Are you ready for your first trades (in your demo account)? How do you choose your symbol?
There are many ways to determine the symbol of your trades. But one important never-do-it-again-rule is: don’t trade against the trend.
Compare the charts with the corresponding mini-charts from the market manager.
- Stongest trend: the last candle (D1) is a bull candle and the mini-chart supports that with blue candles going up in all 3 time frames.
The opposite is also true. D1 bear candle on the chart supported by declining red candles in the mini-chart.
- If there is no support for any D1, then look only at the mini-chart to determine the short term trend. See example below.