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How I look for trade ideas [Video]

Understandably, a lot of inexperienced traders might struggle to survive, let alone thrive, in this market environment. But paradoxically, it is exactly times like now when some experienced traders tend to do very well. So, to help reduce your learning curve, I have put together this video showing how I typically look for trade ideas and manage risk, using example of my recent trades in my private group, all to help you spot similar opportunities in any market that you trade.

Whatever the market conditions, the way I see it, you have to be in tune with the market fundamentals and thus have a strong bias in terms of which direction you think the markets should be headed based on X, Y and Z. And equally, you must be open to the possibility to be completely proven wrong.

You then use your favourite technical analysis tools to look for entry and exit levels. For me, the entry has to be as close to support as possible in a rising market and, as close to resistance as possible on a falling market. My profit target(s) are typically around levels where trapped traders’ stop loss orders might be resting. That’s because the market is a function of liquidity. It moves from one area of liquidity to the next area of liquidity. Typically, these areas tend to be above or below price ranges. However, my targets can also be based on the nearest trouble areas (for example, near a recently broken support level on long trades).

So, this video is, above all, an educational one. I wanted to share examples of how I look for trade setups to help you spot similar opportunities in any markets you trade. My aim is to shorten the learning curves of new traders. There are lots of lessons in this, so I hope you take something on board!

The start of the video shows some of the highlights of the recent trades I will be talking about 2 minutes in.

Author

Fawad Razaqzada

Fawad Razaqzada

TradingCandles.com

Experience Fawad is an experienced analyst and economist having been involved in the financial markets since 2010 working for leading global FX, CFD and Spread Betting brokerages, most recently at FOREX.com and City Index.

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