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Amazing Tips to Trade the Support and Resistance Level in the MarketViews: 61
Mar 14, 2017 7:50 amAmazing Tips to Trade the Support and Resistance Level in the Market#

Sandy Smith

There are many different ways of trading the financial instrument in the world but if you closely look at the professional traders than you will see most of them use the simple concept of support and resistance level trading. In the eyes of trained professional support and resistance are the best way to trade the live assets in the market. However, the novice traders in the CFD trading community tend to trade the live asset by using indicators and other EAs. They simply rely too much on the indicators and ultimately fails to achieve success in the financial sectors. But if you truly want to become professional traders in the financial market than it is highly imperative that you follow the key support and resistance level trading technique. In this article, we will give you some valuable advice which will help you to trade the support and resistance level like pro traders.

Use higher time frame: Most of the new traders in the financial market use the smaller time frame to trade the live assets. Itís true that by trading the smaller time frame in the market you will have access to many signals in the market. But trading is not about high-frequency execution rather it is more about quality execution. If you look at the profession traders in the CFD trading community than you will notice that every single trader are more concern about accurate trading entry rather than high-frequency trade execution. Unlike the novice traders they wait patiently in the market for the best possible setup and once the market fills their trading parameters they execute their orders in the market. So make sure you draw the support and resistance level in the higher time frame and focus on quality trade execution.

Use price action signal: There are many different ways of trading the financial instrument in the world. But if you are relatively new in forex trading you might be confused which system to use. As novice traders in the CFD trading community, you should learn the art of price action trading strategy since it will help to trade the support and resistance level with the extreme level of precision. If you look at the professional tradersí county than you will notice that every single one of them use the price action confirmation signal to trade the live assets in the market. There are many different price action setups in the market and as a new trader, you should focus on the reliable candlestick pattern at the very beginning. Once you are comfortable with the system try to trade the key support and resistance level on the market in your demo trading account. Once you feel comfortable with the system you can go live with real money.

Use protective stop loss: Most of the novice traders in the financial market fails to achieve success in the trading since they donít execute their trades in the market based on proper risk management factors. Unlike the novice traders, the professional traders always execute high-quality trades at the key support and resistance level with protective stop loss. If you become a full-time trader than itís very obvious that you will have some losing orders in the market. But there is nothing wrong to accept the managed loses in the market. So donít expect that every trade will be a winner when you trade the key support and resistance level. Always remember that even the best setups in the market can go against you. So make sure that you understand the risk exposure in the market and based on that you should scale your lot size.

In summary, Support and resistance levels are the most vital element for the traders. If you truly want to become professional traders in the financial industry than it highly imperative that you master the art of support and resistance level trading. If you look at the professional traders than you will notice that every single one of them is trading the support and resistance level with price action confirmation signal. So itís better for to understand the dynamics of the forex market and trade the key support and resistance level with price action confirmation signal for efficiency in terms of profit.


Private Reply to Sandy Smith

May 31, 2017 3:57 pmre: Amazing Tips to Trade the Support and Resistance Level in the Market#

Shanmukham Kumarappan
I don't totally agree with you.Support and Resist.. are important but are not the be all and end all of trading.Technical indicators are the basis on which trading is done.


















Private Reply to Shanmukham Kumarappan

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