TOP TRADERS
naturally to me. Although it was a lot of hard work and sacrifice, I guess it was worth it. Te faster way is just to go on to learn from a mentor who already has a system that is proven to work.
FXTM When you trade, do you use fundamental a n a l y s i s , t e ch n ic a l analysis or both?
KF
90% of my strategy is based on t e ch n ic a l a n a l ys is whereas only about 10% account for fundamentals. As I’m a day trader, using technical indicators for entry makes more sense to me. I will not put in any trades during economic events that would be deemed to have a high impact on the currency markets due to the volatility and unpredictability of that particular trading hour.
KF
I mainly use moving averages, specifically SMA and EMA, to determine the overall trend at that particular time. Te best traders I know will not trade against the trend
FX
momentum is also to prevent myself from trading false breakouts as they are quite common occurrence in the markets nowadays. Te reason why there are a lot of false breakouts is due to the fact that the market has already lost momentum. I will only trade b r ea k ou t s when my ca l cula t ions indicate to me that the markets still have
the
The faster way is to learn from a mentor who already has a system that is proven to work
FXTM Which technical analysis indicators or tools do you prefer to use? and do you focus on specific time frames?
because most people are trying too hard to trade bottoms and tops, and ending up getting burnt from it. I also use a momentum indicator where I take the price from the previous day to gauge the current day momentum. It’s a strategy that cannot be found anywhere on the internet as mine requires calculations
every time I
need to calculate the momentum. Te reason I trade based on market
retrace.
As a day trader, I use H4 to determine the overall big picture of the trend and use H1 as an entry point. I want to make sure that I am not trading against the trend in both the H1 and H4 timeframe. Tese time frames would allow me to close my trade before the day ends, which suits my trading personality as a day trader. Only once in a while that I hold my
FX TRADER MAGAZINE April - June 2017 35
mome n t um to go in the direction that I want it to go. In addition to that, I also use support and resistance lines to prevent
myself from trading in a situation where the price might
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64
