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Forex rewards patient traders
/ 8:22 PM /
This forex tip is actually more of a skill that you will learn to develop if you trade long enough.One of the reasons i love forex trading so much is that this market rewards patient traders. Did you just missed a breakout? Are you watching that strong move thinking how many pips you could have made? Don't worry, forex trading almost allways gives you a second chance. Price tends to revisit old resistance points that once broken will act as support.There's your second chance to enter the trade. It's a perfect entry because other traders who missed the move will join you and traders who caught the first move will probably reenter to ride the trend again. The risk/reward ratio is great because your stop loss will be just bellow the support and your target should be above the first high established after the breakout.Here's a recent example of a trade i made on GBP/USD.