How to Spot Good Trades – The Critical Dashboard (Tips)
In this Bangkok Forex trading vlog, I share with you why you need a trading dashboard and how it can help you spot good trades. Vlog #542
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You would never drive a car without a working dashboard, then why do most traders trade without these critical tools?
Traders often focus on price and price movement. But that can be deceiving. Price is merely an advertising mechanism and in a short timeframe can appear to be move sharply in both directions but still maintaining its trend in the big picture.
1. Always have a bigger picture timeframe on your platform.
2. Key indicator changes such as crosses or RSI hitting staying at extreme levels
3. Heiken-Ashi bars or similar that are finally turning and breaking above s/r levels
4. Correlated pairs that may be taking the lead with a trend change.
5. Alerts built into your trading platform to trigger a need to take a trade
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