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December 9, 2019

TRADING PSYCHOLOGY

PSYCHOLOGY: To begin with, one of the most basic things that a trader is in need of in order to reach success is the branch known as psychology. As known to everyone, it is a crucial element which rules everyone’s life individually so consequently, it can also be the most dangerous aspect. The reason as to why is because in a trader’s life, it is so easy to fail at any moment in the industry
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Now, as much as placing SR areas is easy there are times where price can get pretty messy. This is where most traders start to struggle when it comes to placing their SR. It’s important to remember the fundamentals. Nothing changes when it comes to messy pairs and practicing is really going to boost your confidence when placing SR areas. Using different time frames is one of the simplest ways to do this. It is
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Placing SR should be a simple process that takes up only a little of your time. Agonising over the placement of SR can be a time sink and often leads to over thinking. When it comes to SR, the most obvious areas will be the most powerful. This is because a large portion of traders will also see these levels and react to them. So, any obscure or minor SR you place and then look
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Support and resistance (SR) areas are a core part of many price action trading strategies. Many use SR on a daily basis to find powerful setups and to prevent from taking risky trades. Trading without SR areas is like driving blind – no matter what strategy you use, SR areas will be extremely useful and informative for your trading. Doing so in an effective way is vital to your success as a price action trader.
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Candlesticks are what currency traders look at to give them information about the session they are currently viewing. A candlestick has 4 man components: 1# Open 2# Close 3# High 4# Low These 4 parts tell us a lot about the session we are viewing. If a candle closes above the open price it is viewed as bullish. If a candle closes below the open price it is viewed as bearish. However this is not
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