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Nothing Happens Until It Happens

Nothing Happens Until It Happens

2010-11-29 21:28:00
Richard Krivo, Trading Instructor
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Student's Question:I’ve made trades where you enter a position when it looks like the MACD is going to intersect (crossover) but it doesn't and it goes even further in the direction in which it was going, ultimately hurting my account pretty bad, any suggestions?Instructor’s Response:Sure…First and foremost we only want to take trades in the direction of the trend on the Daily chart...that is the first filter.

Don't let the MACD (or any other indicator for that matter) decide the direction of the trend for you. The trader makes the determination of which direction to be trading the pair based on the direction of the Daily chart. Once that is done, then we consult the MACD to fine tune our entry in the direction of the Daily trend.Next, it is advisable not to take a trade when it looks like somethingmighthappen...wait until itdoeshappen. Patience and discipline are two traits that will serve a trader well over time.A good axiom to trade by is..."nothing happens until happens".

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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