with great respect i want to inform you that i not only read the front pages but also write down the important notes on my diary
but still now i am not understanding what yo are talking about OVERALL TREND AND SHORT TERM TREND
i ask it before but did not get any reply so asking again that for our 4 hour chart how many days data will we use to get short term trend ? and should we zoom out our chart for getting more data?
Zubairattul. Youâre support and resistance lines all well plotted now move on looking for PA.
A suggestion: If you post only images and say things like: Is it a good trade? Am I right? Donât expect too many answers and help. You need to come up with concrete things, moves for example: I spotted pinbar at R/S level âŠblabla⊠I considered this ⊠and that⊠and than you get the opinion from others.
thanks for kind suggestion but before i concentrate on price action signal i need to correct my s/r lines
and as jonathin suggest draw only 2 lines one is below price and another is above price
so i was confused about the lines as drawing only 2 lines is really difficult
thats why i post like this as i am correct or not
again thanks mate for quick reply
Zubairratul - itâs great that youâre trying to practice and learn. However seeing so many charts with very little input from you doesnât give us much to talk about. So I suggest posting only charts you donât understand or want to ask us some question about it, so we can actually talk and not just watching you.
To take it further, in my opinion, the key thing we are trying to do here is look for A+ set up and identify the support/resistance such set up will need to go through. So I think youâll learn much more posting chart with actual PA that you think are A+ set up along with all your levels; ie., stoploss, target, trouble level, S/R and etc.
This exercise will teach you not only how to mark levels but patience as well since A+ set up doesnât come very often.
I have a question for all if you seniorsdont mind to answer⊠have any body of you have ever made serious money out of forex???
Hallo Zubair,
Your S/R lines are OK, they are well marked.
Now the next thing is to identify PA at your marked S/Rs
You need to trust your S/Rs. Of course sometimes youâll not get it perfectly right, it doesnât need to be! And thatâs why we discuss potential trades and charts, that way we self-correct.
Hope that helps,
Cheers!
I just dont believe that this Pair (as well as Eur/Jpy) will head down. My reason is: I think that the reversal is real and has not got to its destination yet, which is around 174.700. I might be wrongâŠ
thanks for help me growing up my confidence
i thought my s/r zones all are rubbish
and again thanks for your quick reply
WELL DONE ! MATE
ALTHOUGH i understand your explanation about recent swing (short term momentum) topic
- recent swing
2)retracement - again prepare for taking trade confirming with price action
but if you post some more chart about most recent swing it would be great:20:
nice explanation mate
WELL DONE!
Hey dudest, nice charts man. Iâm curious: if a clear signal formed at support on the GBPUSD, where would your profit target(s) be? A lot of clear sky above⊠we could of course go back, way, way back to 2009. Would like to hear your thoughts.
Thanks man
Hey FJ,
Thanks for answering my query. You raise fair points that Iâd like to comment on.
I agree with you that we should only risk what we are willing to lose. This risk is encapsulated in our SL.
However, as we all know, it is the market that should tell us [B]where[/B] to place the stoploss, not our choice of lot size. So if our edge tells us to place an SL at a given place, the only option we are left with is to adjust our lot size to accommodate the $ loss we are willing to take on that trade [ i.e, position size ]
Thus, having an SL placed somewhere (in theory) and cutting the trade before SL coz it got to a $ loss that you couldnât afford simply means your lot size was too large for the SL you needed on that trade. I know there are times when it makes sense to cut trades early, but across a large sample of trades, those are very few.
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A bit of encouragement: the break-even period is a phase. A mental shift ( [B]trusting[/B] your edge & gaining [B]discipline[/B] to stop mucking with trades ) will take you to positive gains, I can assure you.
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At FTA, you can do one of four things:
(a) Take full profit
(b) Take partial profit and move to break-even
© Take no profit and move to break-even
(d) Do nothing
The choice of what to do lies entirely with you and depends on your evaluation of the tradeâs chances to keep moving in your direction.
A good way to develop the skill is: go through past trades, and take note of how price behaved before getting to TP, and what you would have needed to do (in terms of trade management) to get the full benefit of the trade. Youâll glean fundamental insights from that.
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Cheers mate