think of it in this way. why are so many poor people all around the globe? is it the absence of jobs, underpayd jobs, or most of the people don t want to study and don t even make it thro hischool? and i m not talking about the really pure countries from africa here. i m just saying that some really work hard and stick with smething till they achieve theyr goals and others just lack the ambition and they just satisfy themselfs with an ordinary job, underpaied and blame the goverment? i think lack of education is the major culprit here. if ur looking for others to blame u ll always find reasons, it s hard to look upon urself at what ur not doing. again this is just my opinion. but i do encourage u to talk with some other people that make a livin from the markets and see what they say. u ll never get pass these hurdles if u don t admit ur wrong and change something. if u do same thing over and over and expect different results then that s really INSANE
I got the hint. A lot of people claim to make money, and even if they donesnāt necessarily sell something, I mean, it sort of looks likeā¦: we need to find someone that is really making a living off the markets.
I remember someone posting something like this: "Is anyone there that is full-time trader? Making a living off the markets?
I donāt really remember if it was someone, but I do people that were talking about such person if it even exist. Like it would be a legend some sort of story. Very very callous the markets.
feel free to think what u want dude, i just shared my point of view. ask around, talk with people, and see what they tell u. and yes best would be to learn from some1 that u are sure about that is makin consistent profits. anyways, talk more in comin days dude, i need to get some sleep. cheers
go here dude, and just mimic what denis does in demo, he posts the trades, analissis and so on. u can see for urself .
Thank you for all the replies. I started to get some hope. Iām gonna check what this dude is saying.
this is another very good thread that i follow, i used to post vsa trades there till some dude said i m getting rich from forex lol so i stopped u can see some of my trades and analises there 2. cheers
@1odi Do you think EURJPY is a good sell on H4? AUDCHF after all skied. Not only wouldn t lose money but made profit aswell.
In guess it s because I closed my orders lol. Because after this the āmiracleā happened.
i did told u to hang on, i told u what price ussually does before turning aroundā¦ forget about that, learn from itā¦ there will be other tradesā¦ i m short EU since last night, wanted to add another position but there aren t enough buyers to drive price for a pullback.
Screenshot by Lightshot in my opinion, not yet, i m waiting for that trendline break, also has to change dir from 1 hr or even 4hr point of view. it s bearish yes, but i never know what price will do, so i need proof to be sure of my bias.
Screenshot by Lightshot
common knowledge, nothing i invented, but if u follow these simple conceptions, u ll find urself on the winning side more then on the losing side. moreover, no matter what u trade, etfs, stocks, indices, whatever, prices always goes up or down in waves, knowwing when to try and take advantage of these waves is crucial, and ofc not every trade will win, but ā¦just try itā¦u don t need volume necessarily, u don t need nothin like i said, trendlines and support and resist horizonal and vertical, static and dynamic. doesn t get any simpler then this. take a look, in 2 days and a half from 500 buck almost 20 % return lol, ofc i m risking 5% on each trade which u shoudln t do, but if there s volatility and price is movinā¦now go tak a look at ur reall account see if the price is doing exactly what it does on my charts
i wanted to buy also aussie chf, but i didn t, cos it just gave a shallow pullback, and i don t trade those, unless it right under 200 ema or above, cos i hate drawdown and i don t wanna have larger stops, so that s why i wait for nice reasonable pullbacks and set my stop where if the price kicks me out the long or short bias is no longer viable. and i lose a bit not hundreds of pips cos maybe will come back etcā¦ again just my view and how i tradeā¦ but people are different, have diffrent views, and that s why it s nice, cos if we d all see the same thing we d all be lossers or winners
@1odi āIn told you to hang onā lol. Iām pretty sure you and anyone here was expecting this to drop another 100-200 but this are my trades after all. I did close them.
