Forex for newbies: Do you know what's going to happen?

xthuy(33)

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Hi everybody!

If you are new in forex, you probably want to know exactly what the price will go up or down in the future. This is really hard, almost impossible.
For example:
Looking at chart D1 of the AUD/USD, the current price is reaching the resistance, many traders will expect prices to go down. This may be true, may be wrong. I have met many traders who have entered the market for years. The best thing I realize is that the best traders can not adjust the market price up or down. They can get money from the forex market because they know how to control the psychology and entry position according to the rules that is created before.

AUD/USD (D1 chart):
Forex xthuy D1.png

You can not know for sure what's going to happen.
So, the best way: Build your own entry position rules, follow that rules and ignore the signals from other indicators. That is the most important thing to help you go long with the forex market and have a stable income. To get those rules, you need time to experiment, and it's best to do it with demo accounts.

For the AUD/USD I gave the example above, if according to my rules, I still execute the buy trading order when the price back trend line. Result: my buy order still wins several dozen pip. :D
AUD/USD (H4 chart):
Forex xthuy H4.png

In case the entry position is SL, how to deal with? You can find the answer in the next posts. Thank you for reading!
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