Another Great Scalping Day!
Today, Chief Trader Armando Martinez takes an active trade on the EUR/USD currency-pair. He immediately protects himself, then goes into some detail about how the likelihood of success in a trade and trade-percentages aren’t always as straight-forward as some traders may think. Armando demonstrates this with the simple example of flipping a coin, which has a 50/50 chance of success. He then takes two of his fills for +12 PIPS of profit each, leaving a third fill to run after adjusting the stop-loss to break-even. Once he sees PMDs in the 1-Minute time frame coming apart, indicating a momentum shift against his position, Armando exits the third fill with +10 PIPS, netting +34 PIPS altogether! 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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