What is Last Kiss Trading Forex?
Last kiss trading forex is a strategy developed by traders to help them make profits from the ever-changing foreign exchange market. The strategy makes use of technical indicators to define the conditions of a trade setup that is likely to lead to a profitable trade. The trade setups are named the Wammies, Moolahs, and the Last Kiss, as these are the three phases of a successful last kiss trading forex set up.
The first phase is the Wammies, which denotes a potential buy signal. The technical indicators that traders look for to trigger the buy signal are an increase in volume, decrease in volatility, and an increase in the Relative Strength Index (RSI). If the RSI is below 30, traders can enter a long position in the currency pair with a relatively small stop-loss order.
The second phase of the setup is the Moolahs, which denotes a potential sell signal. The technical indicators to look for to trigger the sell signal are a decrease in volume, an increase in volatility, and a decrease in the Relative Strength Index (RSI). If the RSI is above 70, traders can enter a short position in the currency pair with a relatively small stop-loss order.
The last part of the setup is the Last Kiss, which is when traders look for the last sign of a good setup before they make their exit. This is done by looking for a divergence in the currency pair’s price action, meaning the price is going up while the technical indicators are going down, or vice versa. If there is a divergence, traders will make their exit and secure their profits.
Understanding Your Own Trading Psyche
Trading Forex is not only about understanding the markets and technical indicators, but also understanding yourself and how you react to different market conditions. Different traders will have different thresholds and preferences for when to enter and exit a trade, and understanding your trading psychology is important to becoming a successful trader.
For example, some traders may have a strong emotional attachment to their trades and be unable to exit a bad trade even when it is losing money. Other traders may become overly aggressive and take a higher risk than they normally do in an attempt to make up for any potential losses. Understanding these emotional elements of trading will help traders become better at managing their money and risk.
In the last part of the book, traders will learn how to assess their own individual trading psychology in order to help them make better decisions when it comes to trading Forex. This knowledge will help them improve their overall trading performance and make more informed decisions when it comes to their trades.
The Last Kiss strategy is a powerful tool that can help traders maximize their profits in the ever-fluctuating Forex market. By taking advantage of the volume, volatility, and RSI indicators, traders are able to identify potential buy and sell signals to enter and exit their trades in a more informed manner. Additionally, understanding their own psychology and risks associated with Forex trading enables traders to make smarter decisions when it comes to entering and exiting their trades. With the right knowledge and strategy, Last Kiss trading Forex can be a profitable and rewarding investment.
What Is Last Kiss Trading Forex?
Last kiss trading forex (sometimes also known as naked trading) is a technique that is characterized by trading without indicators. The technique relies on identifying consolidation zones, also called the support and resistance zones. This helps traders to predict when a currency pair might break out of its current value range.
The main goal of the last kiss trading forex technique is to identify a price within a consolidation zone and then prepare for a potential break in the current value level. By relying on the support and resistance zones, traders can make more informed decisions on when to open and close positions without the aid of indicators.
How To Identify Consolidation Zones?
The first step in implementing the last kiss technique is to identify the consolidation zones. In order to do this, traders can use a chart or technical analysis tool that shows support and resistance levels. These levels are the most common measures of the range of potential price movements for a currency pair.
When looking at support and resistance levels, traders should pay close attention to potential breakouts. If a price breaks out of a support or resistance level, then this could be a signal that the currency pair is ready to move in a new direction.
How To Implement Last Kiss Trading Forex Strategy?
Once the support and resistance zone have been identified, traders can begin to implement the last kiss strategy. This strategy makes use of the idea that prices tend to ‘kiss’ the support and resistance levels before breaking out of them.
The strategy involves traders to wait until prices have reached the support or resistance level before entering a long or short position, depending on where the price is in the consolidation zone. By relying on this strategy, traders can minimize their risk and maximize their potential returns in a relatively short amount of time.
In conclusion, last kiss trading forex is a technique that relies on the identification of support and resistance zones to predict where a currency pair may go in the near future. By properly applying the last kiss strategy, traders can make informed decisions about when to enter and exit trades while minimizing their risk of losses.