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USD/CHF chart trading by D este
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USD/CHF chart trading |
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Investment
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There is another main thought to consider along side with market timing and the trend. It is really understanding who is on the other side of your trade. We want to make sure the person on the other side of our trade is a new forex trader. Let's use this USD/CHF chart as an example and use a simple thought process to make sure that when we sold short, we were selling to a buyer who had no idea what they were doing. The circled area on the chart is where the smart trader had entered selling short into the supply level to the left. The key is who was the buyer and what do we know about them? Inexperienced traders always make two key mistakes. The buyers in this trade were making three and they are as follows: The buyers who bought from us were buying after a rally in price. This is a big mistake in trading. Think about how you buy things in other parts of your life. Do you ever get excited about buying after prices rise? If you would not take this novice action when buying things in any other part of life, don't do it when trading and investing. They were buying at a price level where supply exceeded demand big supply/demand imbalance . The chart already told us that yellow shaded area . This mistake is even worse than mistake number one. USD/CHF chart trading
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