Another Great Scalping Day!
Today, Chief Trader Armando Martinez takes a trade on the EUR/USD currency pair. The position he takes is an active one and immediately after entering, he sets a stop-loss at a PMD in the 4-Hour time frame of the FxPM™ Matrix to allow a maximum possible loss of -5 PIPS. He stays in the position for approximately ten minutes before the price meets a black PMD in the 5-Minute time frame that Armando sees as a resistance level. Instead of being greedy to see whether the price will break through, he stays true to the scalper’s mentality and takes his PIPS when he sees them. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.
Filed under: Daily Learning Moment
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