Don't get sucked into trading the trend when the moves are not your friend.
Membro desde: 16/07/2011
The trend is your friend, except when it's not.
I started trading gold this week for the first time. I was doing well on the trades going with the trend throughout the week. As it was my first time I was setting stops and limits. Unfortunately, I got sucked in to placing more trades on Friday afternoon, which resulted in me losing the entire week's gains in less than 2 hours.
I think the problem was that I was trading for more gains (the trend is your friend, right?), but my mind was not on the job at hand. Each loss I got, I placed another new trade to get the money back, which of course never happened. The trend had left me high and dry.
I had simply neglected or understimated the counter trend bears. There is an enemy in the trend.
Membro desde: 05/12/2010
Membro desde: 16/07/2011
There are many wrong friends. I had a week of good as gold friends and a day with a crowd of cruel ones that killed the good ones.
The key must be getting them when they agree with each other, a harmonious chorus of bulls or bears. I think perhaps getting H1 and H4 lined up in the direction of the daily might work.
Membro desde: 22/04/2011
Originally posted by widhie75
soetime its funny when we talk about trend.......every TF have own trend....let say in TF D1 trend is up, H1 trend is down, M5 trend is up.....its really confusing right?.....which one we should trust?
well, so Trend is really our friend, but if we choose wrong friend,,,,,,we will get sufferred " />
Thats the truth. Very true. Its the matter of choosing friend. At the same time it is very hard to analyze the trends correctly. Sometimes you got them and most of the times you dont.
The good or ill of a man lies within his own will. – Epictetus
Membro desde: 12/04/2012
It is important for a trader to trade with the trend and he uses different tools or technical indicators to trade with the trend, It is said that trend is the best friend and always trade along with it and never go against it .
Membro desde: 26/03/2012
Membro desde: 07/04/2012
Never go against the trend. The pluparts strategies and forex trading systems are to identify trends. It is the right thing to do because going against a trend may result from depleting your capital.
Membro desde: 21/05/2012
If it was so easy to identify the trend in hindsight. But where does the trend end? When is the trend a false break? When is the trend part of a consolidation pattern? Is this a trend or a retrace of a trend?
Membro desde: 26/04/2012
Yeah we should have to try again and again till we get succeeded in forex trading and even i am giving my best here so that i can make a lots of profit in forex trading.
Membro desde: 16/05/2011
We can only guess a trend by analysing market in our way. If the guess is right, we will make profit otherwise loss. So there is nothing like "dont trade against trend" or "never go against trend" coz we dont know if the next pip will be downward or upward. We can only try to predict future trend.