Yea, its tough.
Arenāt you applying the strategy to the 5 minute chart?
I am using the channel strategy on all time frames, including the M5. I am also applying king of Forex EMA strategy on m1 and M5.
Oh i see.
Thkx a lot for strategy. I am still on the demo account but i am gaining confidence to start on the real account coz the strategy works. ( just need to be more disciplined )
Anyway what is king of Forex EMA strategy. I canāt find it
You bet. Wishing you much success!
The king of Forex EMA strategy would require you to search king of Forex on YouTube and watch some of the videos.
1 Like
We are back to the low for the week on the Eur/Usd. Its getting close to the 500ema.
1 Like
Cad/Nok daily
Looking good. Its been a long wait (June 27 first entry).
Iām still looking for 1500 - 2000 pips
Eur/Usd should hit the 200ema and hopefully bounce off. Looking for 50-150pips.
Incorporating KoF theory into all of my strategies, so it doesnāt seem to matter if price goes strongly against me. The more it does, the more my cost averaging entries will profit.
Yea, Iāve been watching it too. Are you waiting for the bounce first, or already in a short as price gets closer?
You can also use the magnifying glass in the top right corner to search this thread. Just make sure to check āSearch this topicā.
I am already in. But keep in mind that I donāt mind if it takes days or weeks to get into profit. I will simply contemplate whether to make additional entries depending on the price action.
1 Like
Your odds that EURUSD price pushes through the 200?
1.12?
No idea, Samey. I know Iāll be closing long before it gets there.
I hesitate to make predictions because I donāt want anyone to have a bad trade and feel like I gave bad advice. You know me. I only care about winning. So either I make my money because it goes straight up or because I took advantage of the next pullback.
No, I completely get that. No worries!
I think I just get impatient really. I just need to relax a bit more.
Itās not easy to relax when Forex trading, is it? I can be relaxed because my entries are small enough so that it allows me all the time I need to wait it out without worrying about some huge loss.
Between my er/usd and my cad/nok - they go against each other so when one is heading more into profit the other one goes more in the negative and vice versa. So even though I expect both of them to be winners in the long run, they offset each other while Iām waiting. In other words, my loss level stays about the same. If Iām down $100 it tends to stay at about that same level all week long. If I only had one pair being traded, then I would be down $200 all week long.
Itās easier for me to be patient knowing this inverse relationship tends to prevent any wild swings. I felt like I needed to start using these daily and weekly charts train myself to deal with the decision to do something or not do something once or twice a day in my trading.
Now that Iāve been doing it for going on 3 months, I can say it has been a very relaxed and comfortable mode of trading.
But I am looking at incorporating a lot of the same trading style into my 1 minute charts also. Iāve been looking at the m1 charts the last few days and it looks like I would have to go back to getting up at 2:00 a.m. to make the most of that though. More research needed.
Thatās really interesting. I guess kinda like hedging in the short term, right?
Yea Iāve been caught out on this several times, especially on JPY pairs.
Its working great today.
You get to profit from Eur/Usd going down today.
I get to profit from Cad/Nok going up.
Iām at 450 pips profit on the Cad/Nok now, but am hoping to get to 1000 in the next week or two. Then on to 2000 in Sept.
By then, I hope Eur/Usd will also provide 100 pips but at 10 times the entry size.
Fingers crossed.
Edit: Of course, I will be adding positions when appropriate to the Eur/Usd trade.
1 Like
Indicator for D1 chart seems to think a bounce is near. However, the D can move if downward pressure persists.
One can always wait for the channel signal.
Trading day recap:
Lost 27 pips on the morning spike on chf/jpy.
Decided to take 500 pips profit on my cad/Nok.
The indicator that signaled Eur/USD should go up a bit, also told me the CAD/Nok would go down a bit. Therefore, I took the profits and can continue cad/Nok buy entries on the pullback.
Really pleased with today.