guys i cant trade live for cash for a 1 or 2 days, but i can demo.! its the end of the month and i cant have open trades as i am having a money transfer from my live account to my bank account. if you do not know already, during the process of having profit transfer from forex account to my atm cash account, you cant have any open trades untill they have done it…just incase you did not have a live account before…so now you know
Just a note: You can use any oscillator you prefer! i just prefer Demarker..........you can use MACD , stoch RSI.............i just prefer the Demarker
Here’s a short on the EURNZD…whether it’s an elephant or not, it’s a larger than normal red bar, on news. So far up +20 with stop at +5. Testing out an indicator I made a while back to alert when a large candles printed, but was for something else that didn’t work…I think I just found a new use for it
When I had my live account, it wouldn’t let me either because I had a mini account, so can’t go less than a mini. However, if I had a micro account and traded it like a mini, then I could have. I think that’s what I’m going to try to open for my next account.
Got stopped out at +10…maybe my trailing stop was a tad too tight…oh well happy overall. Going to bed now…it’s past 12 midnight and I have to get up for work in 6 hrs, plus I was up late last night working on other stuff, so bit tired tonight. Will try to repeat tonights success tomorrow night…night all
dukas require a attested id copy, example you should be able to go to your embassy with your original passport and have it attestedi.e. stamped by the embassy. If you open 5000 account then you dont have to have a broker, direct with dukas platform is the business…awesom platform
yes you can, but you do not have to actually draw it, its like a mental picture of how you view the market in order to determine. where price is which zone. Example, price is long , but you decide not to take an entry as the price long is within a bearish market. Or you do take the long but you set a quick target as you expect Bulls to take control soon. Another example, you see price at the 200 SMA you do not trade it as its in a sentiment zone and price can bounce or go either way. So you determine not to take a trade untill you get confirmation either bull zone or bear zone…understanding that gives a great edge
Ok i just want to get this clear, if we want to get the overall bear market or bull market, we look where is price in relation to the 200. Do we look at this on 1H or Daily like in the picture?
generally no, they start from the begining of the trend and re appear after every retracement… if the big money still has interest…most smart money does not counter trade such as retracements…there only hedging locking in profit there on retracement…i.e. if your first trade was on the retracment then you were caught with your pants down on the trade that you missed before the retracement.
i.e
step 1 - go short
Step 2 instead of taking profit you can hedge the retracement
Step 3 take profit on the retracement from hedge
Step 4 watch your step one entry grow again…thats the smart money
thats not easy…trust me, its like juggling, i am by far no way an expert hedger…those guys have split personalities…half bear half sentiment, half mental
In the picture is a daily,
i would use that information to determine the market if i was trading a daily time frame.
As a day trader, we can use the 1 hour to determine the medium view of the market…or use a combination of daily 4 hour and 1 hour.
basically after doing horizontal support and resistance lines from the daily and 4 hour and channel. I will go to the 1 hour doing short term Support and resistance …Then i look at the one hour and determine which market condition, i.e sentiment or bullish and so on.
I will look for areas where i want to possibly enter a trade. those areas could include the following:
I am looking at 1 hour chart: Price is heading up to The top of 4 hour channel which is bang on a important resistance area. and that area i marked from the daily chart. That specific area of the chart is in bear zone below the 200 and below the 20 on the 1 hour.
The current move up to the 4 hour channel, coincides with an important FIB level from the 1 hour or 4 hour. The distance from a possible long Squeeze seems imposiible from the 1 hour.
I am going to short at the touch of the 4 hour channel right in the Bear Zone BSC on the 1 hour…High proberbility trade
Ok gonna change things round a bit i will post a chart say for the next day of one currency and put on the chart possible entry points showing channels and so on. Like brief analysis. Then we can all follow the same when we have time…this will help everyone getting used to setting up there charts and nailing and forecasting possible entries way ahead of time.i will post one soon…lead by example
Usd cad …everyone please participate, its good for you…ANALYSIS CONT: PRICE MAY RANGE AT CURRENT LEV IN RESPECT TO WEDNESDAYS FUNDAMENTALS PMI. HOWEVER a brake of 0.98579 will put target 0 99133 in play.
