XAUUSD chart resistance at 2,800 and double top at 2,700 changing to down trend looking at the 2,400 as the key support level ,please im judt trying to be prepare for the next year any correction sir
Can I trade just using a mobile phone or do I need an internet connection and a laptop?
Of you want to have a chance of being a successful trader in leveraged trading, the answer are:
No (you cannot use just a mobile)
Yes (you need an internet connection and either a laptop or desktop computer)
Markets rarely operate like a textbook and can be quite fickle, especially of you are day trading. You might get lucky with some trades just using a mobile but odds are against you if you rely on it solely for your trading.
“When you mention stops, are you referring to my stop or other stops?”
Believe me, no one is going after your stop unless you are trading with a less reputable broker.
What I am referring to are algos that are programmed to seek out levels where stops placed by a variety of market participants are likely bunched.
The reason this is most apparent in the forex market is that, unlike CFDs, there is a common price feed so everyone with a chart is looking at the same levels, So, since all traders, for example, are looking at the same levels (e.g. high and low of the day), stops are often placed at key levels that can be identified in advance,
This is what it looks like when stops are run at a recent high (AUDUSD)
Feel free to comment, ask a question or contact jay@localhost directly.
I was asked about the cost of The Amazing Trader.
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First, let me be clear, the goal of the trading club is to help you succeed. My charting algo and all that goes with it is the best way I know to reach that goal.
Second, Let me be clear. I am not here to sell you. All I can do is offer a common sense, logical way to trade and a tool to execute it.