I fully understand that part, mate. Once youâve experienced the freedom Forex has for trading, you no longer want to go back to equities trading with all its restriction. Depending on your stocks and your broker, it can be ridiculously sophisticated to do shortselling in stock market, while in Forex itâs practically no different to either go long or short at all.
Thatâs why Iâd rather do full-scale investing when it comes to stock market. That is the only way stock market is better than Forex market, itâs much easier to accumulate wealth via long-term investing in stock market than short-term trading.
Waking up to your humor and sarcasm never gets old willy, haha. I agree with your posting, and your right it all comes down to RR and win rate. As we have gone through before, someone with a 20% win rate could be making way more cash than someone with 90% or more with the right RR. I want people to decide for themselves which way they want to trade out of the two you mentioned, or somewhere in between the two. A trader can really go as deep as they want regarding learning the extra setups and S/R tools.
As always, thanks for the honest response. I must be getting back to my lair to count money, muahaha
Another setup which meets the plan requirements. NZDUSD 4hr BEEB. Pair is riding between 0.84 & 0.822. A decent size BEEB has formed at the top of the range. I donât like the 0.8320 area where the price is very likely to struggle. That is why, a failure to quickly and convincingly break will have me move the trade to BE. If it breaks it, I will move my SL to 0.8330 to secure a small profit.
The rating of this one is very low, letâs say 1 but if tight management is applied, itâs a take it just in case trade with an outcome being either BE or a 100 pips win.
The NZDUSD ? You canât call recent action a trend really. I do not pretend to know better what will happen but to me I see a good probability for price to act the way I described. if it doesnât, I promise I will take full responsibility !
Sorry to post a lot but I thought that it could be helpful for you guys to see the plan in action for a little while. Feel free to tell me if you think I am polluting the thread.
Honestly I think this is what we should do discussing setups as we see them and even update on live trades, I donât know if others will agree but I guess it is a great way to learn
The two things that stand out the most for things against this trade is how the bar is down in the swing and doesnât protrude up past all of the candles in that swing high. The other thing is the longer bottom wick which shows weakness in the bearishness of the candle.
You are sticking to your plan which is what matters to most. If you always stick to your plan it makes it very easy down the road to see the parts of it that are working and the parts that arenât. It is inconsistency in trading that makes it almost impossible to figure out where you are missing it. I wish you the best in the trade!
I am letting everyone know I am setting the minimum tradable timeframe here to 30 minutes. I do trade these timeframe everyone once in a while, but I wasnât sure if I should introduce it here or not. I think there can be high probably signals thrown down at the 30 minute time frame. At these lower timeframes a person really should understand at least the basic of volume analysis and be very good at finding key S/R areas. Because I have a Price Action That Matters for beginners thread, I am more comfortable adding in these advanced topics here.
Just remember this is a flexible thread and a flexible method that I teach so do not feel you need to trade the 30 minute, 1 hour or even 4 hour. If you do, you are welcome to post your setups here. Otherwise the beginners thread is also a way to stay focused on the basics.
