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I want to share some keywords that traders always use in forex.
TRADING KEY WORD (short form):-
1. TP = Take Profit
2. SL = Stop Loss
3. MM = Money management
4. BE = Break even
5. MC = Margin Call (total loss)
6. CL = Cut Loss
7. PO = Pending Order
8. Layer = Re-entry
9. TL = Trendline
10. SnR = Support And Resistance
11. SnD = Supply And Demand
12. SbR = Support become Resistance
13. RbS = Resistance become Support
BREAKEVEN (BE)
I'm sure you all will be familiar with this word. Because, it is very important to prevent you from losing during the struggle.
This breakeven is when we move the Stop Loss that we have set the Entry time. But this BE needs to be set when Price Running in Profit.
How to place BE point :-
First, you move the Stop Loss to the 1st Entry.
When the price is further away, find a suitable Supply/Resistance Zone and place it at a safe point. So, if there is a Price Reversal, we can save the existing profit.
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