Forget about a…boring …week. It is important how you will end the month and the year. Focus on the longer perspective and you will find the way to profit. Definitely. Crums won’t feed you. What I do on daily basis in forex is just exercising my trading muscles. When I get a good move, that’s when real profit comes. Big money is in big moves (Jesse Livermore). We can be bored for a few weeks, but then the market starts moving. And it is these moves that we are waiting for, not just to be able to jump in and out of the market every day.
Ya, trusting yourself is key element in trading. If you lose it or do not have it, no long term success. I can rely on my technical trading method. But I must rely and jump on when I see a good situation comes. Sometimes it turns out that the situation wasn’t good at all. So, there is only one way to test if it is good. Place a bet. That is what I have been doing for some three years. Before that my trading was a mess. No plan, no discipline, no dream, no nothing. A heap of losses. Success takes time. It likes patience. It does. So be patient.
great thread Fibo, keep up the good work… I have 5 years experience trading stocks and recently have started trading forex and agree with your principles to trading. How much do you risk per trade, is it 2%? Thanks again for contributing yr ideas and thoughts
Best regards
Welcome. Your experience in stocks will also be very usefull in trading fx and sharing with everyobody in the forum.
In a range bound market 2% risk is my norm, although it veries from 0.5 to 10 percent. In a trend or a swing and sometimes using my trading news method I build a line of positions, so risk can be bigger. Of course, in a trend I always move my stops, so general theoretical risk could be about 30 percent, but since I move stops it never is higher than 10 percent. But yes, in daytrading my risk is never bigger than 2 percent.
eur/usd could continue strenthening this week. I guess 1.4000 is the resistance level.
Uploaded another video.
fibo it looks like it is going to work out fine for greece alot of other eur-contry will loan them money do you see what im getting at … ?
best regards
I see. I need to read more about that. I expect eur/usd to reach 1.40 level as I said in my last video. But as I said it has some resistance just where it turned around today. But I still expect eur/usd to go up. Now I concentrate on cad pairs, basically usd/cad. I expect it to strenghen. If the downtrend in the pair does not start the pair will reverse up. I think it has reached the bottom for now. So, I am getting ready for the longs.
Of course tomorrow’s meeting will be crucial. It can break the floor in usd/cad and then we will have a nice trend down. I would like this scenario a lot.
Fibo, i also expect a rebound of usd/cad, will have buy stop above 1.018 with tp targets at 1.023 & 1.025…In case loonie falls, i will have sell stop below 1.0139 expecting tp at parity…we will see
Entered a short. We will see what happens tomorrow. Ya. Parity is the most closest and important support level.
and my favorite gbp/ usd does it again 
finaly
best regards
I sat almost idle this week. Ya. Pound rally was cool. Will do a video tomorrow.
No new video aint got the time or what ?? pound did some movment and was good for about 50 pips or so but it was verry fast gaping up and then moved quickly and then retrace back some and the following candles almost take back all the profits one must move verry fast in this bussiness
best regards
Ya. No much time. But I will find some. Did some nice pips in gbp/jpy yesterday and today.
The end of last week was quite profitable in manufacturing and nfp data trading. Today two nice trades as well. Cad data moved markets quite a bit. gpb/usd gave a breakout trade from 3 day range and eur/cad and gbp/cad moved really nice after cad news (those two are usually very good runners). Promise to do a video this weekend.
well i could not trade gbp but cas vut not the pairs u mentioned dont have them i have usd /cad and that did som 75 pip or so move that was great. good to see i think the news affect otherwise have been pretty low for some time now so good to see some movement again.
best regards
Good to hear from you again. Last week thursday and friday gave us some good opportunities as well. Other than that I took only one technical trade in 3 weeks in gbp/jpy, 2 news trades last week and this week a few nice trades. Generally speaking the less I trade the better I trade.
I finally had the opportunity to review your whole thread - it certainly is a very interesting one I must say. Thanks for sharing your ideas & thoughts with us, it is always useful to see different perspectives & strategies. Being interested in news trading myself, I will be closely watching this thread of yours
Did you happen to catch the 2 moves - from GBP & CAD - yesterday? It was a good day for news traders.
Thanks for reading the thread. I caught only the news move in gbp/cad. I do not know what you mean by two moves. Do you have in mind a reversal that came 30 minutes after the news came out?
I caught the move gbp/usd in the morning though. It was a nice technical breakout. You can see it in most gbp pairs.
I was referring to the GBP news, & the CAD news. Which one did you trade?
I traded cad news. But earlier in the day took a gbp/usd breakout up. A technical one. Purely technical.