priceaction:
This is for educational purposes, if it doesn't fit your learning curve or strategies, just pass.
This is to show how important some LEVELS ARE, ( STRONG PIVOTS combined with SUPPLY_DEMAND with bollinger, that's what i use) no matter which tf you trade. many of us just trade blindly, losing pips unnecessarily, entering the market when those that can push the market are out already living us in the hands of cunny brokers.

The most difficult thing in trading is knowing the direction of trend or direction of entry. That is where the money is whichever pairs we trade.

Fx is very difficult to trade because we are not institutional traders. So why disturbing your self to trade as institution traders?
Why cant us just be patience study to see what the big players are up to and strategically follow them? If you have screen time, you will be amazed, even during high impact news how price spike and touches those levels few seconds before and after the news, and the big players are out already living many of us to gamble with brokers. We can be like them by following them even if we swing trade and our entries can even be in 1min ( noisy right?, tell that to those who trade on 10-100lots per trade but you may not know what you save in risk reward ratio and how you can make more with that, by adding positions (another money making idea) you are out when others are planning to enter market).

To start with, get a strong levels that can make some positive differences. the higher the level,( weekly/monthly) the stronger you see strong reversal. Study those levels and see what prices do around that. Be patient and trade less. If you are a newbie reading this, better start with just a pair, after all, consistent money is all that we need.
Below are some of the levels personally analysis. You can learn one or two things there.

Good job. You've done a great job. Hope we can get more explanation and some live entry, how and when to enter... How you exit, trailing profit or ?

Shevychen2:
Anyone else watching UJ at its current level? I am already in with a 100 pips SL. If it breaks below 106.50 then maybe time to mobilise for 102/100.

Edd1e:
Trade update: moving according to plan. XAUUSD and XAGUSD

N.B: These are potential swing trades uf moves according to plan, i don't do day trading or inter day trading, kudos to those who do
I have playing USD strength since yesterday, took about 200 pips on them,
Alway plan ur trades And trade ur plan

Good Job sir. You see, this is what I look for, not the guys here that post chart after the fact. They don't post when they enter trade. They just post and tell us I have this profit or I take profit of so so pips.

What a bull crap. Post when you enter your trades. Not so dumb after fact chart. Anybody can do that. It's 2018, you guys should start being real and not fake.

Stop the feel good rubbish posting about taking profit. Go back to study, learn , and do it for real, you guys be fooling people online, just to feel good.

Tunderr:


Good job. You've done a great job. Hope we can get more explanation and some live entry, how and when to enter... How you exit, trailing profit or ?

Well, my trading style is a little bit far different from what many people do here, majority are swing trader and long term while I pick most of my trades from 1-5 minute charts, with initial tp/SL of 30pips, using an EA. Then I watch as it progresses then manually readjust my TP/ SL by just dragging it , tighening sl, and expanding tp as the trend builds up and can exit at my reasonable time. If it breaks those levels with strong force, and not backing off, I exit as fast as possible.
Many traders here trade multiple pairs while I focus only on cable and eursd and (dax, but stop this with my current broker because of spread) because spread matters to me alot. So I can call my trading mid term intra day.
Majority of my entries are from confirmation of strong support/resistant using multiple analysis anyway.
As per live entry, I will do that when chanced though I have done it severally before from my old posts.

The one I used to butress my points recently from below link was a live call ,only that I didn't update that after some hours . It is there and can be traced on chart https://www.nairaland.com/4264120/forex-trade-alerts-season-18/24

priceaction:
happening now on eurusd to butress my points

That rejection alone gave up to 70 pips from where I highlighted without even breaking that line or touching it again, which all started from 1min rejection as I highlighted. But I didn't take it because I was done for that day. Even some people that noticed that euusd of yerstday was daily chart brokeout but did it last?(Just set the trap for who thought it was a broke out and thought party to buy has started. After few 10s of pips movement, it hit a brickwall considering that it was trending up). No, it was rejected by weekly pivot, right in my eyes, and that rejection alone gave over 100 pips downward yesterday, probably creating long term downward movements for the next week. No trader should joke with monthly/ weekly pivots and supply/demand levels. That's where the big lords make killings and trappings. Its just an open secret they will never tell you.. That is what create order flow trading which many still find it difficult to understand.

That eursd rejection, I didn't take it because I was on cable trade which is more stable for me. People should train themselves to see these things. With patience, it can't be simpler than that.
Am just trying to tell fellas that what can cause fake breakouts, trend changing and so on. Some basic things can't just be neglected.

Tunderr:
If I go by your post, I can tell you, don't even think about it, stick to demo. Demo and do some more demo before thinking about live trading and don't start with 2000$ . Start with something less and try your demo strategy out with little live account and see if you can replicate the demo result on your small live account.

