After you understand what I wrote on the past posted article (#1 and #2), now the last key is the “Timing”. For me, the timeing on forex trading has two kind: candle timing and market timing. All traders knows about time of changing candle to the new one. In 1 hour time frame, we can see new candle every hour. In 15 minutes candle we can see new candle every 15 minutes, etc.
The market timing is important to make a decisions which currencies pair we have to choose. Here are what i watching on my time:
- 07.00-10.00 (GMT+7) is the time for me to watch and trade on USDJPY, AUDUSD, and EURJPY.
- 14.00-16.00 (GMT+7) is the time for me to watch and trade on EURJPY and EURUSD.
- 20.00-22.00 (GMT+7) is the time for me to watch and trade on EURUSD, GBPUSD, USDJPY, and AUDUSD.
So I don’t have to staring on my Metatrader every time, every day, every hour. When I miss a time, i can take the next scheduled time.
Forex Trading is the most enjoyment business in the world, you can take your time at any time.
What next do I do?
- Watch candle on every 10 minutes before ending of 1 hour candle. If there is a high movement, I will trade.
- Watch candle on every new candle at 30 minutes time frame, there’s usually a 100% accurate movement to enter the trade.
What is my indicator doing?
(to be continued)