As much as we’d all love to nail “every single entry” with the precision of a well-trained sniper, unfortunately the volatile nature of forex markets “in general” – rarely allows for this “extreme level of precision”. At any given moment a “sudden spike” or reaction to a news event can easily send a given currency pair hundreds of pips in the opposite direction of an already well established trend – reaching far outside any “indicator” or horizontal line drawn on a chart.
New traders are constantly encouraged by their brokerage’s to use appropriate stops when trading, where in “these suggested stops” ( usually of 25 – 30 pips ) are placed far too close to the near term price action, providing a constant revenue stream for the brokerage ( as they are continually hit ) – leaving traders with nothing.
This “is” the nature of the “retail forex market” – as it is designed specifically for this purpose.
A fantastic strategy I’ve employed over the years….
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