I bet you’re wondering “How do I make money trading Crash 300?” Well, hold your trigger finger, in this article, we are going to explore how you can make money trading Crash 300.
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What is Crash 300?
Crash 300 (C 300) is one of the synthetic indices offered only by Deriv. With Crash 300 there’s an average drop in the price series that occurs at anytime within 300 ticks. It is one of the most volatile indices on Deriv thus giving you the opportunity for good profit when you spot a good trade set up.
Unlike Crash 500 and Crash 1000 which are a bit slow, Crash 300 move pretty fast just like Volatility 75 (V 75) and can double or blow your account within minutes depending on your account size and lot size.
How to analyze Crash 300?
Let me set some ground rules before we dive into how to make money with Crash 300. Many struggling Forex traders I have interacted with in the past two weeks are suffering from what I called “Forex analysis paralysis”
Forex analysis paralysis is when a trader is unable to make a decision based on too many conflicting information, thus making the trader to either miss a trade opportunity, or just stare at the chart without any boldness to take any trade.
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If you are suffering from Forex analysis paralysis which can be as a result of many losing trades, you need to pick up yourself and look back at your trading goals, brush up your strategy, demo trade, to gain back your confidence before returning back to your real account.
One of the problem I have with many struggling Forex traders is that when they blow their accounts instead of them to sit back, review their trade history, access their risk management skill and demo trade, they will look for people to manage their account or signal provider which may even worsen their situation.
To be good at anything, especially forex trading, you need to develop a set of skills apart from your knowledge of forex, these skill can include but not limited to :
- You need to be patient with yourself and learn
- You need to be patient with the market and wait for good trade set up
- You need to be patient when you place a trade and allow it to hit either stop loss or take profit (that is while you have to analyze before placing any trade)
- Forex is very risky, if you want to succeed in the forex market, you need to take forex as an investment and learn how to manage risk effectively
Fear and greed can blow the account you have labored so hard to grow. If you can have a target based trading and stick with it, you will record huge success. So self control is very important in forex.
Step to Analyzing c300
- Switch to Daily timeframe and draw a trendline
The ‘dominant trend direction’ of C300 for the past weeks has been uptrend. Meaning if you are a scalper, you can take your short buys once the price gets to your trendline, and put stop loss about 10 – 20 pips below the trendline.
Even if the Dominant trend direction is uptrend, there are many sells opportunities as evident on the chart above, if you don’t want to go short, let look at the screenshot below.
You need to draw two horizontal lines as indicated in the screenshot above to mark the major support and resistance Zone. Sell when it get’s to the resistance point, your target should be between 25 to 30 points since it is an uptrend.
You can also buy at the support. Note from the chart above, most time, the price breaks the support line (that maybe for stop loss hunt or to fill liquidity gap), so you have to take note of the little retracement that can happen before placing a trade.
How to Become a Better Forex Trader
No body will make you a better forex trader apart from you. Even if you are mentored by the best trader in the World, without you taking charge of your trading journey you will continue to struggle. Most of these people offering mentorship classes are not doing so for your sake, they want to make more money.
Getting a mentor is good, but you can study and become a great forex trader on your own. You need to make the decision on your own; there are a lot of free materials online that can guide you. From creating a demo account, to understanding price action, placing trades, technical indicators, risk management, etc.,
You will find a path that is good for you. Once you understand the basics, develop a strategy, demo trade and modify your strategy until you are confident to use it on your real account.
1 thought on “How to Make Money Trading Crash 300”
i requested for this plz .
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