. And even when the signal is not available or unclear , they deceive themselves that the opportunity to make money has come. They ignore risks and often gamble with large sums of money. This is a trap that you can easily fall into. Remember that the hardest part of trading is controlling yourself. Combine 1 signal with 1 level. If you find a good price pattern, the next thing to do is to look at the levels. You need to draw these levels on the daily, weekly, and monthly charts.

Levels here are the support and resistance. The stronger the level is, the higher the trust level becomes. You need to know if the market you are in has a trend up or down clearly or does not have a trend struggling with a narrow margin, up or down unclearly.

Never trade unless the market has a clear trend up or down. Noting down reviews on your favorite currency pairs daily into a notebook is a good way to have an objective view of each market. Write about what you see and feel.

Turn this into an indispensable habit. After noting down all your favorite currency pairs, read them all at least once. This gives you a better overview of each market currency pair and an overview of the global money market. Thereby, you can consider and see if there are any contradictions between currency pairs. You will always stay in a state of knowing and understanding what is going on. This is one of the most important things which help me survive and earn money in this tough market.

Either way, your next step is to shut down the computer. You only know what happens on the chart when you turn on the computer the next trading day.

This is to help you not to be affected by emotions closing an order before touching the stop loss, or hurriedly closing and taking profit from a winning order, or even stuffing orders, etc. In addition, it helps trading not affect your life and other jobs.

Let the market do its job. Before opening an order, place a stop-loss. It also means that you have accepted to lose that money never cut the losses before the stop-loss.

It is for the market. The next day when you open up MT4 software, it will be pleasant if your order is profitable. In a more casual way, you should not give a damn to it 🙂. It is not to stick your eyes on the market and to accept that the market will do what it needs to do. The market is always right. Save my name, email, and website in this browser for the next time I comment. Since then we have continuously created the new and improved the old, so that your trading on the platform is seamless and lucrative.

Our team has world-class analysts. They develop original trading strategies and teach traders how to use them intelligently in open webinars, and they consult one-on-one with traders.

Education is conducted in all the languages that our traders speak. Contact: [email protected]. General Risk Notification: trading involves high-risk investment.

Do not invest funds that you are not prepared to lose. Before you start, we advise that you become familiar with the rules and conditions of trading outlined on our site. Any examples, tips, strategies and instructions on the site do not constitute trading recommendations and are not legally binding.

Traders make their decisions independently and this company does not assume responsibility for them. The service contract is concluded in the territory of the sovereign state of Saint Vincent and the Grenadines. The services of the company are provided in the territory of the sovereign state of Saint Vincent and the Grenadines.

As you can plainly see, End Of Day trading is much more efficient and reduces your spread costs dramatically. Securities Dealer License No SD They develop original trading strategies and teach traders how to use them intelligently in open webinars, and they consult one-on-one with traders. In trading, timing is everything. One of the biggest problems facing traders is using a trading strategy that just cannot be traded properly in real life.

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