I was able to catch the downtrend on the NZD/CAD pair and resulted in a very good profit so far.
This is the reason why I do not believe in Take Profits. Why would you want to stop your profits? If the market goes in your favour, let it run and simply trail with Stop Loss to ensure that you still make a net profit on your trade.
NZD/CAD is now headed even further down as the downtrend continues.
Another advice that I would like to share is that all retail traders only perform techincal analysis however they miss the fundamental analysis.
After all, fundamental analysis is what makes the big market moves. It's important to have a good grasp of your fundamentals which would then accompany your technical analysis all while making you more comfortable and confident in taking trades.
Let me know what you think?
This is the reason why I do not believe in Take Profits. Why would you want to stop your profits? If the market goes in your favour, let it run and simply trail with Stop Loss to ensure that you still make a net profit on your trade.
NZD/CAD is now headed even further down as the downtrend continues.
Another advice that I would like to share is that all retail traders only perform techincal analysis however they miss the fundamental analysis.
After all, fundamental analysis is what makes the big market moves. It's important to have a good grasp of your fundamentals which would then accompany your technical analysis all while making you more comfortable and confident in taking trades.
Let me know what you think?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.