Most of us traders know what Forex Factory is, but do we know how to use it to improve?
Forex Factory is a goldmine of information and resources. It’s the largest trading forum out there.
However, there is a lot of subpar information to wade through. I’m going to help you use it to your benefit. This article will give you multiple ideas on how to use Forex Factory and ultimately improve your trading.
Crude Oil is the main focus going into 3rd May. There is some interesting structure at play in this market, as outlined on the chart.
One of the most interesting charts out there at the minute – Dax is below a big area on the hourly chart. A good play would be to look for longs at the 12480 area in preparation for a probe of 12650 liquidity.
If the lower level isn’t tagged before we take the highs, it will be worth looking for longs off of 12650 as we explore to new areas of value. I will only be looking for longs there if we accept above – meaning we spend time above there and don’t immediately fall back into the range.
Missing trades can be incredibly detrimental to your bottom line. It’s costing you big, we need to fix it. The amount of times we’ve said ‘I knew I should’ve taken that’ or ‘why didn’t I see that setup, I should be in it’. This is a very real issue for a lot of traders.
Missing trades manifests in numerous ways. Multiple causes lead to missed trades. Once past this hurdle, we can begin to increase profits and the efficacy of our trading.