Just out to do an errand! I’ll talk to you guys again in a couple of hours! My trade’s still in the red. Haha. I hope there would be improvement when I get back.
Hi guuuuys! Another rainy afternoon from the Philippines! Haha. I got home late yesterday so I wasn’t able to get back to you guys. If I got home earlier, I probably would’ve been able to adjust my SL and not get stopped out!
But anyway, I hope I could do better with my next trade. Good luck to us!
I’m still waiting to see how the latest green candle plays out and maybe I’ll decide to open a trade or not then. What do you guys think? Do you have any open trades for other pairs right now?
Hi guuuuys! Happy happy Monday! How are you all? I’m pretty excited for this week. Haha.
I don’t think I’ve mentioned this before but I also like listening to K-pop. (I hope you guys don’t judge me. ) But yeah. And just last night, a duo from my favorite group released the MV of their mini album’s title track. Haha. Soooo happy and so proud of these boys!
Here it is, just in case you wanna give it a listen!
I know I shouldn’t fangirl here!!! Hahaha. So I’ll really try to contain my excitement and maybe just release it on my other social media accounts. Just wanted to share this with you guys though.
Okay. Now back to regular programming. Hahaha. I opened another long trade for NZDCAD @ 0.88407. I’m still in the red right now, but when I checked earlier, I was already a few pips in the green. Hmm. So let’s just see how this goes.
Again, for this trade, I’m trying to use my 200 and 50 MAs as my dynamic support and resistance. So, I placed my TP around my 200 MA area, and my SL just below mg 50 MA area.
I can feel the happiness in your journal because of all the emojis I’m seeing!
My older sister used to listen kpop when she was younger, but not too much now,a huge anime fan as well
Hahaha. Well, I try to keep a cool head even after getting stopped out. But, so nice of you to drop by. Thank youuuu!
Well Hahaha. I feel like your older sister and I would get along! I love anime too. Haha. How old is she? (If you don’t mind. )
I’m surprised you’ve not been ripped a new one for your liberal use of emoticons!!! LOL!!! I have for my liberal use of “!!!”. LOL!!!
Funny enough: guy from TradeStation on the live chat the another night asked me if I was upset or cross with him (because of my “???” and “!!!”). Too funny.
Hahahahaha! Yeah I see you use that a lot! I hope you don’t mind if I use it too sometimes LOL!!!
Is this how you look like whenever you use it? Hahaha.
Alrightyyy! Hey guys. Happy Wednesday! I just got home because I accompanied my younger sister in filing her university application. Aww. Our baby’s growing up so fast! Huhu. She might live in Manila soon. I tend to be a protective older sister so I have mixed emotions about this.
Anyway, how are you guys doing? My NZDCAD got stopped out again. So I’ll take this as the sign that maybe I should take a break this week and not open another trade.
Turns out that you really have to be cautious with trading double bottoms too. I thought I got this one right cause all my indicators and chart patterns were hinting that price will go up. I’ll try to do better with my next trade!
Not so fast!!!
I will admit that is a very scary chart (but I will spare you the usual argument of stocks vs. FOREX shall I!!! LOL!!!).
For me: double tops and double bottoms are real nice trades. But then I only use one system to trade them. It’s called “Memory of Price” and it’s in the eBook on the link below (which IRONICALLY is indeed for FOREX traders). Just thought I’d mention it to you is all. Put it this way: even on that scary chart I can see some trades that were profitable.
Anyway. Here you go:
High Probability Trading Setups for the Currency Market - Kathy Lien and Boris Schlossberg
My knowledge of double tops and double bottoms are pretty basic. Maybe that’s why I wasn’t able to successfully anticipate the price movement.
I think this is the first time I heard about this. I’ll definitely look it up in the eBook and see how I could use it for my next trades. Thank you soooo much for sharing this. Just out of curiosity, would you open a new trade looking at this chart?
I looked up the “Memory of Price” and I just have to say that I’m excited to see so many interesting trading setups here! Wow. Haven’t read them though. But thanks again, Dale! (I hope it’s okay for me to call you by your first name. LOL!!!)
Of course it is. Dunno why I’m still referred to by my login name or whatever.
Well first: not sure I’d trade that with YOUR money let alone mine!!! LOL!!!
This being said (partly in jest anyway):
I think you’re pretty much missed the trades. From what I can see from just the last few swing points: you’d have been long and now short. Although it’s a bit difficult for me to see i.e. could be that you would have been stopped out on the short trade already UNLESS you you’d been using one of my little tweaks to this (which basically means no hard stops and you would only have closed out if price closed ABOVE where Kathy would have had you place a stop). Go through the book and whatever as I’m sure that will not make any sense until you have checked the system out and then I’ll explain nice.
Not a bad book to be honest. I’ve never stuck with any of the other systems in it though (matter of fact have tried very few of them so cannot vouch for all of them). If nothing else: the intro. (where they discuss trading psychology and risk managment etc.) is worth it’s weight in Gold.