welcome all visitors tradelikeapro.ru.Today we talk about such a difficult subject as the intraday trading on the forex.Video tutorial below is literally overflowing with tips and tricks that can greatly improve your success in trading intraday.Though technically, this article refers to a category and Price Action, represented tips will be useful to any short-term trader.In general, all of watch
not trade below H1
First Council refers specifically to trade for intraday setups Price Action.The fact that the idea of reflection actions of market players through candlestick loses its meaning on the small timeframes.Those.if you try to trade for the PA, for example, on the M5, it will no longer trade on Price Action, and trading "at random".Therefore fall below hourly charts when working with PA patterns are not worth it.
Do not try to buy the number of transactions.Selects the most obvious setups.
you opened the graph.Look at him.No setup.You increase the image, change the timeframes are loo
familiar?The fact that you are following the stereotype of "intraday trading - a lot, a lot of transactions, almost every minute," really want to open a position, and then another and another.Only this is no longer trading on the system, and trade at random.What does it lead to?I guessed.
Enter only when you can see a clear "how to books" setup.If you start something to look out for, to guess, to seek inputs is unclear on what basis, then STOP SUFFER garbage .Flip a coin and enter finally in the market, because you so want it))
Joking aside, but again I repeat: enter the market only when you see the obvious setups.Muddy, incomprehensible situation simply ignore - wait for clear signals.
Limit the number of traded instruments
Intraday trading requires the trader quick and precise actions.Time for many thoughts there.Therefore, a large number of traded pairs will only confuse and distract you.We do not need you 20 charts when trading intraday, - restrict its portfolio two or three tools, nothing more.At first, I would generally advise to trade no more than one pair.
risk is not more than 1% of the deposit to each transaction
Yes, 1% - it is very small.Yes, I want to cut the dough a lot at once, preferably with a warranty, but try to understand the meaning of this council.In intraday trading is very high psychological load.It's easy to fall into a state of anger because of a couple of losing trades and start making more and more mistakes, trying to win.Very, very difficult to stay calm, risked on each trade 5-10% of the deposit, as in the day we open the deal and quite often the time to calm down, thoughtfully and without emotion to assess the situation simply does not have.
Therefore, the best option - to risk only a small part of your capital.That in the case of a succession of losses, you stay mentally balanced and able to continue to trade in order to later restore these same losses.Try to put yourself first goal is not to earn a lot and earn stable .
For the calculation of the lot in accordance with a predetermined percentage of risk can be used Master Money Bot indicator.
Follow the news
output of important economic data can be easily deployed in any market direction.And if trading on the daily charts, this factor is offset by the value of timeframe, then pay attention to the news outlet must be in intraday trading.I always say this in the reviews forex strategies: not trade for half an hour before and after the news .If you see some kind of setup Price Action, but after half an hour of the news - wait.After the news, if the market moves in the direction indicated by the setup: you can enter the market.But not before the release of a newsletter.
Details about the extent of the importance of the news, watch where their schedule, etc.explains in the video at the beginning of this article.
Watch the higher timeframe
Forex charts of the same currency pair may be completely different.It all depends on the timeframe, the selected time scale.
And if you trade such as H1, it will be quite superfluous to keep an eye on a higher timeframe - H4.But to do that, too, it needs to mind, given the stage of what is happening at the highest timeframe.For example, if you see on the H4 big trend upwards, but at the moment there is a correction, so why not open the sale at a lower H1 scale?After correction may be delayed, and limiting himself to only buy, we will lose a lucrative deal.
Limit your profit / loss 1 day
First, never put yourself goals: N earn points for the day.This leads to the search for non-existent entry points, the feeling of anger on the market, and in the end there are just quiet days when the extract your N points even in difficult theory, not to mention the practice ...
I'm talking about setting limits.A kind of total take-profit and stop-loss on transactions in a single day.At first glance this may seem silly, but this approach is very helpful in keeping the discipline, which is so important in intraday trading.
Here is an example: you have decided that your limit gains / losses for 1 day is equal to 70 points.And as soon as your total profit on transactions for 1 day up 70 points, you close the platform and forget about the market until the next day.It's the same with a loss as soon as the amount of loss on transactions becomes equal to 70 points, you come out of the terminal, and do not return until tomorrow.
This will help prevent the opening of stupid trades when you are driven by a desire to get even, and when you have possession of the euphoria of a series of successful products.
End Asian and early European sessions - a good time for a reversal setups
We all know that every day is the body of the candle, the upper and lower shadows.Ideally, our task is to catch most of the candle body, ie,catch the trend of the day.But before the price moves in the direction of the body, the candle will form a shadow.And that after the formation of shadows, we have a good chance of entering the market.
A ends forming shadows very often during late Asian / early European trading sessions.Accordingly reversal setups that occur at this time have a high profit potential.
More clearly this advice explained in the video tutorial at the beginning of Lent.
Consider daily volatility of the traded pair
Suppose you know that the average distance from point to point High Low daily candle on a pair of X is 100 points.If your profit in any transaction that is open in intraday trading close to 70-80 points, it would be logical to close the position, becausetraffic potential is almost exhausted.Similarly, if the price trend has already passed on 70 points and there is a new setup in the same direction, it will be pretty stupid to open a new deal, because the price is almost "ran out of gas."
I think it is clear that the knowledge of the average daily volatility of the currency pairs can be very useful.But where to get the data?Their website provides forexticket.ru.How to use this service is seen in the video tutorial at the beginning of this post.
not leave the position to the next day
Rough novice mistake - leaving open positions overnight.Well, think of yourself: what do the setup found in the day you should remain in effect tomorrow?The market has long forgotten about it.Traders appeared a bunch of new data, signals, someone opened a position on higher timeframes, and so on.So why is your position should remain in force?
leaving open positions at night, you just play roulette, you feel lucky.And success in the forex is not the place.Therefore, in order to avoid unnecessary losses, if at the end of US session you have open positions, whether in the black or in the red, then just close them.
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