What I value important in FX trading [motti]
Just as everyone has their own thoughts and styles when it comes to trading, there are various points that traders emphasize during trading. What is the most important point that Motty, a part-time trader with 5 years of FX experience, currently values in trading? Please share with us, including concrete analysis methods and trading approaches.
Motty's Profile
A full-time trader with 8 years of FX experience. He captures the essence of the market and sharpens his trading skills by using the orthodox method of riding the trend. His main technique is scalping. He actively shares information about trading on Twitter and contributes to the improvement of other traders' abilities.
Blog:http://motty-fx-trader.com/
Twitter:https://twitter.com/motty_gaytrader
Not so much technicals or fundamentals, but the essence first
What I consider the most important thing in trading (the point) is why the market moves. I constantly think about questions like why it rises around this area (why there is a lot of buying) or why it falls (why there is a lot of selling), and why it stalls or reverses here, and I trade with that mindset.
What is often written in FX books and internet articles is that you buy when you touch indicator ○○ or sell when the chart shape becomes ○○, focusing on surface-level details. However, the movement of the market according to indicators or chart shapes is rooted in something deeper. If you rely on indicators for trading, it becomes difficult to maintain high-edge trades consistently, and tends to lead to the 'drill-down' or big losses after small gains.
The official site of Japan's only monthly FX specialty magazine "FX Scoling.com" is here