Day Trading Plan
Choosing a Forex pair: we are interested about volatile, uncommon moves of these pairs deviating significantly from the mean.
> Forex can be traded 24/5. Some sessions are less volatile than other sessions, for example 23:00 – 3:00 (GMT+2) which is less volatile-not much trading activity takes place. In less volatile sessions the market stops moving in one direction and trades in range. This means two things:
1. Trading for breakups during less volatile sessions is risky. 2. Trading against the market in less volatile sessions can be profitable since will be trading in range.
> We will be focusing on retracements after 2-days big deviations and trade on the breakouts leading to Fibo 61% retracements
Risk Warning: CFDs are highly leveraged over-the-counter derivatives and due to their degree of complexity, trading CFDs carries a high level of risk and may not be suitable for all investors. Please be aware that this educational material does not constitute investment advice and does not take into account your investment objectives, financial situation or specific needs. This content is for educational purposes only and we accept no liability whatsoever for losses or damages resulting either directly or indirectly from the use of the information contained in this website. You take responsibility for your own trading decisions.