This is a new idea for a trade setup for EUR/USD.
Always wait for the Trade Trigger! Try not to be too conservative or aggressive when it comes to entering a trade.
Trade triggers can be simple or complex. One isn’t necessarily better than another, it just depends on the strategy we want to use. The trader trigger is part of a strategy.
A strategy without trade triggers is based on whim. You buy and sell when you feel like it, but those actions aren’t necessarily based on a proven winning method. A strategy, with trade triggers, can be tested for profitability, it can be replicated, and it can be tweaked to improve performance. Trades based on whim can’t do those things.
There are potentially many ways to create trade triggers, for the entry and exit. Here are a few examples.
Always wait for the Trade Trigger! Try not to be too conservative or aggressive when it comes to entering a trade.
Trade triggers can be simple or complex. One isn’t necessarily better than another, it just depends on the strategy we want to use. The trader trigger is part of a strategy.
A strategy without trade triggers is based on whim. You buy and sell when you feel like it, but those actions aren’t necessarily based on a proven winning method. A strategy, with trade triggers, can be tested for profitability, it can be replicated, and it can be tweaked to improve performance. Trades based on whim can’t do those things.
There are potentially many ways to create trade triggers, for the entry and exit. Here are a few examples.
- Make a trade at a specific time of day, day of the week, or day of the year. At the open or close.
- Make a trade when an indicator reaches a certain level.
- Make a trade when one indicator crosses another.
- Make a trade when the price crosses an indicator on the chart.
- Make a trade when the price reaches a certain price or percentage move (common with stop losses).