Save up a 6-12 months living costs, and trade full time during that period
Good point there. You should not be trading when you are desperate for money.
Trade safe and prosper.
That was a lesson I learned early on when I first began trading. I love technical analysis, but being aware of at least the basics of the fundamental one is necessary.
A good lesson to learn. One way I use fundamentals is to stay away from trading news associated with high volatility and allow the dust to settle before I survey the market.
Trade safe and prosper.
I do that too for the most part. Lately I have been learning how to trade some news at least, however.
If you are tracking the EURJPY this week, consider this technical perspective.
On the H4 time frame, price action has breached an ascending trendline (red) from the low of August 2018. Last week Friday, the last two sessions ended up printing an inside bar. The wicky nature of the printed candlesticks calls for caution. The candlesticks were printed around a horizontal support zone and we may see some sideways price action in the early part of this week. We can not rule out the possibility of price action retracing to retest the broken down ascending trendline (red) or the 129.420/129.700 zone – which was a previous minor horizontal support zone. However, such a move is likely to be temporary in nature. I am bearish EURJPY.
I may be wrong. Trade safe and prosper.
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Bearish EURJPY also. Watching this one.
I shorted too, by the looks of it the pair may not even rise back to test the upward trend line.
Good luck in your trades. I usually plan ahead for the week and my technical analysis is based on that. As a swing trader, I look for setups in S/R or pivot zones that can offer me a high reward-to-risk ratio and on a sustainable basis.
Trade safe and prosper.
If a bearish setup on a daily/H4 closing basis follows a pullback to the resistance around 129.40, which is in confluence with the weekly pivot, it will likely lead to a good bearish momentum.
Trade safe and prosper
So far it has rebounded from 128.50 but I too think that the bearish momentum is not over yet.
Let me share with you my technical perspective on GBPUSD.
On the daily time frame, price action is operating in an ascending channel. Given the technical patterns on the weekly time frame and the overall technical outlook prevailing on the daily time frame, this is a temporary correction. We are likely to see momentum for a southward continuation upon the breakdown of the channel. I am bearish GBPUSD.
I may be wrong. Trade safe and prosper.
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I agree. Once I see an actual breakout below the channel I will short too.
Stop expecting the market to do what you think it should do.
Be open mind and accept what is offering to you right now.
Stick to your edge, your plan and your MM.
This is a marathon. You don’t need to be first after 100 meters.
This is a great principle.
Unfortunately most of us have not been taught how to learn/work smart and constantly prepare and review.
In some cases it can take time and many mistakes to get there. Eventually if one stick to it one will get there.
Great thread. I hope you will stick to it. For yours and everybody benefit!
Read Trading in the zone by Mark Douglas.
Basically you need to change your beliefs. You don’t need to be right all the time.
You just need a profitable edge and stick to it. Results will come overtime.
You must be like a casino. You win some, You lose some. You win in the long run.
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Thorough analysis of the market does not mean you are jumping into the market. You create possibilities and likely areas you would look for feasible trades.
Trade safe and prosper.
Just in case I didn’t write it properly: with “you” I was not referring at you. You was a general you. Maybe with that you I was even meaning me if it makes sense! 
Just in case!
I had that issue as a newbie, I expected the market to adapt to my trades, rather than the other way around. I did learn better, eventually, but it took some time.
Recent market behaviour has shown me the value of waiting for the best conditions that fit my trading strategies/system. We have had a lot of sideways and ambivalence, which make it difficult to be a long-term trend trader or look for good reward/risk trading setup as a swing trader.
Trade safe and prosper.
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