Just subscribed to the thread, great work Horlique. For those who are concerned about losses, just remember; If you keep your risk/reward to at lease 2-1, you can lose 50% of the time and still come away with a profit.
I’ll be following with interest from now on.
Happy Trading!
ok i am still looking at any possible entry; according to how the candles closed on friday there seems to be no clear cut signal on the major pairs(am trading): meaning we have to wait and see where the markets will open today evening. Stay close to this thread you will learn two or three trading ideas.
If you are interested in other services that am providing ;please visit my profile and contact me for more info.
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please continue sending the ‘LIKES’ and inform people about my forex account management program. Thanks.
Happy trading week to all.
For the records so far we have been able to have the following statistics on our trades via signals posted by me on this thread;
26 trades risking 2-3%(we risk three percent when we have atleast 3 possible trades risking 1% on each position) per trade which includes;
within those 20 wins; we have made 8 home runs(atleast 2times reward per trade )that is we have risk 2% to make atleast 4% which is very good.
So if you are following signals on this thread these are what you will need to know/do;
1)That you have to risk the recommended risk which is 2% per trade; you have to choose a dollar amount you will be risking per trade like if you have a £1000 account, you could be risking £20 per trade and £30 per trade(if we are to risk 3%)
2)That you should never be emotional after a win or loss to the extent of posting negative comments. We as traders should learn to put our emotion in check. The market does not care whether you are crying,laughing or weeping, she will go where she feels like going we can only follow her to make money.
3)That you should never ‘‘bet the farm’’(dont ever risk more than the recommended risk) on any trade: because its easier to stay calm after a 2% loss than after a 6% loss.
4)That we may sometimes incur losses which is inevitable.
5)That you should contribute positively to the benefits of all following this thread. Thats if theres any news or technical outlook you can post for all to share.
6)That posting signals on this thread is not welcome; am the only person who should post signals. Please if you have any signal and you feel its a sure trade its either you sent me a private message or you start a new thread and post your signals. It wont be proper if i post a buy setup and you immediately post a sell setup; this will confuse many following this thread. If i post i signal and you feel its a wrong call its either you take it or you dont. Please dont post negative comments after a signal is being posted. Am not a forex god am just a simple guy who loves sharing the little i have, i dont know everything neither do i have a degree in Economic/banking.
. Lastly if you have any signal you want to post send it to me(and explain your reason behind the setup) i will look at it and post it giving credit to you as the provider, I HAVE THE LIBERTY TO POST YOUR SIGNALS OR NOT TO POST IT. SO DONT FEEL BAD IF I DONT POST IT(that does not mean you are not a good trader).
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Thanks for your reply.
What major pairs do you normally trade or look for set ups.
Nadeem
Horlique:) I have a question to ask u.
Example : -
Buy 1.23000
Stop loss 60 pips
( which means stop loss at 1.22940? )
when i input 60pips i mean Sixty pips, ya stops will be at 1.22940(if you are using 5-digit broker), for 4-digit broker stops= 1.2294.
Setting stops is easier if you are using MT4 platform.
the usd pairs(except usdcad and usdchf),nzd pairs and goldusd
[QUOTE=“Horlique2;509278”]
when i input 60pips i mean Sixty pips, ya stops will be at 1.22940(if you are using 5-digit broker), for 4-digit broker stops= 1.2294.
Setting stops is easier if you are using MT4 platform.[/QUOTE]
Wouldn’t 60 pips be 1.224? The fifth digit is a point pip ie 0.1 pips?
I believe that is correct.
the most important thing is that you can easily set 60pips(sixty pips) stops when we have a setup, i believe my earlier respond was correct(i may be wrong) . You can do the maths or ask babypips or ask google
[QUOTE=“Horlique2;509300”]
the most important thing is that you can easily set 60pips(sixty pips) stops when we have a setup, i believe my earlier respond was correct(i may be wrong) . You can do the maths or ask babypips or ask google[/QUOTE]
By giving out these signals people are essentially looking up to you as a teacher. So the important thing is that the information you give out is technically correct. Even if it is answering a simple question.
I was following this thread since july 1st, man your forecast are great! I’ve been playing around 40-50 pips profit. All are good. I was only risking 1:1 and never even have to worry losing. Please keep your forecast man. Appreciate your great effort.
[B]Some interesting things about these pairs(my favourites):[/B]
[B]1)Eurusd:[/B] This market surge higher from the long term support 1.27600 to 1.32050(which is the near term resistance), but on friday price formed a powerful rejection at
nearest term support at 1.30000(a very powerful psychological levels many big traders are closely watching this point). I expect price to surge higher to atleast
1.31400-1.32050 before price may likely fall like a rock to 1.30000.
[B]2) Gbpusd:[/B] I expect this market to move higher to may be 1.51680-1.52840 so we will likely look for a sell entry once price reach this level depending how price will
move this new week.this market is still very bearish so its wise we look for short entries. the key support and resistance are 1.48160, 1.52840 respectively.
[B]3) Audusd:[/B] price moved down over 170pips after a powerful bearish signal was formed on thursday 11th/7/2013 . price failed to break the psychological level 0.90000 so
if price open above this level we will likely look for a decent lower price rejection entry to buy into atleast 0.91800, but if price open below 0.90000 the sell may
continue. if you look at the weekly chart a powerful higher price rejection candle has formed signaling continual selloff, but we have to wait and see where price
open this sunday. if price close below 0.90000 Audusd may continue failing like a rock.
[B]4) GBPaud:[/B] In this market the Bulls are still in control, i expect price to continue moving higher to may be 1.68000-1.68666 being the next visible resistance zone, so
we will likely look for more buying entries here.but once price hit the resistance levels the bulls may be tired of running for the bears to take over.
[B]5) Euraud:[/B] price close above the resistance point 1.43900 on friday but i expect price to retest this point many times before moving up: the last time price actually
closed above this point was in August 2010 this shows that this point is a very powerful resistance level. we will only make trades base on what the market present
this week. most likely there may be a violent selloff or bullish move cos alot of stops(buystops or sell limits) are here now,at the end the big money always wins.
[B]6) Goldusd:[/B] price is close the resistance point 1300.500, so i believe price will hit this point before falling like rock to may be 1211.400.
so if price hits 1300.500 and finds it difficult to break and close above this level , we may likely look for sell entries to push price lower.
[B]7) nzdusd: [/B]price formed a large perfect spinning top on thursday 11th/7th/2013 at near term resistance point 0.78700 which resulted in a huge selloff on friday to
0.77490(depending what price you saw on your broker), but on the 4hours chart a nice sell entry formed giving us an opportunity to sell on sunday open depending where
the markets open but theres a problem, on the 4 hours chart the sell entry is very close to a intra-day support at 0.77580 so depending how the markets opens tonight
i wish all a happy pipping week.
thanks alot
ok noted, i will do my best
The market is trying to pick up after some crazy moves last week, so lets see how things unfolds.
Happy trading week to all.
Hi - I’m new to BP and forex although I have been trading indices for a few years now. Thanks Horlique for all this interesting material. I’m looking forward to learning more from you and your trades.
J.
you are welcome
Hi horliques,
I’m trying to pm you about some advice I’ve seen on some inside bars that formed on Friday, but baby pips isn’t allowing me to.
They are Eur/jpy, Gbp/usd, usd/chf, usd/jpy.
I’m fairly new to trading have been demoing and studying the markets for about 2 years but do not want to go live until I’m am 100% confident.
I like price action trading am using candle formations it seems to be working well fr me lately.
If you wouldn’t mind do you have an email address so that I could pick you brain?
Thanks
Mahesh