Hi Gssg,
According to the bias I will go short but only after the election. We need to wait for the price to stable otherwise we can stop out unnecessary.
We have Election tomorrow and NFP on Friday, we can make good amount of pips but our SL need to be very long and I don’t know how much. For me I will wait for next week for GBP pairs.
Look for AUD / USD pair and EUR / USD pair getting ready for potential move down.
Hi Sharebazar,
Yes I totally agree with your saying on the GU. No point wasting bullets like that. Should wait until we are sure then we pull the trigger.
As for AU, I am also monitoring it as the last week candle was also a pullback, similar to GU. But I am not sure about EU as it seems like prices is still going up strongly. Not only EU, but most of the more common euro pairs as well. I think for EU, probably the next resistance will be around 1.14744 region, den maybe look for signal to short.
Hi Gssg,
Good to see you back. One more post for promotion!
I have many questions but just mentioned few questions for traders.
What do you look at the chart when you analyse.
Do you know why your position hit SL.
What do you do when you have more than 8 loosing trades in a row.
Do you have a plan and are you really following the plan with decipline.
What is your main weakness and how often you make the same mistake.
What do you do when you have winning trades.
Do you exactly know the reason for price movement, what is main driver of the price Fundamental, Technical, sentiment.
What is the advantages and disadvantages to be a retail trader.
Please try to answer as many as possible, no limitation, and more importantly if you have any questions please feel free to ask.
Hi … I am new to PA … If this thread can be made as PDF , It will be helpful. Also We can post lots of new setups we are looking at …
Hi Naadhan,
Good to see you here. Please feel free to post new setups. Yes PDF can be very handy but is there any one who can do it.
Thanks ShareBazar 
… Will post the setups I watch … Here
Hi Naadhan,
Somwere in this trhead is a PDF like Nikkitas trading plan It is mostly the first 20-30 pages of this thread.
I have it somwere but I dont know if I can post it here. The method today has changed a little bit
TC
http://forums.babypips.com/asset.php?fid=69659&uid=273709&d=1431074214
This is the Link to the PDF.NikitafxTradingMethod.pdf
NikitafxTradingMethod.pdf (602 KB)
My answers. Would like your opinion or have a little discussion about it Good points to help me forward as a trader. Thanks
What do you look at the chart when you analyse.
>>Structure, trend, bias, pattern, S&R, S&D
Do you know why your position hit SL.
>> Possible 2 reason. 1st is wrong analysis, 2nd is stops hunting by broker.
What do you do when you have more than 8 loosing trades in a row.
>> keep calm. you should know your win/lost ratio and max loosing number from backtesting result, so be prepared for the loses (I know is not easy), move on to the next trade.
Do you have a plan and are you really following the plan with decipline.
>> You should have a plan before going live, if not please stop trading and go back to demo. Discipline is the hardest part in trading I must admit.
What is your main weakness and how often you make the same mistake.
>> discipline and not over trade are the 2 weakness that I have, and not easy to get rid.
What do you do when you have winning trades.
>> happy of course. but move on to the next trade.
Do you exactly know the reason for price movement, what is main driver of the price Fundamental, Technical, sentiment.
>> I’m purely a technical trader, so I just focus on chart.
What is the advantages and disadvantages to be a retail trader.
>> not sure, but freedom might be my answer for this I guess.
Hi TC,
Thanks for your answer.
What is your main weakness and how often you make the same mistake.
It is really hard to find out our own weakness but it is not impossible because if we compare our trades 1 winning and 1 loosing trades.
First we need to compare both reason for open position then we need to find out the reason for win and reason for loos.
If both trades reason are not same then we have to work on it. Compare more trades and try to find the reason.
What is our weakness and find out why we are making the same mistake. What we need to work on or is there anything we can change before we open position.
Weakness can be many types but it is very important that we know our weakness otherwise success can be be very difficult.
I hope I know my weakness… It is fear of loosing. I haven’t taken more than three trades even in demo till date. I observe just if my setup works by paper even when i demo trade.
Very Peculier but true … # trades in 3 years … … Trying to overcome that now.
Hi Naadhan,
Great it will take you less time to overcome your weakness because you know what is your weakness.
Do not follow the path of fear you will only get fear and empty hand.
Follow the path of faith and believe, once you believe your brain will try to figure out the easy way.
To become consistent profitable trader you need practice and the only way you can practice is to open position just forget about the result.
I think Mark douglas said it something like… all the trades that you have loss eventually turn into all wins if you learn how to trade in the zone. Thats a very positive affirmation to those who are afraid to lose it;s essentially saying its ok to lose because if you stick with it and figure it out those same losing sreaks turn into winning streaks. In steve nissons book about Japanese candle sticks there used to be trader gangs who used to run the rice markets which is why candle sticks were even invented… anywho the leader of one gangs once did 100 winning trades in a row. Thats freaking awesome encouragement.
Hi everyone what do you think about this pair EUR / CAD.
Two green lines can be a potential entry point.
Hi Jasoncyj,
Welcome to the thread, good to see you here. Thanks for your answer.
In my opinion stop hunting by brokers is not correct. Because broker makes money through our trades and if we don’t have money then there will be no trades and broker will not make money. May be a wrong concept.
It looks like you have a good knowledge about trading.
Hi Sharebazar,
I am also looking at a few euro pairs this week, including this Eur/Cad as well. Glad that my study is in line with you. There are 3 other pairs that I am looking as well, waiting for setup to occur in order to short, EU, EJ and Chf/Jpy. What do you think? Your comments please?
I see that these are the only 4 pairs under my radar for this week…
Am sorry … I was not clear with the initial PDF … can some one here explain about the rules with little more clarity pls ?
