Obsessed with Trading?


Trading Obsession

If you want to be a success, it’s a tough balance to be dedicated without getting obsessed! One thing that might help navigate this delicate balance is quality instead of quantity. You don’t have to know everything, but it never hurts to learn – and what you learn just might help you in your trading when you least expect it. Ever heard of Elliot Wave theory? It’s a way of using wider price movements to predict the probably of the next major price movement. More of an art than a science, but maybe it will suit your style. Using Fibonacci retracement levels to judge the quality of a pull back before entering a new trade is another technique that some traders find helpful. There is more to Fibonacci than just retracements, too – at its heart lies a formula of ratios occurring widely in nature, lending weight to the theory that these ratios will also tend to occur in liquid markets such as Forex.

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.