Forex Nominations 2020
The concept of the market crowd has long been known by traders. For many, it is a symbol of inefficient and erroneous trading decisions. And if you have ever found yourself thinking that you are part of a crowd, it is time to leave this abstract society.
Trading from home makes one feel independent from everything around. But what kind of autonomy can there be if all traders read the same news and monitor the same quotes?
Here lie the reasons for investors’ common emotional state, which makes for opening trades in the same direction. And what can you do when you do not have many skills but still have a desire to leave the unpleasant community straight away? Start with two specific rules.
The moments of abnormally high volatility are the most interesting situations in the market. This is when the asset determines the trend direction.
Traders lose money due to the tottering movements. Most often, bursts of activity occur at the moment of news releases. It may be either economic calendar updates or the news that comes in unexpectedly.
For example, the U.S. president spontaneously imposed sanctions on a country. This will result in a weakening of the currency of the state, which has got under pressure.
A breakout through an important level also leads to increased volatility. Such benchmarks play a strategic role in the market.
Stock indices are most active during the first 5-10 minutes since the beginning of the trading session and during the same period before it closes. This pattern resulted from the specifics of trading these instruments.
To keep calm and not to succumb to provocations of price spikes, avoid trading at critical moments. This does not imply that you should forget about trading.
The price chart provides lots of useful information, but you can get even more of it when using such oscillators as RSI, Stochastic, and DeMarker. Each of them is divided into three zones: overbought, oversold, and the zone between them.
Many traders focus on oscillators only when the signal lines are in the overbought or oversold zones. Indeed, the indicators often give the right signals. The only thing is that too many traders use this scheme.
Of course, such a method helps to earn money, but sometimes we receive just too many false signals. That is why it’s worth using these indicators to find the zone of the market balance to leave the crowd.
The RSI, Stochastic, and DeMarker will help you find the balance between the overbought and the oversold areas. Try to make trades at moments when other traders are not so active.
Nothing huge, but few people see their independence in such things. Remember that trading in the new environment is a very useful experience. Put this advice into practice — and you will leave the market crowd.
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