Skip to content Skip to footer

FOMO? How to not Miss a Trade

Imagine this plausible situation. It’s the weekend, you’re a technical trader so you don’t think the news is going to involve anything with the moves you’re expecting, but you need to keep in mind there are events that will cause short-term volatility. This knowledge can get you a better entry time (since short-term news causes short-term moves) or keep you out due to the noise.

And now the hunt is on, what can you find to increase your profits in the long and short term? Or do you look for swing trades that will open and close within the week? This leads us into the most fun part of trading! Once you’ve finished your cup of coffee and were able to find potential opportunities that excite you for the week, it’s time to watch your portfolio jump up sky high (if all your ideas work out).

When the week has passed, you’ve won and lost some. When reviewing trades, you notice that all the setups you found were not that bad, most of them would have worked out. The only problem is that you have lost track of them because you weren’t scanning your charts appropriately. In this article, I want to share with you how I deal with this problem.

Contents

Buy and Sell orders

Most platforms offer the opportunity to place buy and sell orders. For those of you who don’t know how to place orders let me quickly explain how that works. Let’s assume you have found an interesting zone where you want to buy. Prices have not reached that level yet and to get in on the trade, platforms, like Metatrader, offer the possibility to set an order that will open automatically (even if you’re not watching the chart). That way you will never miss a trade.

The only problem with orders is that once a price doesn’t respect a level, you’ll be stopped out right away. Some traders prefer to get in on a trade once the price turns around and starts heading in the direction they want. In other words, they wait for price action to confirm the move before getting in to prevent getting stopped out. Since they are professional traders, they know that they should not be picking tops and bottoms. If this is your way of trading, placing orders cannot always be the right way for you to prevent missing trades, and setting alerts may be a better solution for you.

SP-500

Setting Price Alerts

I tend to enter into a trade only if price action confirms my idea. I understand market movement pretty well, so I know when I need to be paying attention and when to stand aside. I prefer to get notified when prices reach certain levels. Once levels are reached, I don’t want to enter the trade right away, but I do want to start watching charts closely. This is the only time I zoom in to the 1 hour/4 hour timeframe to get confirmation on the move and to find a great risk-reward entry.

Here at Tradeview you can place buy/sell orders and set price alerts on any of our trading platforms (such Ctrader, MT4, MT5, or Currenex), so your trades can be triggered even when you are sleeping. For more information about how to set up an account with Tradeview, please email me at rgrados@tvmarkets.com.

Wish you a good trading day.

Ricardo Grados
Business Development Manager
RGrados@tvmarkets.com

Show CommentsClose Comments

Leave a comment

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 4th Floor Harbour Place 103 South Church St, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

TVM Global Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.
Website: www.tvmgloballtd.com

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.
Website: www.tradeview.eu

Tradeview Financial Markets S.A.C.

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.
Website: www.tradeviewlatam.com