Thank you for your advise. I have been on demo for almost a year now and I think am doing good. My first involvement in forex was in 2005, if my memory serves me well, with Northfinance now fxpro. I won't want to repeat the mistake I made that time.

priceaction:
What I still don't get in this drawdown over a period of time. Assuming you start a trade over some 4 months and your dd is around 25%. You progress to make let's say 10% dd in the next 2 months. Does dd recalculate too just like profit ratio? I am trying to reduce my dad which stands around 21% now . Is that possible?

21% is reasonable. Most platforms recalculate over specific periods. Some do it every 200 trades. Note that some platforms only calculate drawdown on your starting capital while others also calculate drawdown from the peak of your equity. This is why investors also look at things like Loss Aversion, Positive and Negative Excursions (basically how low and how high positive and negative trades go), consistency of returns before making a decision.

Regardless of the method of calculation, a good risk profile and trading system will keep it from increasing too much. Can't go from that 21% to 40% for example.

Tunderr:
How can someone claim to make more than 2000+ , with all his trades hitting profit BUT still wants your $50 subscription?? If you fall for his then you deserve to be parted with your money.

I'm thinking he is a thief, fraud and all... But not so much right now, I think he's suffering from grandiose delusional disorder.

Post reported for removal. ( 6, 8, 9, 13, 16, 18, 22 )

Hello Sis, pls I am interest in Forex business and I will like you to put me through on this. Pls help a Sis

Shevychen2:

21% is reasonable. Most platforms recalculate over specific periods. Some do it every 200 trades. Note that some platforms only calculate drawdown on your starting capital while others also calculate drawdown from the peak of your equity. This is why investors also look at things like Loss Aversion, Positive and Negative Excursions (basically how low and how high positive and negative trades go), consistency of returns before making a decision.

Regardless of the method of calculation, a good risk profile and trading system will keep it from increasing too much. Can't go from that 21% to 40% for example.

Thanks bro. I will keep eyes ,hopefully as my account grows

Tunderr:

I guess you stopped because it's not worth it. Between do you trade or still trade forex or demo trade?

No... I remember that i had lot of programming to do so i stopped.

@ bolded... i trade forex.... Live account, if you r wondering.

Shevychen2:

.

That's true, some time ago i was making a research and i came up with the hypothesis. That, most if not all known forex Trader had at least $100k in there account.

Not someone with $100 trying to pay his bills by over leveraging.

That's what am working towards and also to diversify my portfolio into stocks, TB, and all

^^ Some good ones have $20-50k accounts too. Depending on peculiar situations.

In fact, most pros I know will tell you to never have more than the amount covered by regulation in the trading account. For brokers regulated in the UK, that's a maximum of £50k or its equivalent in other currencies. This means that if you have £1m in your account and the regulated broker goes bust for whatever reason, you will only get £50k back from the regulators. So most of them split the money across the account of "friends" and replicate trades if they need to trade large money. If you trade with a broker that isn't covered like this, your money can disappear at any time and you can't do shit.

wamiikechukwu:



Jfd broker..... The only ECN broker i know of..

They have good reviews. are u trading with them?

hope to commit my time here too

docus:
They have good reviews. are u trading with them?

Yes they have good reviews.
Am not trading with them.

wamiikechukwu:



Investors like investing on fund managers with long term results... 14 days result might be luck....

Am just saying no hard feelings.

You are right na which is why I added "keep this up and sky things". More like back pat and ear pull at the same time . I have seen enough abracadabra traders. Flenty faa

Hello, which broker would you recommend with tight enough spread as it is a major concern of yours.

priceaction:


Well, my trading style is a little bit far different from what many people do here, majority are swing trader and long term while I pick most of my trades from 1-5 minute charts, with initial tp/SL of 30pips, using an EA. Then I watch as it progresses then manually readjust my TP/ SL by just dragging it , tighening sl, and expanding tp as the trend builds up and can exit at my reasonable time. If it breaks those levels with strong force, and not backing off, I exit as fast as possible.
Many traders here trade multiple pairs while I focus only on cable and eursd and (dax, but stop this with my current broker because of spread) because spread matters to me alot. So I can call my trading mid term intra day.
Majority of my entries are from confirmation of strong support/resistant using multiple analysis anyway.
As per live entry, I will do that when chanced though I have done it severally before from my old posts.

