The problem with the boom and bust family is that they mostly trade on the minute time frame. When you move from day trading/monitoring the chart to a longer time frame, late day trading approach, many things change quickly. If you choose to trade end-of-day strategies, longer timeframes, and focus on the daily chart timeframe as I teach in my courses and in my account, it will be easier for you to make money because you are not struggling with the intraday vortex. meaningless market rumors. Many novice traders believe they will make more money day trading than position or swing trading over longer time frames.
Many traders seem to have a fantasy in their head that they can just quit their day jobs and start day trading all day and somehow magically make money. One of the common misconceptions about intraday trading is that it offers traders “more opportunities” (making money). Intraday traders make large trades because they use high leverage margins. Successful intraday traders tend to trade large amounts in a few trades, rather than open many small positions.
The closest thing to a hard rule is that the first and last hours of the trading day are the hardest and offer the most opportunities. The first 15 minutes after the market open is prime time for seasoned day traders, who typically offer the biggest early trend trades of the day. A day trader’s analysis can be broken down into hours, minutes or even seconds, and the trading time of day can be an important factor to consider. It is because of this extreme caution that we advise day traders to only trade for an hour or two at a time; maintaining focus for two hours is quite difficult.
If you focus on the immediate results of trading rather than the process, you will constantly lose all the money you earn. I can tell you without a doubt, based on 18 years of trading in real markets, that if you choose to day trade, you will take a huge detour that will only push you away from the path that will lead you to success in the long run. urgent trade. If you do the right thing (follow your trading plan and make sure your only goal is to execute that plan flawlessly), your long-term goals will take care of themselves.
There are many things that can stop you from getting good results in a trading boom and reduce this mismanagement of money, trader psychology and strategy, according to my research, trading psychology is the most important thing in trading because it brings 55%, money management 35%, strategy 15%. I suggest you stay away from signal groups. The second mistake people make is portfolio management. Don’t give your money to someone who claims to be a forex professional to help you manage it, it won’t work. The above mentioned traders can face negative markets and help you to trade losses under high pressure. Some account managers are just scammers and they will withdraw your money. Moving on to the boom and bust strategy, I will explain only two strategies here. This strategy works on the Boom 500 and Crash 500 and other trading assets, once you get the basics down, you’ll have a better understanding of Forex trading. I don’t recommend you jump to the first strategy and start trading right away because the simplicity makes it very addictive and before you know it, you’ll be addicted to how easy it is to make money until you hit all the powerful crashes that can be done in a few days Take all your money in seconds.
Fellow traders will take a look at the image above, which shows the correct setup required to trade the booms in the Boom 500. BOOM AND CRASH can also be traded using price action, but this will require the help of tools to help and fix spikes.
When we reach the top, we wait for the market to reach EMA9, if it breaks it in more than 3 small candles, we exit the trade, this applies to Crash 500 and Boom 500. During boom trading, you can buy or sell boom. 500, but most of the time when you open Boom100/500 it always sells, so the correct way is to trade small bearish candles. While trading at the Boom 500, the rsi indicator should be in the strong buy zone (low price), and on the crash 500, the rsi indicator should be in the strong sell zone (high price).
Below are some indicators that will be used to trade booms or busts, and can also be used to buy or sell sharp dips, and sell or buy uptrends. These tips on the best times of day to trade stocks, the best times of the week to buy and sell stocks, and the best months to buy and sell stocks are of course generalizations. As momentum traders take advantage of short-term bullish or bearish momentum, it is easy to make $500 a day intraday. Trading on the daily chart time frame in end-of-day mode gives you as a trader the best chance to make money in the long run.
Since prices are relatively stable during the middle of the day, this is a good time for newbies to trade as the trades are slower and the returns are more predictable. Trading isn’t really free, and big market makers like Citadel Securities and Virtu Financial pay millions to process trades and bring them back to the stock market, taking advantage of the spread, the difference in price between buy and sell. For example, the EUR/USD and GDP/USD pairs are more volatile when both the London and US markets are open.