Yesterday lost 2 trade but today make it back , no more trade today, lovely week.have a nice weekend all.
Like the videoā¦hahaha
Its a very educational video explaining why EuroUSD is not just falling and falling and making all FX traders rich. This explains how fundamentals work.
Hi Nikita,
Always nice posts, including videos lol
I watched the other one too āMargin Callā and it was fun. Please let us know if you know any more video about trading and where to watch them free
Cheers,
100% agree with you, fundamental works.
I would strongly advocate that you guys watch Nial Fullers trading videos if you havent yet. They are available on youtube.
Its a good place to start for PA traders including how he picks SLs.
I have watched Nail Fullers stuff and taken his course quite a while ago. His system is solid and very simple for PA trading. I havenāt checked his vids lately but after a review like that. Going check it out later today.
I dont know if they are the same videos you watched MeiHua. Or if they are new ones.
I just found a series of his videos and I think they are a must for anyone who wants to learn PA trading.
And since its a video, its much more easier to see what he is trying to point out.
Hi guys, been overseas for most of last week. Looks like Sharabazar is doing great!
I am halfway through reading Mark Douglasās āTrading in the Zoneā. Very good book I must say and I will be reading it for a 2nd time at least and a 3rd time maybe to reinforce his points.
Even though I am half way through the book I realise now some of the mistakes I make and the fact that most of my trades could have been profitable. Am trying to realign my thoughts and be more disciplined with the trades and strategy.
I realised one of the biggest mistakes I ALWAYS make is being afraid to take losses. I will many times shift my SL in the hope that it can recover. When it doesnāt I blame the strategy or markets and start to look at changing the strategies and experimenting and all the while incurring EVEN more losses. It came to a point where I do not even put a SL!
So now I make sure once a SL is in it is in. No more changing. I can move SL up(e.g. to BE) but not down. This is my first small step to being successful, I hope :). Just a simple thing but means a lot to me and comes with huge repercussion.
As a side note I am long GU at 1.5748. Currently BE, TP is at 1.5802 and SL is 1.5727(5 pips below previous low).
Update : Got stopped.
I think a lot of people were faked out today by trading with the trend. Today is one of those days where D1 TF bias is your secret weapon.
here is a good S/R trade here. That green zone is actually the s2 weekly pivot but if you look at the chart price respected this level perfectly as a resistance level. I know alot here on this thread dont use moving averagesor fibs so I wont go into those levels that played a part in my entry. My stop is not shown on the chart as set took the snap shot then setup the stop it is now at break even but was at .9885. So a 25 pip (about) SL lets me up the position size. So now I will let the trade run and thats how you get good returns. Keep the stop as small as you can to increase the pip value.
AU H4 TF
AU H1 TF.
If we wait patiently, the setups will present itself. The patterns repeat themselves again and again. Always.
The problem starts when we want to get rich by Friday.
USD CHF H1.
This is the classic BPC pattern, Breakout. Pullback, Continuation.
Watch this closely. Enter if there is a nice SL or wave pattern.
Trade at own risk.
yesterday was a sell, today is a sell. GU at 4 pm GMT +8 was a doji (dono if itās a correct term). Enter short at the beginning of the next candle. Did I jump the gun? The market went back up a bit before going down further. Did I miss out something?
Anyway I did not trade, just monitoring and making sure I can apply the concept. I followed this thread from the beginning. I understand the concept but I donāt have time to monitor and analyse the chart. I only have the iphone version of MT4 which only allows me to see the candlesticks and not drawing.
Any kind soul, please advise.
You got 30% or so of the concept right.
Just make sure u draw some S & R lines, especially on Higher TF for a picture on where things might change or take a turn.
Then focus on trading those set ups.
As for trading without much help of charts etc etc, I cant help because I dont have experience in trading on an Iphone.
Anyone?
Dear Abbradaca,
Please donāt try to do your charting from an iphone. If you donāt have the time as you wrote itās probably safer not to trade at all or find a way to have the time. You cannot expect to be successful and not investing time in this. You have to see trading as a business. Some of the traders have been doing this for years and they dedicate hours and hours during night and day every day to watch and analyze charting patterns. You need to be able to draw lines and zoom in and out constantly. Maybe I am wrong but I truly believe that this is not possible from an iphone.
Look up an app called tradeintercepter its a free app and depending on who your broker is you might also be able to trade through them. Its not mt4 but you can draw lines, fibs whatever you need. Even throw on most indicators if thats what you want.
Thks for ur kind advice. Like what I said. I m not trading. Seeing from my phone is more like to be updated with the current market situation and practise practise practise to ensure I get the concept right. I will not put my money to risk.
Thks niki and bobmaninc. I will check out the other app. This is a great thread. I hv been a silent reader. Please keep it going. I will come back with more questions.