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The Easy Way To Monitor A Trade

Written by forex | one
Topics: My Trades, Trading Strategies, Trading Tips, Trends


When a trader makes a trade he should always monitor the trade no matter how long he is going to keep the trade on.   To monitor a trade easily it is best done on time frames higher than those in which he normally trades.  A trader can see a trade more clearly when he has a larger perspective.  It is easier to spot the support and resistance levels the farther from the current time frame you are trading.  The smaller the time frame is, the harder it is to judge where a good exit point is.  That is if you want to get more than just a few pips on the trade.  A trader who is concentrating only on a short time frame will miss things that are obvious to someone who is looking at the larger time frames.

 

Something that I like to do is find the trend on a larger time frame.  Time the entry of the trade on a smaller time frame then move back up to a larger time frame to monitor the trade.  This technique will help to get more pips out of a trade and still allow the market to move.

July 14th, 2008
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One Response to “The Easy Way To Monitor A Trade”

  1. How To Trade Forex Online - The complete guide on how to trade forex online » The Easy Way To Monitor A Trade on July 14th, 2008 3:09 pm

    [...] The Easy Way To Monitor A Trade This entry is filed under Uncategorized. You can follow any responses to this entry through the [...]

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