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Using orders instead of trades.

I spoke before here about trading with the trend instead of against it.  That’s fine, but I always take into consideration fundamentals, i.e. news. So if I think there is some news coming I may place an order on a trade below the current trend if it is bearish and I think it’s going to break down. Then my order comes on when it’s confirmed.

My most successful and profitable trades happen like that, I spend time looking at different peoples opinion of the pair, the charts and make an overall judgement on it. Then set up my orders.

If my order does not take, I was wrong, but it’s not cost me anything to be wrong! 🙂 If a trade is on, that’s a different story.

 

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