Great Job!! Although i cant say i agree with all the setup you took but yes! most of them! i hope i can join you guys soon!
Cheers!
Jack
Great Job!! Although i cant say i agree with all the setup you took but yes! most of them! i hope i can join you guys soon!
Cheers!
Jack
This is the beauty about trading, itâs like looking at a picture, everyone sees something in it that stands out to them. That is why threads like these are so important, because it brings allot of different talents to the table and it becomes a win win situation for all. Great job on your trading chisha, itâs nice when things come together.[ QUOTE=jackson905;522742]Great Job!! Although i cant say i agree with all the setup you took but yes! most of them! i hope i can join you guys soon!
Cheers!
Jack :)[/QUOTE]
[/QUOTE]
Well said
Its not with trend, its certainly not in a range. Therefore, its not an A+ signal.
Hey abc,
I like your analysis, and thanks for coming back to me on that.
Thereâs one key point you missed though, one that cuts across all setups.
The setup must close in the last 1/3rd of the candle in the desired direction. That is, it must show resoluteness / strength.
In this case we have BULLISH pinbar. The original H8 candle has open and close near the MIDDLE of the candle >> does not inspire confidence that price wants to go long. Compare with the (MOD), and note the difference.
.
He said that he doesnt trade monday [B]intraday/B trades. However if you found a [B]DAILY[/B] signal on friday, you certainly can put pending order if the spread is not huge
Gd job with the Mod, ill probably trade that haha
Yeah im not trading just observing. I think the pound has more strength to come.
Well, when you put in the pending order no matter what day it is, if the spread is not huge, when that order gets executed we really donât know what the spread is going to be at that time. What happens is , it might get executed at braking news or at slow time in the market, in other words the only way to secure a reasonable spread is when you pull the trigger.
[QUOTE=âabc2005;522738â]HI
Iâve a question .we spotted a trade on gbp/jpy . I remember mr johnson said (not very sure) that he doesnât trade monday morning till the European market opens .
correct me if Iâm wrong ,so we shouldnât place the pending orders during the asian session and we should wait until Europe market opens and then we place the orders.
is that correct ?
Thanks[/QUOTE]
I donât remember him saying that. I believe he has said that he doesnât trade the 2-3 hour gap between when the broker lets you place orders and the Asian market opens. By the time the Asian session opens, volume has picked up enough to tighten the spreads.
Hallo Tony,
Just to clarify:
Cheers
[QUOTE=âEternalNewB;522739â]
Thank you for your answer I however donât have a thousands let alone to trade with in forex, all I had was 300 usd that I could afford to lose.
of course I could have bought my FSO membership but then I wouldnât have had any capital to trade with so I opened a forex account with the money and planning to slowly grow it to get my FSO membership[/QUOTE]
I also started with 300$. While its doable with that little capital, it takes some serious self control to grow. Since even a micro lot with a large enough stop can be a lot of risk. At around 1000 it gets easier to manage a trade. You can stick to a lower risk % but still have a large enough position to have multiple take profit levels, and spread out the risk.
Hallo Mideel,
For a masterly summary of stop hunts and the reasoning behind placing better stops, see here:
[ Author: Scott Percival ]
Cheers
Thank you for your reply, I have very good self control and I am not in a hurry at all, I donât take trades with more than $5 usd so I am sticking to MM rules. I honestly donât have any other options since rule 1 was to get money you can afford to lose and, for me, it was 300. when/if it grows to 1000 then we will see
Hope to be able to learn from you guys
Hallo EternalNewB, and welcome!
Remember the quote from the movie âShooterâ? â âSlow is smooth, smooth is fastâ (military saying)
The things you need to do to âmake some moneyâ ( in reverse order ):
[B]2.[/B] Read pages 1-50 of the thread ( a must )
[B]1.[/B] Familiarize yourself with our 3 prime setups:
Cheers
Hallo,
We stick to one T/F ( the one with the PA signal ).
Checking three T/Fâs with this method only adds confusion.
Cheers
I didnât really get the support I expected from all your long time students
It is often said that we donât care about news expect for the NFP. However, it is hard to ignore that the market is trying to position based on QE tapering soon or not and this makes a lot of US based news have the kind of effect only the NFP normally has.
Can we really ignore the whole thing or do we have to take this into consideration at least until there is a clear direction ?
I know Johno will reply to this when heâs able but in the meantime, allow me to chime in.
Yes, we really âignore the whole thingâ. Think about it, thereâs news coming out EVERY DAY, which are you going to follow? And before itâs ânewsâ to the public, donât you think the market movers have already set their positions?
Major point: price action is all about FOLLOWING THE TRACKS of those moving the market. Thatâs what pinbars/engulfing bars/2BRs at KEY LEVELs are, tracks. Factored into these (and other âtracksâ) are the events/news that caused price to move in the first place. And we have habitual human behaviour to thank for that. Of course, the actions of all trades around the world are not 100% predictable, and thatâs why weâll never have 100% wins. But we donât need 100% to be (very) profitable ( no-one does ). The edge brings us ahead over a large sample of trades.
PS: NFP we avoid coz: highly predictable price spikes that can take out SL on USD trades only for price to continue in original direction.
Cheers
Hey buddy,
yes youâre right. We do not trade intra-day setups when the market opens on Monday, we wait until the big guys come in (The US & London session). But we do trade daily setups.
And what happens on bank holidays?
Thanks bro. I always welcome constructive criticism
We need to go see whatâs on the other side