Breakouts V Swings

Hi,

As a new trader is it advisable to keep these both strategies separate or combine them together? Does anyone trade the London session GBP/USD betwen 7am - 2pm I understand this is an excellent time to trade confirmed breakouts except Fridays.

Thanks.

Hi Unreal, your post could lead to interesting discussions ... but you need to define your terms so people know exactly what you're talking about. What do you mean by "keeping strategies seperate"? And what is a confirmed break-out exactly?

D'oh, you bit....

Unreal said:

Hi,

As a new trader is it advisable to keep these both strategies separate or combine them together? Does anyone trade the London session GBP/USD betwen 7am - 2pm I understand this is an excellent time to trade confirmed breakouts except Fridays.

Thanks.

Click to expand...

:smart:
Hi Unreal! The market movements will oblige you to keep the two strategies separate. If you use candle or bar charts and watch their formation over a period of time (be this minutes or months) you will see patterns emerging. Trained technical traders understand these patterns and how to trade them (or, sometimes, to leave them alone and preserve the trading account from harm). The patterns indicate the mood of the market. It is to be hoped you will only ever enter a trade when you have decided which technique is the most appropriate for that moment in time. Later, market behaviour may change and you'll find that the alternative strategy is more appropriate. Flexibility in using your toolbox, coupled with patience and discipline, will aid success. You cannot always rely on the London session to give you the breakouts you want, they can happen at other times too. The point is always to be professional in your approach by diligent study of this subject - there are no shortcuts to wealth through trading.

wackypete2 said:

D'oh, you bit....

Click to expand...

jees you are sooooooooo sceptical WP.....A was being kind !!