Preschool>= Lesson Status ?
Kindergarten>= Lesson Status ?
Elementary>= Lesson Status ?
Grade 1 Support and Resistance Levels
Grade 2 Japanese Candlesticks
Grade 3 Fibonacci
Grade 4 Moving Averages
Grade 5 Common Chart Indicators
Middle School>= Lesson Status ?
Grade 7 Important Chart Patterns
Grade 8 Pivot Points
Summer School>= Lesson Status ?
High School>= Lesson Status ?
Grade 9 Trading Divergences
Grade 10 Market Environment
Grade 11 Trading Breakouts and Fakeouts
Grade 12 Fundamental Analysis
Grade 13 Currency Crosses
- What is a Currency Cross Pair?
- Crosses Present More Trading Opportunities
- Cleaner Trends and Ranges
- Taking Advantage of Interest Rate Differential
- Obscure Crosses
- Planning Around News and Fundamentals
- Creating Synthetic Pairs
- Euro and Yen Crosses
- How to Use Crosses to Trade the Majors
- How Cross Currency Pairs Affect Dollar Pairs
- Summary: Currency Crosses
Grade 14 Multiple Time Frame Analysis
Undergraduate>= Lesson Status ?
- Why Keep a Trade Journal?
- Benefits of Keeping a Journal
- What Should You Record in Your Journal?
- Potential Trading Area
- Entry Trigger
- Position Sizing
- Trade Management Rules
- Trade Retrospective
- Trading Journal Statistics
- Reviewing Your Trading Journal
- Difficulties of Keeping a Trade Journal
- Summary: Keeping a Trade Journal
Graduation>= Lesson Status ?
- Which Trading Style is Best for You?
- Which Currencies Should You Trade?
- What is Your Level of Trading Experience?
- Should You Be a Discretionary, Mechanical, or Hybrid Trader?
- What Kind of Mechanical System Suits Your Personality?
- What is Your Attitude Towards Risk?
- What Kind of Stop Suits Your Trading Style?
When two people go to war, the foolish man always rushes blindly into battle without a plan, much like a starving man at his favorite buffet spot.
The wise man, on the other hand, will always get a situation report first to know the surrounding conditions that could affect how the battle plays out.
Like in warfare, we must also get a situation report on the market we are trading. This means we need to know what kind of market environment we are actually in. Some traders cry saying that their system sucks.
Sometimes the system does in fact, suck. Other times, the system is potentially profitable, but it is being utilized in the wrong environment.
Seasoned traders try to figure out the appropriate strategy for the current market environment they are trading in.
Is it time to bust out those Fibs and look for retracements? Or are ranges holding?
Just as the coach comes up with different plays for particular situations or opponents, you should also be able to decide which strategy to use depending on market environment.
By knowing what market environment we are trading in, we can choose a trend-based strategy in a trending market or a range-bound strategy in a ranging market.
Are you worried about not getting to use your beastly range-bound strategy? How about your Bring-Home-Da-Bacon trend-based system?
Have no fear!
The forex market provides many trending and ranging opportunities across different time frames wherein these strategies can be implemented.
By knowing which strategies are appropriate, you will find it easier to figure out which indicators to pull out from your toolbox.
Before spotting those opportunities, you have to be able to determine the market environment. The state of the market can be classified into three scenarios:
- Trending up
- Trending down
While you are logged into your account,
you can save your progress in the School of Pipsology!
- What is a Trending Market?
- What is a Ranging Market?
- Retracement or Reversal?
- Identifying Reversals
- Protect Yo Self From Reversals