Considered to look for USDCAD aswell, I will gradually make the money back. Also want a pullback for AUDCHF and EURAUD to enter with stop loss this time not the whole account.
go and read the whole comments, are all there. what i said is, wait for a price confirmation, cos ur not trading vsa and u r not aquainted to volume spread analisys, to buy on the down moves and catch bottoms etcā¦anyways, that s how i learned and that s how u ll learn if u keep at it. it s not that difficult, just follow simple steps, draw few trendlines, support, resist, and picture in ur mind what u want price to do to get u in a trade. that s how i do it, i mark levels in advance, and make the trade in my mind already, and if it doesn t do what i expect, fudge it, there are other pairs or instruments. take a look at usdsgd, it s a mover, and the spread is tight, can really help u grow a small acount if u know what to do, same as gold. i m looking for trending pairs or pairs with higher adr, that move, i rarely trade UC, Aussie pairs or kiwi cos they have small daily range. and takes forever sometimes for a move to happen,and even if i m trading them intraday with higher lot size and i can make a nice profit only if it moves 15 or 20 pips, still takes so much time sometimes that it s booring me lol. but for swing trades, set it, and just watch it few times a day for any changes, if not ride it out.
@1odi Which type of trader are you? Day trader, Swing Trader?
And how big is your SL and TP in average? Especially the SL. 40-70 pips? 50-100 pips? Or a smaller range?
i trade whatever timeframe, have no issues, altho i prefer 1hr and 4hr when i don t have enough time to watch the charts and when i do have i use VSA to trade from 5 or 15m but still doing a top down aproach. i thought i had explained about stop and tp already.
take EU, in this case my stop was above the 200 and above the trendline(20 pips) if price would ve kicked me out my short bias would ve been done,or i would ve expected a range cos maybe it s not ready to go down yet. sometimes we re right about the direction but wrong about the timing.
This is a Sell about 40 pips stop-loss that I would be really tempted to take. If this H4 candles close negative under the 50 EMA, it looks like a good idea. Sure, nothing is sure here anyway, but still. Also the same for EURJPY.
Have a good day.
Edit: Although at EURJPY we would be better waiting, since the last 4H candle kinda gets some sort of pullback. Also, didnāt even close below the 50 EMA if that counts.
i think aussie usd hasn t finished retracing, so i wouldn t sell quite yet. as for eurjpy i m still waiting for confirmation, imo isn t quite ready to drop.
Yes, technically on H4 (a reasonable timeframe), looks perfectly for sell, but seeing last month past performance, we might be expecting another 100-150 rise, if that happens hopefully and doesnāt indicate a reversal.
Also, for what type of confirmation are you waiting for on EURJPY? A D1 rejection candle?
waitin on a break and retest, yes the weakness is there but to add to the probability i d rather be sure since we have also the range below.i don t wanna rush, cos i hate drawdown, so if i can minimize it, why notā¦i heard some1 say that trading u are paid to wait, and if u don t wait then u are gonna pay the marketā¦ kinda makes sence
Very intelligent entry point. Didnāt consider that. But how are you so sure the retest will occurr (touching the red zone)? Perhaps it drops instantly. Or are this retests frequently showing up on most of the currency markets?
I always have the tendency to kinda jump in so I wouldnāt miss a trade. But yes, you are paid to wait. Is a job Iād like to have lol (just kidding). But we can pay the market aswell if we want to lmao.
But Iād rather not. Waiting is indeed very important, and when I have seen the pullback and range, looked like itās finished. But this seems to require meticulous attention.
If you get the retest, where are you planning to set your SL?
let s hypothesize that it will break and retest, it doesn always, sometimes it will just run or just give a shallow pullback, in which case i m not trading it.(i don t chase price, there are plenty of oportunities). that beeing said, most of the times, after weakness, and break, price does retrace to 50 fib(meaning to that previous support turned resist in our case. the 200 might also follow along and be aove price and the 50, and the trendline, so stop would be above 200 ema or 50 or whatever ema is there(depends on the timeframe u chose to enter) and 5 to 10 pips above the high , or even 15 sometimes, or above the fib. u just gotta take these setups, and with time u ll get a feel of where ur stop should go. as for tp, 2 options. or i ll split the tottal risk into 3positions, so the first positions will be 1R equalls my stop. 2nd tp would be 2r or 2 times the stop, and 3rd pos with stop at breakeven and no tp, will just trail it for how much the market has to give in terms of pips. or, u can just open a position, and if ur trading in mt4, u can just take half of the profit when u reached 1to 1 for example, move stop to BE and just trail the rest, or bank some more profit at logical points on the chart where u think buyers might show up. with time u ll see with what ur more comfortable with, but this in my opinion would be the way to grow an account. if ur scalping then changes just a bit.
@1odi Is the same concept apllied to USDCAD? It rised 370 pips, and looking to drop. The same, is in a tight range for a wweek.