5 Ways to Find Epic Trade Setups
- By FXT
- November 24, 2023
- FXT Analysis
Visualisation of charts across varying timeframes can often highlight opportunities that could be worth a little more focus.
Moving from higher time frames to start off with, targeting the biggest moves, then moving down timeframes to exact an entry is a common method among traders looking for big payoffs.
Using the charts is a common method of searching for trade opportunities, but is it the most efficient?
Let’s continue looking for easier ways to find epic trade setups.
2. Market Buzz
Seeking hidden gems is one way to find a potential market mover for the day. While you could spend hours scanning and trawling the news feeds online, the Market Buzz tool can offer a quick and easy visual scan over a range of asset classes including crypto, forex, commodities, stocks and indices.
One quick look and you will see which assets are buzzing in the news feeds so you can dig deeper into what the world is looking at right now.
3. Economic Calendar
There’s a reason why the economic calendar is a hit among traders. Big volatility, which is what traders rely on, can almost be banked on for many of these high impact events laid out in the calendar.
Knowing when the markets are likely to move rapidly is a big advantage. Traders await these events knowing that big moves are afoot.
Add to this, the FXT Economic Calendar showcases deep insights that help traders plan out the likely effect of events based on different outcomes on different related currency pairs.
4. Market Specialisation
While looking for opportunities across the financial globe can bring great setups to your door, specialising in a particular market could mean you gain definitive insights into your preferred market.
While it may seem less interesting and require more patience as you wait for the right setup to line up, there can be more than enough money to be made from a single market if you master it.
For ideas and insights into some of the ways you can master a single market, check out this article on Oil
5. Traders Trend
The FXT Webtrader features an exciting tool called Traders Trend, sitting under the order section of the platform. It can be helpful to understand what other traders are thinking by means of sentiment, as bulls and bears are pitted against each other. Out of 100%, see which animal takes the market share for bullish or bearish sentiment.
Will you be a contrarian trader, or go with the herd?
Clicking through each market, scanning the Traders Trend to find markets that are out of balance and one sided could help identify trend and direction.
Do you use one method as a preference? Or are you a trader looking to maximise every chance and combine these concepts to enhance your list of epic trade setups.