TRADER TRAINER
A question that often arises in training is how many currency pairs can be monitored effectively.
The answer depends on your personality and trading circumstances.
Let’s go deeper into the subject
For those who work full-time or have other activities to occupy their time, it is worth paying attention to just one or two pairs. Since the focus is elsewhere, when looking at the chart you need to be aware of the history, important levels, trend so far
Of course, to do this, you need to enter a position only if you have a strong entry setup and patience, you don’t want to trade everything.
Some people may follow several parties. In the morning or in the evening, he analyzes the pairs and determines which ones are worth watching. When trading, he watches these tracked pairs.
The human mind is able to monitor 7 to 11 variables, stimuli. If we take into account the environment in which we trade (workplace, tradingfloor, home), external distractions are taken into account.
Monitoring multiple pairs, switching between time frames can overload the mind.
Fortunately, alongside today’s tech, there are tools to help filter out the noise. Charting softwares can also set very specific alarms. Switching between a web interface and mt4 can be a cumbersome task. I therefore recommend the following family of indicators.
A few words about the ones I like best:
Trading sessions: shows the trading sessions in Asia, London and New York. Alerts can be set when the price moves out of or back into the price band of the period.
Structure indicator: a great tool to see the structure change on multiple timeframes at the same time on a given pair. saves you from switching down and up between timeframes and you don’t have to watch all the time, because you can set an alarm
Order Block indicator: shows the order block zones of different timelines, helps you to refine to smaller timelines and even indicates liquidity. Of course, not all order blocks are tradable, often they are traps, but it saves time and attention if you only have to watch out for alerts.
In the world of advertising and partnerships, you might think that this article is just part of the marketing.
The reason why I think these are important is because one of the biggest mental traps is cinema.
After analysis we will have an idea and in principle it is important to be objective,
but in practice, a trigger during a tense observation often triggers a market…
….I know, just for starters… :D
Did you like the article? Subscribe now!
We will send you more interesting content and special offers. We don't send spam to anyone!
More articles
Recommended Posts
Ma a növekedés és a terjeszkedés a legtöbb ember számára elérhetetlenné vált, vagy rövidesen azzá válik. Őket arra biztatni, hogy álmodjanak merészet és lelkesen dolgozzanak a nagy sikerért, irritáló, és felelőtlen.
