Yeah it can be really hard when the missus is not fully supportive. I really hope your is because otherwise it is just something else to fight. They really want to be, but all they see is their partner buried away on the computer talking to other people every spare minute they get, and it is easy to see how they feel a little threatened and at times un-loved. Sorry to say I had to get rid of mine.
Make sure that when you start turning a regular profit you regularly take some profit out of the account and spend it on something for her or together. Even if it is just going to the movies together or a fancy dinner or something like surprising her with flowers/jewelry etc etc This will soon bring them over to your side and it is a hell of a lot easier having your partner with you in the fight than against, and once she starts seeing the rewards she will be a lot more likely to go easy on your next time you are parked up on the computer. Whilst I am replying to you Ross this message is for a lot of people.
Safe trading and all the best to everyone for Christmas and the new year!
tell me please why You post the setups like a GBPUSD on your Website when they are already done. Why wouldnt You placed the setups before You take it so we can learn better. Thank You
Thats rite liangko, but it was posted live as it happened in the members section. Remember though, its easy to find trades, the hard part is managing the trade.
Both what liangko and sponge said. Also the aim of the whole thread is to teach people to fish and not rely on fish from others. We want people to be able to make their own trades without anyone. The best way to learn is to go through setup after setup discussing them and dissecting them exactly as we do in here.
Hi,Johnathon
Iām a new here to learn what you presented,Now my MT4 is different with your NY closing time setting,I want to be same as you,so could you please show me the link to download NY close time demo MT4?becasue now Iām trading Gold,so I need the demo MT4 with Gold trading too.
Waiting for your reply.
Thanks a lot.
Regards
Phoenix
Is it a mistake to donāt take profit at 1.6200 and to only move to BE? I donāt like too much to scale out. If I donāt take half the profit at 1.6200 I will lose 21,5 pips compared to someone who took half the profit if the trade moves to BE. But if the trade moves to 1,6150 I will win 43+50=93 pips while someone who takes profit at TP1 will win only 43 + (50/2)=68 pips (with 25 pips more).
Also if you are stopped above pinbar high you will lose on full positions, but when you will win ,you will not win on your full positions.
There is no right or wrong way to manage trades. This is where the skill comes in though.
You need to stop working out profit in pips and start working put in dollars and percentage. Pips are deceptive and donāt tell the true story. I can make negative pips for the mohth and still make money hence why it is important to do all working in percent and $$.
āIf I donāt take half the profit at 1.6200 I will lose (43 * initial pip value) / 2 [or 21,5 * initial pip value] compared to someone who took half the profit if the trade moves to BE. But if the trade moves to 1,6150 I will win 93 * initial pip value while someone who takes profit at TP1 will win only 43* initial pip value + (50* initial pip value/2)=68 * initial pip value (with 25 * initial pip value more).ā
I work out profit in dollars but didnāt know how much money he traded.
Hi,Johnathon,
Iām waiting for a reversal signal for Gold trading for 1Day TF as attached pic shows,
and also I have a question,normally how many trading signals have you found out
in a week or month for all sorts of pairs,because Iām just trading on gold,I need to find obvious and reliable reversal signal,I donāt have so many chance to trade.
Thanks
first of all the markets are very thin and my advice to most would be to turn off the charts and forget them until after the new year. The markets are not going anywhere and there is a full year coming ahead to trade! There is nothing happening in the markets atm and to be honest if a signal presented I would let it go by anyway as the volatility is not there.
Next I would defintiely advise you to expand your horizons and watch more pairs. This is all covered in the first 50 pages, but watching just one or two pairs does not work for what we do. We only take the best trades and if you are only watching one or two pairs you will find yourself taking rubbish setups just to be in a trade.
It is far better to watch more pairs and then cherry pick the great setups. It does not take long especially when looking at higher time frames. My trading takes 1hr tops per day.
You are doing all your workings on the outcome on 1 winning trade. I can be a dangerous trap to do working only from what could be won from winning trades. So yes you could make more if you held you whole trade until 1.6150. You could also make more if you held it all until 1.6000. But you will also lose and be stopped out if price reverses against you and goes higher and the person who took profit and cut their risk would have still banked profit whilst you lost.
When thinking about profits and what could have been etc always first cover off the risk and what you could lose. If you protect and keep the risk in control then you can concentrate on the profits but cutting the risk needs to come first.
Hi,Johnathon,
Thanks for your quick reply for advice,I agree with you.Previously I just traded for Gold,and I traded short TF as 15M or 30M,I traded with trend line method,mostly I could grasp the price movement and took profit,but also for many times,at the beginning of shock market,I would lose money,as I looked this price action thread headed by you here,I think thatās really good as I want to find believable and stable trading method,I think I find it here,I have looked the first 25 pages now,I will look through all pages later to notice the details.Now my broker just has gold trading pair,I want to change to a new broker as to trade more pairs,here I have a stupid question,I installed the demos followed by the list from your first post,but they are not exact New York time,for FXDD and Hot Forex,the server time both are GMT+2,can you tell me if you are using same server time setting or exact NewYork time.
Happy New Year,
Critical level on the usd/jpy breached.
This will be of major relevance to an awful lot of traders out there and I believe it can fit in to the price action thread.
Major resistance on the weekly and seen previous rejection at this level before. Both support and resistance.
