Euro / Canadian DollarEducation
Will EURCAD break down? The importance of patience
The EURCAD is a prime example for how hard trading can be or for how hard traders make their own lifes'.
I have been stalking this pair for a long time and there has never been a real signal to short. The uptrend-structure is beautiful above the 20 SMA.
I have received many emails and messages where people shorted way too early without confirmation just because they didn't want to miss the sell-off when it comes.
This is typical for the amateur trader. Being too early and FOMO is such a big problem that overcoming it will often make the difference between a winning and losing trader.
Learn to sit on your hands, wait for the confirmation signal and enter much later than you'd originally planned.
Here is a recent article about how I do it: tradeciety.com/the-power-of-filters-and-transition-points-forex-trading-like-a-pro/
I have been stalking this pair for a long time and there has never been a real signal to short. The uptrend-structure is beautiful above the 20 SMA.
I have received many emails and messages where people shorted way too early without confirmation just because they didn't want to miss the sell-off when it comes.
This is typical for the amateur trader. Being too early and FOMO is such a big problem that overcoming it will often make the difference between a winning and losing trader.
Learn to sit on your hands, wait for the confirmation signal and enter much later than you'd originally planned.
Here is a recent article about how I do it: tradeciety.com/the-power-of-filters-and-transition-points-forex-trading-like-a-pro/
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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