Inside Trade | It's Time! - Entering the market

Recently, I managed to succeed in catching a few profitable trades which somehow boosted my ego. Highly acclaiming myself for such small victories, I recklessly opened trades thinking that I would be able to wield the market at my whim. I was wrong.

My haughtiness tolled me losses more than those of my little achievement, up to the point wherein my capital was threatened. It's a wake up call, a slap back to reality in which reminded me that almost everything must be accounted for, including the right moment.

Yes, almost every second is an opportunity waiting to be converted to profit. But there are moments that are far more profitable and far less dangerous than others.

Against the many

If you're familiar with the concept of demand and supply, you may observe that it is also applicable in Forex. The supply and demand affects the price in a way that it may denote if there is an impending reversal lurking around the corner.

How to successfully ride it?

Simple, go against what most are doing but do it in the right moment. In traders term, wait for a reversal or retracement before opening a trade. That way, you could earn more without worrying that the trend might change soon. Just imagine you're on a hill with a bike. You won't have to worry about your speed if you're on top, right? You could smoothly go down if everything is set and ready. Just braced yourself from the impact and be sure that you won't fall on a cliff.

How would you know that it's time?

There are tons of indicators out there, but I would recommend oscillators to do the job. If the indicator is already near the safe line, 70 and 30 value for RSI, then ready yourself up because it's almost time. Once you're in, set a TP and SL on a balance so that you could ride it smoothly and safely.