The one I used to butress my points recently from below link was a live call ,only that I didn't update that after some hours . It is there and can be traced on chart https://www.nairaland.com/4264120/forex-trade-alerts-season-18/24

That rejection alone gave up to 70 pips from where I highlighted without even breaking that line or touching it again, which all started from 1min rejection as I highlighted. But I didn't take it because I was done for that day. Even some people that noticed that euusd of yerstday was daily chart brokeout but did it last?(Just set the trap for who thought it was a broke out and thought party to buy has started. After few 10s of pips movement, it hit a brickwall considering that it was trending up). No, it was rejected by weekly pivot, right in my eyes, and that rejection alone gave over 100 pips downward yesterday, probably creating long term downward movements for the next week. No trader should joke with monthly/ weekly pivots and supply/demand levels. That's where the big lords make killings and trappings. Its just an open secret they will never tell you.. That is what create order flow trading which many still find it difficult to understand.

That eursd rejection, I didn't take it because I was on cable trade which is more stable for me. People should train themselves to see these things. With patience, it can't be simpler than that.
Am just trying to tell fellas that what can cause fake breakouts, trend changing and so on. Some basic things can't just be neglected.

For now, tickmill has never disappointed me. I am more than happy with their spread on majors. But don't try trade exotics or indices with them. Like most other traders, their slippage on those pairs is crazy.
I used to like peppestone, but when I was making good few bucks continuously, spread widening and freezing of platform started , so am out with them.
I am replacing them soon with rakuten securities, Australian/Japanese broker making good name now with no commission and tight spread, but yet to conclude my papers with them. Lmax is cool from what I have heard and read of them but larger capital to start with them. So the choice is yours.

Wiseoldman:
Hello, which broker would you recommend with tight enough spread as it is a major concern of yours.

silent house since..
Happening now
MAIN TREND, DOWN...
signal generated from 1min chart.
sold eurusd @ 1.23689 ( SAME SIMILAR THING HAPPENING ON CABLE)
sl @ 1.2398 (initial 30 pips). Will adjust as it progresses for loss or trailing profits.
tp @ 1.2293 ( 75 pips, just few pips above monthly/daily pivot combo)

EurCad buy

Mehn..patience is key to survival in this business.

GBPAUD 4hrs. Imagine the fake break. Normal me (the impatient me) would have taken the sell without confirmation at the first break. As I pointed, Im learnong to be patient with my trade. In this case, I decided to wait for at least 2 to 3 4hrs candle close to really confirm the break. However it turn out to be fake.
One thing is, trading will really stretch your patience to the last. Just like what EURGBP did to me from last, I decided to be patient with it. Now its dropping/selling like person wey chop winch.

Hope someone is benefiting from these trades. EURGBP/NZDUSD/EURUSD
I posted the trade call her before taking them.
My learning process is gradually improving..
Check page 24.

***If you took the trade, monitor NZDUSD with eagle's eye. Across other pairs, NZD seem to be strong. Mine is at BE now.

I didnt take EU, im already too exposed in the market.

EURCHF
I posted this EURCHF here too before taking the trade.
I took the trade at break out of the 4hrs trend line. It wasnt a good trade, I should have waited for a retracement to the major/ascending trendline before entering my buy.
I have adjusted the 4hrs trendline to a channel. Im hoping for a break out of the channel and a retracement to the major/ascending trendline which will necessitate a buy if it doesnt break.

** Dont mind the stops of my trade, especially with this EURCHF. Most time I use mental stops (a particular amount im willing to use)

EURCAD
I have a sell already, I might add another at the break of the trendline.
Someone posted a similar chart too. Good one.

Trades im considering/watching.

USDCAD 4hrs chart

GBPUSD 4hrs chart

priceaction:
silent house since..
Happening now
MAIN TREND, DOWN...
signal generated from 1min chart.
sold eurusd @ 1.23689 ( SAME SIMILAR THING HAPPENING ON CABLE)
sl @ 1.2398 (initial 30 pips). Will adjust as it progresses for loss or trailing profits.
tp @ 1.2293 ( 75 pips, just few pips above monthly/daily pivot combo)

I don run out ooo @33

priceaction:
For educational purposes,enough said.

Let level trading be part of your analyses and learning curves especially interday traders: see this TODAY

Nice... Keep it coming sir... Until it sinks into this my thick skull.

Gold sell.
This market is conquerable if u know what you are doing.

It ain't rocket science

Anyone else benefiting from the CHFJPY i posted on page 24.
I think its will retrace again, you can buy again if it retraces and doesnt break support.


*** Check the updated version of the USDCAD i posted yesterday.
USDCAD daily, I think this is more accurate. Sell if its stays within trendline. Buy if it breaks.

SHORT TARGET, something will break cable today for up or downward trend

job done, money made, hands shook

priceaction:
SHORT TARGET, something will break cable today for up or downward trend