What is Friday Q&A?

Since starting Daily Price Action in 2014, I’ve received thousands of questions from Forex traders from around the world. In fact, this site has now reached traders from all 195 countries.

Some questions have been easier to answer than others, but one thing has always been true…

The answer has made someone’s Forex journey a little easier.

Another thing I’ve noticed over the years is that the question topics tend to overlap. For example, most inquiries fall into a few broad categories such as support and resistance, pin bars, risk management, trend analysis, etc.

So in the spirit of helping others by addressing these common questions, I’m going to answer one question every Friday publicly. I’ll be writing one blog post each week that will┬átackle the subject head on and from every angle.

To get things started, post your question in the comments of one of these posts or Tweet to me @JustinBennettFX.

I look forward to hearing from you.

Trade well





Dwight says

Hi, I am writing to ask you a question about open positions , with all this price stops ,how long do you leave your orders open when price stops?

    Justin Bennett says

    Hi Dwight, are you referring to entry orders? Some clarification would be helpful. Cheers.

Solaron says

Hi Justin, I am a new member. Here is my first Question. Do “Opening ranges” play any part in your analysis? I see they are established in small time-frame Charts and indicate breakout direction. Are they worth the time needed to calculate and mark on my charts or should I shelve the strategy entirely?

    Justin Bennett says

    Hi Solaron, excellent question. I’ll add this one to the list of options for this Friday’s post.

      Solaron says

      Thanks Justin , I look forward to it. I have posted a photo in my profile page. C U tomorrow, Solaron

Mimi says

Hi Justin, would appreciate your thoughts on how a trader can make up or prevent losses apart from using a Stop Loss. Often a trader may be unclear about the direction of a trade even though they may have a bias. How do we handle this as traders? I sometimes place a hedge trade and once the direction is clear I place a third trade that I allow to run. This has prevented losses with trades as long as the hedge trade is placed very quickly. However, not sure if all brokers allow hedging, but mine does and through hedging (uncertain trades), I have been able to keep losses to a minimum. However, I only use hedging when I’m uncertain about a trade and not as a general trading strategy.

    Justin Bennett says

    Mimi, thanks for sharing. I’ve added this to the list of possibilities for Friday’s post. Cheers.

William Beverly says

What is the best way to set the most potentially profitable stop loss on a trending up or down trade?

    Justin Bennett says

    Thanks for the question, William. It’s been added to this week’s list. Cheers.

Ferry says

Hi Justin, I have question regarding 2016 November 9 all major currencies gaped, I checked there was no significant news in forex factory. Could you please explain what cause of the gap? Thank you.

    Justin Bennett says

    Ferry, it was the U.S. elections. However, the idea behind this section is to ask questions about trading topics such as support and resistance, pin bars, etc. I’ll then turn the answer into a blog post this Friday. Cheers.

Vijaykumar says

Why The Price Open Gap-Up Or Gap-Down During Opening Of Monday Session?
What Does It Tell? What Are Pros And Cons?

    Justin Bennett says

    Thanks for the comment, Vijaykumar. It’s been added to the list of possible topics for next week. Cheers.

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