Skills and Analysis of Chasing Orders in Foreign Exchange Market

Chasing orders refers to a method of making orders that follow the direction of gold price fluctuations at the beginning of the market and complete the transaction in a short period of time. Chasing orders is a method of making orders that is often used, but since chasing orders is a transaction made when the price of gold fluctuates violently, there is a lot of risk in it. If the operation is improper, it is easy to cause losses in a very short period of time. How can we chase orders to reduce the risk of loss? We can refer to the following principles for chasing orders.

First, when to chase orders. As mentioned above, chasing orders is a transaction made when the price of gold fluctuates violently. Then the basic principle is to chase orders when the price of gold starts to fluctuate violently. But how do we determine when the price of gold starts to fluctuate violently?

There are two main scenarios:

1. When breaking. Breaking refers to all K-line combinations being broken. Including piercing, pressure levels, support levels, arc combinations, channels, etc. For example, now the price of gold is under a lot of pressure at 850, and the price of gold has been consolidating around 850 for a long time, so when the price breaks 850, we can chase orders.

2. Before and after the opening time of the European and US markets. Because the price of gold generally fluctuates greatly before and after the opening of the European and US markets. So when the European and US markets open, you can pay attention to the changes in gold prices and find the right price to chase orders.

Second, the profit position squaring principle of chasing orders. Generally speaking, once the gold price breaks, the price will continue to go at least 3-5 US dollars in the direction of breaking, so if we chase orders, then our goal is to carry out position squaring operations after making a profit of 3-5 US dollars.

Third, the operation skills of chasing orders. Generally speaking, when the price of gold fluctuates violently, you place an order, and the price of gold will change within 1 second of the transaction of the order you made. And the general better way is to place an order. Even if the price of gold changes within one second of your order in the transaction process, then your order will still be sold at the price you originally placed the order at.

That is to say, your order will start to make money as soon as it is closed. For example, if I make a multiple order at 800, and the price suddenly jumps to 802 in one second of the order transaction process, then your order will still be closed at 800. So when chasing orders, your mind must react quickly, place an order immediately when you see the right price, and operate quickly. What is another important skill? Because the price fluctuates faster when we chase orders, we should set a stop-win price immediately after the order is closed. When the gold price reaches the stop-win price, the order can be automatically completed to complete the transaction.

What is the purpose of doing this. Because people are greedy, when we chase but succeed, many people will still refuse to position squaring after making $5, and setting a stop-win price can avoid losses caused by greed. Another advantage of setting a stop-win is that because the price of gold fluctuates violently, manual position squaring may not be able to level the appropriate price. And when a stop-win is set, when the price flashes across the order, it will be sold.