sp 500 climbing higher. very close to brn 1800. Stay tuned for potential CT.
Night
Hi,
Indeed it was a Beeb ,but it moved on and stopped at a super critical level today.
I suggest if anyone is still short from the Beeb a few weeks ago now might be the time to
trigger TP 3.
Cheers
And the AUSUSD has just formed a nice PB on H4 which did rebound of VBN .9200
Kiwiman
Heya Sivricmarijan,
this reply is a bit late, but better late than never.
Price has been a mess on this chart for months now, but it finally has broken out and may now be clearing out and setting up for some nice trades. Price has now broken out higher and if price moves back lower I will look for trades at the new support level on intraday charts. There is a near term level in the way and then a lot of space for price to move much higher.
USDJPY DAILY CHART
Great to hear you have turned the corner and are no longer losing money. Next step is learning how to make money and then making those winnings compound! It is amazing that once you can start making even small percentages consistency and compounding them you can start building a large account. I think someone came up with the figure that if you can make 5% per month and compound that works out to 80% year and if you can make 6% per month that works out to 100% or doubling your account each year. So obviously with 6% if someone risks 3% per trade they need a few A+ trades per month taking into account wins, losses, break evens etc
One thing that I find traders still find hard to get their head around is that more trading does not equal more profits and it is normally the opposite. Just this week I was helping a members with his last year of trading log and what really stood out were the best two months he had were the two months where had traded the least! All the months where had had made a lot more trades he had not done any where near as well as the two months where he traded almost half as much. Basically he traded half as much for much better results. I see this sort of thing all the time.
It’s not about trading more, but trading more high probability setups. We need to be trading as many high probability setups as possible because the more high probability setups we can trade the more we can turn over our edge in the market and the more money we can make if we have an edge. What tends to happen is that traders forget the more trading of high probability setups and let themselves down by trading more of anything. This then waters down their edge and they start the losing process and this is when more does NOT become more. More then become LESS.
Really great to see you have turned the corner now! Time to concentrate on money management, trade management and protecting your capital to always live and trade another day!
Safe trading,
Johnathon
You mean your looking for counter trend trades? Sorry just trying to clarify?
Keeping it simple is definitely the way to go. Just keep in mind; Forex pairs are not in trends the vast majority of the time and a really common mistake traders make is spending their time trying to find trends one way or the other that simply aren’t there.
The trends we want to be trading with are obvious and can be seen by all. They don’t need mathematical equations to work them out and when you flick your chart on you can quickly identify them, not spend a long time trying to work out which way it is going.
There is no clear trend on the EURUSD daily chart at the moment. I would happily take trades from any key level, but I would be very careful not to get caught out making trades in the middle of rubbish at the same time.
Johnathon
Nice chart! :35: There is definitely a lot of nice pairs now shaking out and getting ready for some solid setups.
Thank you Johnathon for your support.
Buy Trade on GBP/USD, now I have moved SL to break even. Hope fully my TP will reach today.
I know this is a risky trade, Risk Reward of 1:1.
Now I have changed my mind set for trading. Not aggressive any more, looking for good set ups, spending less time on charts.
Thanks a lot to Jonathon for teaching simple and powerful trading method.
Yes possible counter trend trades if they present themselves. as this is the highest sp500 has been, it may even make its way to the VBRN of 2000, now i can imagine if it makes i there it will be fireworks.
Thanks dudest for posting this pair, never bothered looking at it before your post.
Darth
Update on that EURNZDH8-Trade
My first TP-Area got reached and I moved the SL of the remaining position to BE. This remaining Position got stopped out lately after. Price then went off in the estimated direction and reached my second planed TP; sadly without me on board…
My plan was to hold a small portion and look for a breakout out of the second TP-Area and this seems to be a good idea…but again, without me on board for these pips :49:
So, to recap this. I hold to my plan which is good. Now I am struggeling with the move of the SL to BE which cost me a lot of pips. But in the end, when price reversed and touched my SL there was no way of knowing whether it will go south heavily or not, so it is good that I have not touched my SL!
Cheers
Hi,
You made a great trade, super level and super PA. As Dudest said all you can really ask for
is price to hit first Tp, the rest is a bonus.
How you planned your trade and how you stuck to your plan goes a long way.
Cbeers
AUD/NZD is forming a BUEB on 4 hrs. Not closed yet but the pair seem to be reversing.
Hey guys this is a little off topic, but since this is such an active thread i wanted to get a quick opinion… I’ve recently been trying out a strategy (http://bit.ly/17TBDWo) on the EUR/USD and have got a favourable result (widget) but it seems a little sensitive in the beginning to volitality and was wondering was there a way to enhance the concept proposed?
thanks
YES YES YES! My line looks the same! 
I am also waiting for price to move lower and I hope there will be an A+ setup in this area! Thanks Johnathon!
GBP/NZD make the new trend your friend…
your right its off topic dude. your best starting your own thread.
Cheers
Darth