Before talking about forex trading systems, it would be better to find out what systems exist at all, which system suits which trader and what trading system to choose. Searching for your best forex system through trial and error may take years, that is why this issue requires a systemic approach.
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How do you use the GDP data in trading? In the classical variant, the GDP data significantly higher than forecast promises growth of the national currency, so buys are in priority. Conversely, the GDP data weaker than expected entails a decline in the national currency rate, so sells are recommended. Also, you should evaluate the technical picture and prepare a trading plan.
The size of the main interest rate is the base for the interest rates of other instruments, such as state and corporate bonds, credit rates for legal entities and physical persons. Central banks resort to changing interest rates rather seldom; such changes are considered major market events, and market players keep a close eye on them.
Linda Bradford Raschke is a famous and talented trader. She was born in the USA in 1959. She has been trading for over 35 years. For the start, she used to help her father when she was young. Then, she worked at the exchange.
A Lock is several positions open for one instrument in different directions on one trading account. We shall discuss it on the example of Forex, as long as on stock markets, in the USA specifically, locking one instrument is illegal; one can only hedge risks by other instruments (buy one, sell another). Locking is also possible with CFDs.
I suggest splitting the preparation for trading the news into three parts: choosing the time, preparing a trading plan, and trading in accordance with the plan.
The classic Pin Bar forms on the critical support/resistance levels at the maximal/minimal values in the places where, theoretically, the trend may end. However, there are more options for the Pin Bar formation, which are the places of the trend correction.
Trading against the main trend entails lots of difficulties and additional risks. As a rule, the trader in such a situation tries to catch a correction; however, it would be more efficient to wait for the completion of the current trend and enter a trade in the new trend. Even the most high-quality signal or pattern always realizes if it goes against the main trend. The trader has to be as attentive as possible and control risks if they try to enter trades against the main movement or catch the completion of the latter.
EXTRA strategy, like any other, has long-term, mid-term and short-term goals. At the basis of this strategy lies a MATRIX. A matrix is practically the basic structure of the Elliott waves.