Powerful: Forex Trading Strategies To Trade Round Numbers



www.desiretotrade.com/group/ Forex Trading Strategies To Trade Round Numbers Round numbers are powerful, even in Forex trading, because institutions usually place their orders at those levels. In this video. I provide Forex trading strategies to trade round numbers. I want to ensure you understand the importance of the topic. Round numbers in Forex are price levels such as 1.10 or 1.12. We allow two digits after the point since numbers are smaller (compared to stocks). You can trade round numbers on both lower and higher time frames. The key lies in observing the reaction in price action when the price gets to a round number. Once price hits a round number, it can do two things: - Reverse - Continue However, it is not unlikely that price will consolidate prior to reversing or continuing. As a result, a trader interested in trading round numbers would need to either identify strong reversal price action patterns or a strong breakout. Like in any trading strategy, the goal will be to implement money management and to be disciplined in executing on what you've defined. If you found this video useful, please give it a like! If you truly want to succeed in Forex trading, you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at. Get the Forex Day Trading Success Cheat Sheet for FREE! http://www.desiretotrade.com/day-trading-success-cheat-sheet/ Check out the Desire To Trade Podcast - Trading Tips & Interviews with Successful Traders: iTunes: http://www.desiretotrade.com/itunes/ Stitcher: http://www.desiretotrade.com/stitcherpodcast/ For a lot of article and tips that will help you become the best trader you can be: http://www.desiretotrade.com

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    Visibility: 1935

    Duration: 13m 50s

    Rating: 12